PLEASE USE THE DIRECT METHOD Plz answer fast without plagiarism STATEMENT OF CASH FLOW1. To prepare the statement of cash flow for 2018 for Monsoon CompanyCash balance January 1 2018, $12,000Net Income for the year ended December 31, 2018 was $49,000- Depreciation expense for 2018 was $12,000- During 2018, plant assets with a book value of $50,000 (cost $50,000 and accumulatedepreciation $0) were sold for $80,000- Plant assets were acquired for $12,000 cash- Issued long-term notes payable for $10,000- Purchased treasury stock for 1,000- Paid dividends of $5,000- Issued common stock for $10,000- Repaid long-term notes payable for $15,000-Decrease of accounts receivable, $55,000-Decrease of account payable, $10,000-

The direct method of preparing a cash flow statement is a method that reports the cash inflows and…

STATEMENT OF CASH FLOW 1. To prepare the statement of cash flow for 2018 for Monsoon Company Cash balance January 1 2018, $12,000 - Net Income for the year ended December 31, 2018 was $49,000 Depreciation expense for 2018 was $12,000 During 2018, plant assets with a book value of $50,000 (cost $50,000 and accumulated Hepreciation $0) were sold for $80,000 Plant assets were acquired for $12,000 cash Issued long-term notes payable for $10,000 Purchased treasury stock for 1,000 Paid dividends of $5,000

STATEMENT OF CASH FLOW 1. To prepare the statement of cash flow for 2018 for Monsoon Company Cash balance January 1 2018, $12,000 - Net Income for the year ended December 31, 2018 was $49,000 Depreciation expense for 2018 was $12,000 During 2018, plant assets with a book value of $50,000 (cost $50,000 and accumulated Hepreciation $0) were sold for $80,000 Plant assets were acquired for $12,000 cash Issued long-term notes payable for $10,000 Purchased treasury stock for 1,000 Paid dividends of $5,000

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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