Concept explainers
Technology Solutions’ format for the statement of
TECHNOLOGY SOLUTIONS Statement of Cash Flows For the year ended December 31, 2018 |
|
Cash at the beginning of the period | $$$ |
Cash at the end of the period | S$$ |
Net increase (decrease) in cash | $$$ |
Cash Flows from Financing Activities List of Net cash flows from financing activities |
$$$ |
Noncash Activities List of noncash transactions |
$$$ |
Cash Flows from Investing Activities List of cash inflows and outflows from investing activities Net cash flows from investing activities |
$$$ |
Cash Flows from Operating Activities List of items adjusting net income to operating cash flows Adjustments to reconcile net income to net cash flows from operating activities Net income Net cash flows from operating activities |
$$$ |
Required:
Prepare a correct format for Technology Solutions to use in preparing the statement of cash flows.
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FINANCIAL ACCOUNTINGLL W/CONNECT >IC<
- Preparing a Statement of Cash Flows Monon Cable Television Company reported the following financial statements for 20l9: Required: 1. Prepare a statement of cash flows using the indirect method to compute net cash flow from operating activities. 2. CONCEPTUAL CONNECTION Explain what has been responsible for the decrease in cash.arrow_forwardRecording Petty Cash Fund Transactions Illustrate the effect on the accounts and financial statements of the following transactions. If no account or activity is affected, select "No effect" from the dropdown and leave the corresponding number entry box blank. Enter account decreases and cash outflows as negative amounts. a. Established a petty cash fund of $750. Balance Sheet Assets = Liabilities + Stockholders' Equity Cash + Petty Cash = No Effect + No Effect fill in the blank 5 fill in the blank 6 fill in the blank 7 fill in the blank 8 Statement of Cash Flows Income Statement No effect fill in the blank 10 No effect fill in the blank 12 b. The amount of cash in the petty cash fund is now $188. Replenished the fund, based on the following summary of petty cash receipts: office supplies, $262; miscellaneous selling expense, $131; miscellaneous administrative expense, $169. Enter account decreases and cash outflows as negative…arrow_forwardState the section(s) of the statement of cash flows prepared by the indirect method (operating activities, investing activities, financing activities, or not reported) and the amount that would be reported for each of the following transac Note: Only consider the cash component of each transaction. Use the minus sign to indicate amounts that are cash out flows, cash payments, decreases in cash, or any negative adjustments. If your answer is not reported in an amount box does not require an entry, leave it blank or enter "0". a. Received $120,000 from the sale of land costing $70,000. b. Purchased investments for $75,000. c. Declared $35,000 cash dividends on stock. $5,000 dividends were payable at the beginning of the year, and $6,000 were payable at the end of the year. d. Acquired equipment for $64,000 cash. e. Declared and issued 100 shares of $20 par common stock as a stock dividend, when the market price of the stock was $32 a share. f. Recognized depreciation for the year,…arrow_forward
- Please do not give solution in image format ? And Fast Answering Please ? And please explain proper steps by Step.arrow_forwardPrepare the cash flows for operating activity section of the statement of cash flows using the indirect method. Use the minus sign to indicate cash outflows, a decrease in cash, cash payments, or any negative adjustments.arrow_forwardI need some assistance in Preparing the operating activities section of the statement of cash flows using the direct method. See attached images for the inputs. I have been getting "bounced" on the yellow sections for incorrect valuesarrow_forward
- I need a lot of help with the last two tables, just the ones that are marked incorrect.arrow_forwardeBook Recording Petty Cash Fund Transactions Illustrate the effect on the accounts and financial statements of the following transactions. If no account or activity is affected, select "No effect" from the dropdown and leave the corresponding number entry box blank. Enter account decreases and cash outflows as negative amounts. a. Established a petty cash fund of $1,125. Statement of Cash Flows Assets Statement of Cash Flows + Assets Balance Sheet + b. The amount of cash in the petty cash fund is now $169. Replenished the fund, based on the following summary of petty cash receipts: office supplies, $506; miscellaneous selling expense, $197; miscellaneous administrative expense, $253. Enter account decreases and cash outflows as negative amounts. Balance Sheet Liabilities = + Stockholders' Equity + Income Statement Liabilities + Stockholders' Equity + Income Statementarrow_forwardBelow is the ledger of XYZ Company Account Titles Accounts Receivable Accumulated depreciation - Buildings Accumulated depreciation - Furniture and Fixtures Accumulated depreciation - Manufacturing Equipments Allowance for Doubtful Accounts Bonds Payable Buildings Cash in Bank Cash on Hand Current portion of Long-term Notes Payable Finished goods Furnitures and Fixtures Income Taxes Payable Land Leasehold Improvements Long-term Notes Payable Manufacturing Equipments Money Market Fund Mortgage Payable Patents Amount 259,345.00 484,180.00 139,766.00 182.228.00 54,300.00 560,000.00 1,152,637.00 535,445.00 58,598.00 250,000.00 17,068.00 346,641.00 52,053.00 926,747.00 350,600.00 1,750,000.00 345,234.00 32,578.00 460,000.00 889,467.00arrow_forward
- Hi there, I'm not sure how to solve this question. Which items are supposed to be on the statement of cashflows? Thanksarrow_forward1401-42 Please make sure to use the account names from the attachementarrow_forwardA. Classification of Cash For each of the items listed in the table below, place an X in the column indicating the correct classification for balance sheet purposes. The first one is completed for you. Balance Sheet Classification Cash Cash Short-term Other Equivalent Investments Checking account Savings account Rare coins kept for long-term speculation Post-dated checks received Money orders received Petty cash fund Treasury bills purchased when two months remain in term Compensating balance for a short-term loan Sinking fund to retire a bond in five years Certificate of deposit (six- month term) Short-term investment in marketable equity securitiesarrow_forward
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