Question: hello i need help with this question last 2 pictures are the titles that should be put Additional information: 1. Profit for 2024 was $55,920.
hello i need help with this question last 2 pictures are the titles that should be put
Additional information: 1. Profit for 2024 was $55,920. 2. Bonds payable of $48,000 were retired at maturity. 3. Common shares were issued for $32,000. 4. Land was sold at a loss of $8,000. 5. No equipment was sold during 2024 . 6. Net sales for the year were $542,400. 7. Cost of goods sold for the year was $351,840. 8. Operating expenses (not including depreciation expense) were $64,000. 9. Interest expense was $4,000. 10. Income tax expense was $18,640. The comparative balance sheet for Blossom Adventures Ltd., a private company reporting under ASPE, follows: BLOSSOM ADVENTURES LTD. Balance Sheet December 31 Prepare a cash flow statement using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. 15,000 or in parenthesis e.g. (15,000). Collections from Customers Decrease in Accounts Payable Decrease in Accounts Receivable Decrease in Income Tax Payable Decrease in Inventory Decrease in Prepaid Expenses Depreciation Expense Increase in Accounts Payable Increase in Accounts Receivable Increase in Income Tax Payable Increase in Inventory Increase in Prepaid Expenses Issuance of Common Shares Loss on Sale of Land Payments for Operating Expenses Payments for Taxes Payment of Cash Dividends Payments to Suppliers Proceeds from Sale of Equipment Profit for the Year Purchase of Equipment Redemption of Bonds Sale of Land Financing Activities Investing Activities Net Cash Provided by Financing Activities Net Cash Provided by Investing Activities Net Cash Provided by Operating Activities Net Cash Used by Financing Activities Net Cash Used by Investing Activities Net Cash Used by Operating Activities Net Decrease in Cash Net Increase in Cash Operating Activities
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