Use the following excerpts from Unigen Companys financial information to prepare the operating section of the statement
Question:
Use the following excerpts from Unigen Company’s financial information to prepare the operating section of the statement of cash flows (indirect method) for the year 2018.
Transcribed Image Text:
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
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (10 reviews)
To prepare the operating section of the statement of cash flows indirect method for the year 2018 us...View the full answer
Answered By
Labindao Antoque
I graduated in 2018 with a Bachelor of Science degree in Psychology from Dalubhasaan ng Lungsod ng San Pablo. I tutored students in classes and out of classes. I use a variety of strategies to tutor students that include: lecture, discussions about the subject matter, problem solving examples using the principles of the subject matter being discussed in class , homework assignments that are directed towards reinforcing what we learn in class , and detailed practice problems help students to master a concept. I also do thorough research on Internet resources or textbooks so that I know what students need to learn in order to master what is being taught in class .
0.00
0 Reviews
10+ Question Solved
Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
Question Posted:
Students also viewed these Business questions
-
The operating activities section of the statement of cash flows for PepsiCo, Inc., owner of the Pepsi beverage brand, is shown as follows: a. Why are impairment and restructuring charges added to the...
-
The Investing Activities section of the statement of cash flows of Archer Daniels Midland Company (ADM), seller of agricultural commodities and products, follows. Based on the information given,...
-
The operating activities section of the statement of cash flows for General Motors Corporation is provided below for three recent years. A large expense for General Motors is its pension expense....
-
Read the article Somatoform and Related Disorders: An Update which address personality disorders, substance abuse, as any of these behaviors are often considered to be predictors of crime and/or...
-
How does a pizza shops Procurement process differ from CBIs? What do you believe is the corporate strategy of your favorite pizza franchise? What are the objectives and measures of its Procurement...
-
Find a vector orthogonal to the given vectors. (8, 0, 4) and (-8, 2, 1)
-
Harold Fail owned a plot of land in Georgia known as Ebenezer Landing, where he operated a public boat ramp and parking lot. In 1999, Fail and Steve Bodiford entered into an oral agreement...
-
Kerns Book Warehouse distributes hardcover books to retail stores and extends credit terms of 2/10, n/30 to all of its customers. At the end of May, Kerns inventory consisted of books purchased for...
-
The technical support call centre for a software company has a mean wait time of 210 s, with a standard deviation of 40 s. The management team wants to continue to improve customer satisfaction by...
-
The standards for one case of Springfever Tonic are as follows: During the week ended March 13, the following activity took place: 14,800 lb of raw materials were purchased for inventory at a cost of...
-
What is the effect on cash when current noncash operating assets decrease? A. Cash increases by the same amount. B. Cash decreases by the same amount. C. Cash decreases by twice as much. D. Cash does...
-
Use the following excerpts from Leopard Companys financial records to determine net cash flows from investing activities. Collected payments on a customer note receivable Purchased plant assets...
-
Someone standing at the edge of a cliff (as in Figure 1.24 ) throws a ball straight up at a certain speed and another ball straight down at the same initial speed. If air resistance is negligible,...
-
Provide a brief synthesis (4-5 sentences) of the COVID-19 pandemic and how it impacted the global economy. What was the impact of COVID-19 on the USA's labor force in 2020? How did COVID-19 impact...
-
_____ consumers have lower expectations of product quality and are less likely to make formal complaints when they are sold unsatisfactory products. Risk-taking Fatalistic Foolhardy Materialistic
-
You have been given a sample of unknown molarity. Calculate the molarity of a solution which has been prepared by dissolving 8.75 moles of sodium chloride in enough water to produce a solution of...
-
Describe 4 types of biases that may have affected the recruiter's decision-making ability to identify trainees with the best skills and knowledge for future management positions within the company.
-
Will globalization and the subsequent growth of worldwide sourcing have a positive or negative effect in the United States over the long run? Why? What are the alternatives to worldwide sourcing?
-
Tori can be paid in one of two ways for selling insurance policies: Plan A: A salary of $750 per month, plus a commission of 10% of sales; Plan B: A salary of $1000 per month, plus a commission of 8%...
-
H Corporation has a bond outstanding. It has a coupon rate of 8 percent and a $1000 par value. The bond has 6 years left to maturity but could be called after three years for $1000 plus a call...
-
How do the four management functions relate to change?
-
List the four areas of technology change.
-
What are the characteristics of an innovative culture?
-
Write a program that lets a maker of chips and salsa keep track of sales for five different types of salsa: mild, medium, sweet, hot, and zesty. The program should use two parallel 5- element arrays:...
-
Contract Drafting Instructions Submissions: All assignments must be submitted via the class Canvas page. All assignments must be uploaded in a Microsoft Word format. Assignment You are the paralegal...
-
There are a few points that I hope to bring into the light for you concerning psychotherapeutic drugs. In some cases, these drugs are necessary as the individual is suffering severely. In most cases,...
Study smarter with the SolutionInn App