Use the following excerpts from Victrolia Company's financial information.SalesCost of Goods SoldOperating Expenses, other thanDepreciation ExpenseDepreciation ExpenseGain on Sale of Plant AssetsNet IncomeCashAccounts ReceivableInventoryAccounts PayableAccured LiabilitiesCashAccounts ReceivableInventoryAccounts PayableAccured Liabilities2018 Income Statment Balance Sheets$455,000(221,500)Additional Information:Plant assets were sold for $40,000; book value $16,500Dividends of $22,000 were declared and paid(59,600)(22,000)23,500$175,400Dec. 31,2018$326,45039,75030,00017.5503,500Dec. 31, 2017$133.50036,50035,00019,5502,200 Prepare a statement of cash flows (direct method) for the year 2018. Use the minus sign to indicate cash out flows, a decrease in cash orcash payments.Victrolia CompanyStatement of Cash Flows (Direct Method)For the Year Ended December 31, 2018Cash Flow from Operating Activities:Cash Payments:Net cash flows from operating activitiesCash Flow from Investing Activities:Net Cash Flow from Investing ActivitiesCash Flow from Financing Activities:Net Cash Flow from Financing ActivitiesCash Balance, December 31, 2017Cash Balance, December 31, 2018.82

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Description: Use the following excerpts from Victrolia Company's financial information.SalesCost of Goods SoldOperating Expenses, other thanDepreciation ExpenseDepreciation ExpenseGain on Sale of Plant AssetsNet IncomeCashAccounts ReceivableInventoryAccounts Pay

Cash flow statement means the statement which shows the movement of cash in the business. It include…

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Prepare a statement of cash flows (direct method) for the year 2018. Use the minus sign to indicate cash out flows, a decrease in cash or cash payments. Victrolia Company Statement of Cash Flows (Direct Method) For the Year Ended December 31, 2018 Cash Flow from Operating Activities: Cash Payments: Net cash flows from operating activities Cash Flow from Investing Activities: Net Cash Flow from Investing Activities Cash Flow from Financing Activities: Net Cash Flow from Financing Activities Cash Balance, December 31, 2017 Cash Balance, December 31, 2018 88 00 0 0000

Prepare a statement of cash flows (direct method) for the year 2018. Use the minus sign to indicate cash out flows, a decrease in cash or cash payments. Victrolia Company Statement of Cash Flows (Direct Method) For the Year Ended December 31, 2018 Cash Flow from Operating Activities: Cash Payments: Net cash flows from operating activities Cash Flow from Investing Activities: Net Cash Flow from Investing Activities Cash Flow from Financing Activities: Net Cash Flow from Financing Activities Cash Balance, December 31, 2017 Cash Balance, December 31, 2018 88 00 0 0000

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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