Shown below is selected information from the financial records of Merris Corporation as of December 31,...

 

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Shown below is selected information from the financial records of Merris Corporation as of December 31, 2019: Inventory $165,000 Cash purchase of equipment $29,000 Cash collected fram customers 350,000 Buildings, net 810,000 Equipment, net Retained earnings 355,000 Sales revenue 910,000 480,000 Cash paid for aperating activities 225,000 Cash dividends paid 38,000 Principal payments on notes payable 41,000 Salary expense 215,000 Common stock 529,000 Required Determine which of the above items will appear on the statement of cash flows and then prepare the statement for Merris Corporation for the year ended December 31, 2019. Use negative signs with your answers to show a cash outflow or decrease in cash, Shown below is selected information from the financial records of Merris Corporation as of December 31, 2019: Inventory $165,000 Cash purchase of equipment $29,000 Cash collected fram customers 350,000 Buildings, net 810,000 Equipment, net Retained earnings 355,000 Sales revenue 910,000 480,000 Cash paid for aperating activities 225,000 Cash dividends paid 38,000 Principal payments on notes payable 41,000 Salary expense 215,000 Common stock 529,000 Required Determine which of the above items will appear on the statement of cash flows and then prepare the statement for Merris Corporation for the year ended December 31, 2019. Use negative signs with your answers to show a cash outflow or decrease in cash,

Answer rating: 100% (QA)

Operating Activities Cash Collected from Customers 350000 Cash paid for ope... View the full answer