Use the following excerpts from Swahilia Companys financial information to prepare a statement of cash flows (direct
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Use the following excerpts from Swahilia Company’s financial information to prepare a statement of cash flows (direct method) for the year 2018.
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Sales Cost of Goods Sold Operating Expenses, other than depreciation expense Depreciation Expense Loss on Sale of Plant Assets Net Income Cash Accounts Receivable Inventory Accounts Payable Accrued Liabilities Cash Accounts Receivable Inventory Accounts Payable Accrued Liabilities Additional information: Plant assets were sold for $22,000; book value $33,000 Dividends of $18,000 were declared and paid 2018 Income Statement $ 777,000 (555,000) (22,000) (44,000) (11,000) 145,000 Balance Sheets Dec. 31, 2018 $429,850 63,300 2,400 35,000 2,100 Dec. 31, 2017 $228,700 63,000 2,800 37,400 2,650
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Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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