PB10. LO 16.4 Use the following excerpts from Mountain Company's financial information to prepare a statement of cashflows (indirect method) for the year 2018.Dec. 31, 2018Dec. 31, 2017$ 93,000CashAccount ReceivableMerchandise InventoryInvestments$100,00019,00029,000132,00090,00018,00031,500120,00090,000Plant AssetsAccumulated DepreciationTotal Assets(37,000)333,000(23,000)329,500Accounts PayableAccrued Liabilities12,1002,40081,000237,500333,00013,4001,90063,000251,200Common StockRetained EarningsTotal Liabilities and Equity329,500Additional information:Net income (loss) for 2018Depreciation expense for 2018Investments purchased, for cashCommon stock issued for cash, at par valueDividends declared and paid(5,700)14,00012,00018,0008,000

Increase in current assets lead to decrease in the cash flow from operating activities whereas…

PB10. LO 16.4 Use the following excerpts from Mountain Company's financial information to prepare a statement of cash flows (indirect method) for the year 2018. Dec. 31, 2018 Dec. 31, 2017 Cash Account Receivable Merchandise Inventory Investments $100,000 19,000 29,000 132,000 90,000 (37,000) 333,000 $ 93,000 18,000 31,500 120,000 90,000 (23,000) 329,500 Plant Assets Accumulated Depreciation Total Assets 12,100 2,400 81,000 237,500 333,000 Accounts Payable Accrued Liabilities 13,400 1,900 63,000 251,200 329,500 Common Stock Retained Earnings Total Liabilities and Equity Additional information: Net income (loss) for 2018 Depreciation expense for 2018 Investments purchased, for cash Common stock issued for cash, at par value Dividends declared and paid (5,700) 14,000 12,000 18,000 8,000

PB10. LO 16.4 Use the following excerpts from Mountain Company's financial information to prepare a statement of cash flows (indirect method) for the year 2018. Dec. 31, 2018 Dec. 31, 2017 Cash Account Receivable Merchandise Inventory Investments $100,000 19,000 29,000 132,000 90,000 (37,000) 333,000 $ 93,000 18,000 31,500 120,000 90,000 (23,000) 329,500 Plant Assets Accumulated Depreciation Total Assets 12,100 2,400 81,000 237,500 333,000 Accounts Payable Accrued Liabilities 13,400 1,900 63,000 251,200 329,500 Common Stock Retained Earnings Total Liabilities and Equity Additional information: Net income (loss) for 2018 Depreciation expense for 2018 Investments purchased, for cash Common stock issued for cash, at par value Dividends declared and paid (5,700) 14,000 12,000 18,000 8,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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