Vali COMPANY Comparative Balance Sheet 2019 Assets 2018 Cash. $61,000 $12,000 Accounts receivable. 4,000 8,000 11,000 12,000 Inventory.. Prepaid expenses.. Equipment. Accumulated depreciation-Equipment.. 2,000 3,000 20,000 20,000 (3.000) (2.000) $95.000 $53.000 Total assets.. Liabilities and Stockholders' Equity Accounts payable. Long-term note payable.. Common stock.. $ 2,000 16,000 $ 4,000 14,000 32,000 18,000 Retained earnings. Total liabilities and stockholders' equity... 45.000 $95.000 17.000 $53.000 Depreciation expense. 500 Net income.. $ 22,500 Cash dividends of $7,000 were paid during the year. The common stock was issued for cash A land was sold for $ 15,500, - balance value: $13000 - cash. Calculate the operating activity cash flows for the year ended December 31, 2019 using the indirect method.
Vali COMPANY Comparative Balance Sheet 2019 Assets 2018 Cash. $61,000 $12,000 Accounts receivable. 4,000 8,000 11,000 12,000 Inventory.. Prepaid expenses.. Equipment. Accumulated depreciation-Equipment.. 2,000 3,000 20,000 20,000 (3.000) (2.000) $95.000 $53.000 Total assets.. Liabilities and Stockholders' Equity Accounts payable. Long-term note payable.. Common stock.. $ 2,000 16,000 $ 4,000 14,000 32,000 18,000 Retained earnings. Total liabilities and stockholders' equity... 45.000 $95.000 17.000 $53.000 Depreciation expense. 500 Net income.. $ 22,500 Cash dividends of $7,000 were paid during the year. The common stock was issued for cash A land was sold for $ 15,500, - balance value: $13000 - cash. Calculate the operating activity cash flows for the year ended December 31, 2019 using the indirect method.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![Vali COMPANY
Comparative Balance Sheet
2019
Assets
2018
$61,000 $12,000
8,000
Cash.
4,000
11,000
Accounts receivable,
12,000
Inventory..
Prepaid expenses..
Equipment...-
Accumulated depreciation-Equipment.
2,000
3,000
20,000
20,000
(3.000) (2.000)
$95,000 $53,000
Total assets..
Liabilities and Stockholders' Equity
Accounts payable.
Long-term note payable.
Common stock..
Retained earnings..
Total liabilities and stockholders' equity...
$ 2,000
$ 4,000
16,000
14,000
18,000
32,000
45,000
$95.000
17.000
$53.000
Depreciation expense.
500
Net income..
$ 22,500
Cash dividends of $7,000 were paid during the year.
The common stock was issued for cash
A land was sold for $ 15,500, - balance value: $13000 - cash.
Calculate the operating activity cash flows for the year ended December 31, 2019 using the indirect method.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1d39f439-c0df-4260-bff7-863bf3eaa9a0%2Fdc66f6d1-ecf1-444a-a94d-4668f23f0c20%2Fids48t_processed.png&w=3840&q=75)
Transcribed Image Text:Vali COMPANY
Comparative Balance Sheet
2019
Assets
2018
$61,000 $12,000
8,000
Cash.
4,000
11,000
Accounts receivable,
12,000
Inventory..
Prepaid expenses..
Equipment...-
Accumulated depreciation-Equipment.
2,000
3,000
20,000
20,000
(3.000) (2.000)
$95,000 $53,000
Total assets..
Liabilities and Stockholders' Equity
Accounts payable.
Long-term note payable.
Common stock..
Retained earnings..
Total liabilities and stockholders' equity...
$ 2,000
$ 4,000
16,000
14,000
18,000
32,000
45,000
$95.000
17.000
$53.000
Depreciation expense.
500
Net income..
$ 22,500
Cash dividends of $7,000 were paid during the year.
The common stock was issued for cash
A land was sold for $ 15,500, - balance value: $13000 - cash.
Calculate the operating activity cash flows for the year ended December 31, 2019 using the indirect method.
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