PB8. LO 16.4 Use the following excerpts from Stern Company's financial information to prepare a statement of cash flows(indirect method) for the year 2018.Dec. 31,Dec. 31,20182017$121,00037,200120,000304,000CashAccount Receivable$101,00035,300Merchandise InventoryPlant Assets128,700254,000(64,000)Accumulated Depreciation(85,000)Total Assets497,200455,000Accounts PayableNotes PayableCommon StockRetained Earnings23,200179,50030,000264,500497,20019,900144,00030,000261,100455,000Total Liabilities and EquityAdditional information:Net income for 2018Depreciation expense for 2018 (accumulated depreciation increase)Plant assets purchased (plant assets increase), financed by noteNotes payable increased by amount of plant asset purchaseNotes payable decreased by amount of principal note payments3,40021,00050,00050,00014,500

Name: PB8. LO 16.4 Use the following excerpts from Stern Company's financia
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Description: PB8. LO 16.4 Use the following excerpts from Stern Company's financial information to prepare a statement of cash flows(indirect method) for the year 2018.Dec. 31,Dec. 31,20182017$121,00037,200120,000304,000CashAccount Receivable$101,00035,300Mercha

Cash flow statement only records cash inflows and cash outflows of the business. Any transaction…

Business

Accounting

PB8. LO 16.4 Use the following excerpts from Sterm 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 Plant Assets $121,000 37,200 120,000 304,000 (85,000) 497,200 $101,000 35,300 128,700 254,000 Accumulated Depreciation Total Assets (64,000) 455,000 Accounts Payable Notes Payable Common Stock Retained Earnings Total Liabilities and Equity 23,200 179,500 30,000 264,500 19,900 144,000 30,000 261,100 455,000 497,200 Additional information: Net income for 2018 Depreciation expense for 2018 (accumulated depreciation increase) Plant assets purchased (plant assets increase), financed by note Notes payable increased by amount of plant asset purchase Notes payable decreased by amount of principal note payments 3,400 21,000 50,000 50,000 14,500

PB8. LO 16.4 Use the following excerpts from Sterm 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 Plant Assets $121,000 37,200 120,000 304,000 (85,000) 497,200 $101,000 35,300 128,700 254,000 Accumulated Depreciation Total Assets (64,000) 455,000 Accounts Payable Notes Payable Common Stock Retained Earnings Total Liabilities and Equity 23,200 179,500 30,000 264,500 19,900 144,000 30,000 261,100 455,000 497,200 Additional information: Net income for 2018 Depreciation expense for 2018 (accumulated depreciation increase) Plant assets purchased (plant assets increase), financed by note Notes payable increased by amount of plant asset purchase Notes payable decreased by amount of principal note payments 3,400 21,000 50,000 50,000 14,500

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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