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.

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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