PA9. LO 16.4 Use the following excerpts from Yardley Company's financial information to prepare a statement of cash flows (indirect method) for the year 2018. 2018 Income Balance Statement Sheets $ 455,000 (221,500) (58,600) (24,000) 23,500 174,400 Sales Cost of Goods Sold Operating Expenses, other than depreciation expense Depreciation Expense Gain on Sale of Plant Assets Net Income Dec. 31, 2018 $321,450 39,750 33,000 17,550 3,500 Cash Accounts Receivable Inventory Accounts Payable Accrued Liabilities Dec. 31, 2017 $133,500 36,500 35,000 19,550 2,200 Cash Accounts Receivable Inventory Accounts Payable Accrued Liabilities Additional information: Plant assets were sold for $40,000; book value $16,500 Dividends of $25,000 were declared and paid
PA9. LO 16.4 Use the following excerpts from Yardley Company's financial information to prepare a statement of cash flows (indirect method) for the year 2018. 2018 Income Balance Statement Sheets $ 455,000 (221,500) (58,600) (24,000) 23,500 174,400 Sales Cost of Goods Sold Operating Expenses, other than depreciation expense Depreciation Expense Gain on Sale of Plant Assets Net Income Dec. 31, 2018 $321,450 39,750 33,000 17,550 3,500 Cash Accounts Receivable Inventory Accounts Payable Accrued Liabilities Dec. 31, 2017 $133,500 36,500 35,000 19,550 2,200 Cash Accounts Receivable Inventory Accounts Payable Accrued Liabilities Additional information: Plant assets were sold for $40,000; book value $16,500 Dividends of $25,000 were declared and paid
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
I was needing help with this accounting problem.
Transcribed Image Text:PA9. LO 16.4 Use the following excerpts from Yardley Company's financial information to prepare a statement
of cash flows (indirect method) for the year 2018.
2018 Income
Balance
Statement
Sheets
$ 455,000
(221,500)
(58,600)
(24,000)
23,500
174,400
Sales
Cost of Goods Sold
Operating Expenses, other than depreciation expense
Depreciation Expense
Gain on Sale of Plant Assets
Net Income
Dec. 31, 2018
$321,450
39,750
33,000
17,550
3,500
Cash
Accounts Receivable
Inventory
Accounts Payable
Accrued Liabilities
Dec. 31, 2017
$133,500
36,500
35,000
19,550
2,200
Cash
Accounts Receivable
Inventory
Accounts Payable
Accrued Liabilities
Additional information:
Plant assets were sold for $40,000; book value $16,500
Dividends of $25,000 were declared and paid
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education