Use the following information from Dubuque Company’s financial statements to prepare the operating activities section of the statement of cash flows (indirect method) for the year 2018: 2018 Income Statement Balance Sheets Sales $299,000 Cost of Goods Sold (135,000) Operating Expenses, other than depreciation expense. (27,000) Depreciation Expense (17,000) Gain on Sale of Plant Assets 16,500 ------------- Net Income 136,500 Dec. 31, 2018 Accounts Receivable $45,300 Inventory 1,600 Accounts Payable 22,500 Accured Liabilities 900 Dec. 31, 2017 Accounts Receivable $43,400 Inventory 1,800 Accounts Payable 21,250 Accured Liabilities 1,150 PLEASE NOTE: Use the account and term names exactly as shown above and the accounts will be listed in the same order as shown in the textbook examples. All dollar amounts will be rounded to whole dollars using "$" and commas as needed (i.e. $12,345) and decreases will be shown with parentheses - $(12,345). Operating Activities: Adjustments to Reconcile Net Income to Net Cash Flow from Operating Activities: Changes in Current Assets and Liabilities: Net Cash Flows: Operating Activities
7.
Use the following information from Dubuque Company’s financial statements to prepare the operating activities section of the statement of
2018 Income Statement Balance Sheets
Sales $299,000
Cost of Goods Sold (135,000)
Operating Expenses, other than
Depreciation Expense (17,000)
Gain on Sale of Plant Assets 16,500
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Net Income 136,500
Dec. 31, 2018
Inventory 1,600
Accounts Payable 22,500
Accured Liabilities 900
Dec. 31, 2017
Accounts Receivable $43,400
Inventory 1,800
Accounts Payable 21,250
Accured Liabilities 1,150
PLEASE NOTE: Use the account and term names exactly as shown above and the accounts will be listed in the same order as shown in the textbook examples. All dollar amounts will be rounded to whole dollars using "$" and commas as needed (i.e. $12,345) and decreases will be shown with parentheses - $(12,345).
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Operating Activities: |
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Adjustments to Reconcile Net Income to Net Cash Flow from Operating Activities: |
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Changes in Current Assets and Liabilities: |
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Net Cash Flows: Operating Activities |
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