Using the information provided, prepare a statement of cash flows (applying the indirect method) for the year ended December 31, 2023. (List any deduction in cash and cash outflows as negative amounts. Enter amounts in thousands, not in dollar.)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Other information regarding Paddleboard Inc.
and its activities during 2023:
1. Assume all accounts have normal balances.
2. Cash dividends were declared and paid
during the year.
3. There were no sales of property, plant, and
equipment assets during the year.
4. Investments were sold for cash at their
original cost.
Required:
Using the information provided, prepare a
statement of cash flows (applying the indirect
method) for the year ended December 31,
2023. (List any deduction in cash and cash
outflows as negative amounts. Enter
amounts in thousands, not in dollar.)
Transcribed Image Text:Other information regarding Paddleboard Inc. and its activities during 2023: 1. Assume all accounts have normal balances. 2. Cash dividends were declared and paid during the year. 3. There were no sales of property, plant, and equipment assets during the year. 4. Investments were sold for cash at their original cost. Required: Using the information provided, prepare a statement of cash flows (applying the indirect method) for the year ended December 31, 2023. (List any deduction in cash and cash outflows as negative amounts. Enter amounts in thousands, not in dollar.)
Sunny Technologies Inc. began operations on January 1, 2022. Its post closing trial balance at December 31, 2022 and 2023 is shod
below along with some other information.
Revenues
Sales
Cost of goods sold
Gross Profit
Sunny Technologies Inc
Tricom Statrent
For Year Ended December 31, 2023
Expenses and other:
other expenses
Depreciation expense
Total operating expenses
Operating Profit (Loss)
Loss on sales of plant assets
Profit (Loss)
Account
Cash
Notes payable
Common shares.
Retained earnings
Receivables
Merchandise inventory
Property, plant and equipment
Accumulated depreciation.
Accounts payable
Accrued liabilities
$ 154,400
24,800
Sunny Technologies Inc.
Post-Closing Trial Balance
2023
$ 60,800
40,000
26,400
229,600
63,200
46,840
$ 626,400
482,400
144,000
December 31
10,400
97,780
49,780
88,800
179,200
(35,200)
20,000
$ (55,200)
2022
$76,980
29,600
34,400
190,580
52,000
62,400
5,600
40,180
8,000
163,380
ther information regarding Sunny and its activities during 2023:
Transcribed Image Text:Sunny Technologies Inc. began operations on January 1, 2022. Its post closing trial balance at December 31, 2022 and 2023 is shod below along with some other information. Revenues Sales Cost of goods sold Gross Profit Sunny Technologies Inc Tricom Statrent For Year Ended December 31, 2023 Expenses and other: other expenses Depreciation expense Total operating expenses Operating Profit (Loss) Loss on sales of plant assets Profit (Loss) Account Cash Notes payable Common shares. Retained earnings Receivables Merchandise inventory Property, plant and equipment Accumulated depreciation. Accounts payable Accrued liabilities $ 154,400 24,800 Sunny Technologies Inc. Post-Closing Trial Balance 2023 $ 60,800 40,000 26,400 229,600 63,200 46,840 $ 626,400 482,400 144,000 December 31 10,400 97,780 49,780 88,800 179,200 (35,200) 20,000 $ (55,200) 2022 $76,980 29,600 34,400 190,580 52,000 62,400 5,600 40,180 8,000 163,380 ther information regarding Sunny and its activities during 2023:
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