To prepare the statement of cash flow's, the accountant for Daisy electric company have summarized 2018 activity in two accounts:

Daisy electric's 2018 income statement and balance sheet that a follow:

Requirement one. Prepare the statement of cash flows of Daisy electric company for the year-end of December 31, 2018, using the direct method to report operating activities. Also, prepare the accompanying schedule of non-cash investing in financing activities.

Start by completing the cash flows from operating activities using the direct method. Then complete the statement of cash flows in the accompanying schedule of non-cash investing in financing activities.

Requirement two. Use Daisy electric's 2018 income statement and information from its selected balance sheet data to prepare a supplementary schedule of cash flows from operating activities using the indirect method.

  
 
 
 
 
 
 
 
 
 
 
 

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1 Data Table unt a) Dall ent Cash Beginning bal 48,400 Payments on accounts payable 402,000 Sale of long-term investment 18,200 Payments of dividends 62,000 sh Collections from customers 661,300 Payments Dt salaries and wages 143,300 ppare Issuance of common stock 47,800 Payments of interest 28,100 gand atin for Receipts of dividends 16,900 Purchase of equipment 31.300 Payments of other operating expenses 34,900 Ele Payment of long-tem note payable 41,400 Fas Purchase of treasury stock 26,800 ed Payment of income tax 3.900 18,900 Ending Bal in t Print Done 1 Data Table unt a) Dall ent Cash Beginning bal 48,400 Payments on accounts payable 402,000 Sale of long-term investment 18,200 Payments of dividends 62,000 sh Collections from customers 661,300 Payments Dt salaries and wages 143,300 ppare Issuance of common stock 47,800 Payments of interest 28,100 gand atin for Receipts of dividends 16,900 Purchase of equipment 31.300 Payments of other operating expenses 34,900 Ele Payment of long-tem note payable 41,400 Fas Purchase of treasury stock 26,800 ed Payment of income tax 3.900 18,900 Ending Bal in t Print Done

Answer rating: 100% (QA)

SOLUTION Cash flow from operating activities Receipts Collection from customers 661300 Receipts of d... View the full answer