Question: i need some help with this HW Additional Information for 2021: 1. Net income is $69,000. 2. The company purchases $120,000 in equipment. 3. Depreciation

i need some help with this HW

Additional Information for 2021: 1. Net income is $69,000. 2. The company purchases $120,000 in equipment. 3. Depreciation expense is $160,000. 4. The company repays $100,000 in notes payable. 5. The company declares and pays a cash dividend of $25,000. Required: Prepare the statement of cash flows using the indirect method. (List cash outflows and any decrease in cash as The balance sheets for Plasma Screens Corporation, along with additional information, are provided below: Additional Information for 2021: 1. Net income is $69,000. 2. The company purchases $120,000 in equipment. 3. Depreciation expense is $160,000. 4. The company repays $100,000 in notes payable. 5. The company declares and pays a cash dividend of $25,000. Required: Prepare the statement of cash flows usina the indirect method. (List cash outflows and anv decrease in cash

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

mework Chapter 10 and Help Save & Exit Submit Check my work PLASMA SCREENS CORPORATION Balance Sheets December 31, 2021 and 2020 2021 $ $ ts 108,900 82,000 105,000 6,000 126, 800 97.000 89,000 3,000...

PLASMA SCREENS CORPORATION Balance Sheets December 31, 2021 and 2020 2021 2020 $ 155,850 75,200 88,000 2,600 $ 174,600 88,500 73,700 1,300 445,000 738,000 (409,000) $1,095,650 445,000 635,000...

PLASMA SCREENS CORPORATION Balance Sheets December 31, 2021 and 2020 2021 2020 $ $ 142,950 76,800 92,000 3,400 154,000 90,500 77,300 1,700 465,000 762,000 (421,000) $1,121,150 465,000 655,000...

The comparative, undassified statement of financal position for Pharoah Ltd shows the following balances at December 31 . Additional information regarding 2021: 1. Net income was $11,000 2. Trading...

Prepare the statement of cash flows using the indirect method. (List cash outflows and any decrease in cash as negotive amounts.) Additional Information for 2021 : 1. Net income is $78,000. 2. The...

Balance Sheets December 31, 2021 and 2020 2021 2020 $ $ 154,350 74,400 86,000 2,200 169,000 87,500 71,900 1,100 435,000 726,000 (403,000) $1,074,950 435,000 625,000 (250,000) $1,139,500 Assets...

PLASMA SCREENS CORPORATION Balance Sheets December 31, 2021 and 2020 2021 2020 $ $ 107,800 80,000 100,000 5,000 118,100 94,500 84,500 2,500 Assets Current assets! Cash Accounts receivable Inventory...

PLASMA SCREENS CORPORATION Balance Sheets December 31, 2021 and 2020 2021 2020 Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Land Equipment Accumulated...

The comparative, unclassified statement of financial position for Pharoah Ltd. shows the following balances at December 31 : Pharoah Ltd. Statement of Financial Position December 31...

PLASMA SCREENS CORPORATION Balance Sheets December 31, 2021 and 2020 2021 2020 $ $ 115,000 79,600 99,000 4,800 131,200 94,000 83,600 2,400 500,000 806,000 (432,000) $1,172,400 500,000 690,000...

Mama Africa Company manufactured Ipads which are reported on a Job sheet. The data for Job no 68 which involve the production of 200 units of Ipad. The total standard and actual costs for materials...

Crescent Sdn Bhd (Crescent) manufactures plastic containers and has a paid up share capital of RM2.3 million with annual gross business income of RM10 million. The company closes its accounts...

Go Bach q , trasiurl | l | tint Ye ( 1 ) n - 4 ormely Chers 6 8 Which one of the following best describes the role of commodity trading houses? 3 . 2 2 % ) They act as the intermediaries between...

Santana Rey expects sales of Business Solutionss line of computer workstation furniture to equal 300 workstations (at a sales price of $3,500 each) for 2018. The workstations manufacturing costs...