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Using the income statement and balance sheets of AlHada Water Company, prepare statement of cash flows for the year ended December 31, Year 9, using the indirect method. Assets Cash AlHada Water Company Income Statement For Year Ended December 31, Year 9 Sales Cost of goods sold Depreciation expense General Expenses Interest expense Income Tax expense Net Income AlHada Water Company Balance Sheets December 31, Year 9 and Year 8 Year 8 Accounts receivable, net Inventory Current assets Fixed assets, net Total assets Interest payable Current liabilities Liabilities and Equity Accounts payable Deferred income tax Long-term debt Long term notes payable to banks Capital stock Retained earnings Total liabilities and equity 50 500 750 1,300 500 $1,800 590 300 10 700 300 $100 400 100 $1,800 1000 (650) (100) (100) (50) (40) 60 Year 9 60 520 770 1,350 550 $1,900 615 310 20 710 350 $75 400 130 $1,900

Using the income statement and balance sheets of AlHada Water Company, prepare statement of cash flows for the year ended December 31, Year 9, using the indirect method. Assets Cash AlHada Water Company Income Statement For Year Ended December 31, Year 9 Sales Cost of goods sold Depreciation expense General Expenses Interest expense Income Tax expense Net Income AlHada Water Company Balance Sheets December 31, Year 9 and Year 8 Year 8 Accounts receivable, net Inventory Current assets Fixed assets, net Total assets Interest payable Current liabilities Liabilities and Equity Accounts payable Deferred income tax Long-term debt Long term notes payable to banks Capital stock Retained earnings Total liabilities and equity 50 500 750 1,300 500 $1,800 590 300 10 700 300 $100 400 100 $1,800 1000 (650) (100) (100) (50) (40) 60 Year 9 60 520 770 1,350 550 $1,900 615 310 20 710 350 $75 400 130 $1,900

FINANCIAL ACCOUNTING
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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Question #1 Using the income statement and balance sheets of AlHada Water Company, prepare statement of cash flows for the year ended December 31, Year 9, using the indirect method. Assets Cash AlHada Water Company Income Statement For Year Ended December 31, Year 9 Sales Cost of goods sold Depreciation expense General Expenses Interest expense Income Tax expense Net Income AlHada Water Company Balance Sheets December 31, Year 9 and Year 8 Year 8 Accounts receivable, net Inventory Current assets Fixed assets, net Total assets Liabilities and Equity Accounts payable Deferred income tax Interest payable Current liabilities Long-term debt Long term notes payable to banks Capital stock Retained earnings Total liabilities and equity 50 500 750 1.300 500 $1,800 590 300 10 700 300 $ 100 400 100 $1,800 1000 (650) (100) (100) (50) (40) 60 Year 9 60 520 770 1,350 550 $1,900 615 310 20 710 350 $75 400 130 $1,900
Transcribed Image Text:Question #1 Using the income statement and balance sheets of AlHada Water Company, prepare statement of cash flows for the year ended December 31, Year 9, using the indirect method. Assets Cash AlHada Water Company Income Statement For Year Ended December 31, Year 9 Sales Cost of goods sold Depreciation expense General Expenses Interest expense Income Tax expense Net Income AlHada Water Company Balance Sheets December 31, Year 9 and Year 8 Year 8 Accounts receivable, net Inventory Current assets Fixed assets, net Total assets Liabilities and Equity Accounts payable Deferred income tax Interest payable Current liabilities Long-term debt Long term notes payable to banks Capital stock Retained earnings Total liabilities and equity 50 500 750 1.300 500 $1,800 590 300 10 700 300 $ 100 400 100 $1,800 1000 (650) (100) (100) (50) (40) 60 Year 9 60 520 770 1,350 550 $1,900 615 310 20 710 350 $75 400 130 $1,900
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