Question

Use the Minerals Plus, Inc. data in Exercise to prepare the spreadsheet for the 2015 statement of cash flows.
In Exercise, The income statement of Minerals Plus, Inc. follows:


Additional data follow:
a. Acquisition of plant assets is $ 119,000. Of this amount, $ 100,000 is paid in cash and $ 19,000 by signing a note payable.
b. Cash receipt from sale of land totals $ 28,000. There was no gain or loss.
c. Cash receipts from issuance of common stock total $ 29,000.
d. Payment of note payable is $ 18,000.
e. Payment of dividends is $ 8,000.
f. From the balance sheet:



Format cash flows from operating activities by the indirectmethod.


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  • CreatedJanuary 16, 2015
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