Question: Hello! Can you please help me to understand how to prepare the statement of cash flow for Cardi Company using the indirect method with the
Hello! Can you please help me to understand how to prepare the statement of cash flow for Cardi Company using the indirect method with the information given below? I have attached the blank journal entry for your reference. I really appreciate any assistance -thank you so much in advance!
14) The following information is related to Cardi Company's fiscal year 2019.
Income Statement:
Net Income$200,000
Depreciation Expense20,000
Loss onSaleof Plant Assets20,000
Interest Expense500
Balance Sheet - 12/31/19:
Accounts PayableIncrease3,000
Accounts ReceivableIncrease5,000
Plant Assets - Purchased200,000
Plant Assets - Proceeds
from sale100,000
Additional Information:
Cash Balance - 12/31/2018:$50,000
Common Stock exchanged for outstanding Long-Term Notes Payable of $150,000
Dividends paid were $20,000
Use this information to prepare the Statement of Cash Flows for Cardi Company using the indirect method.
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