Jessica Green, controller of Monahan, Inc., has asked you to prepare the company's cash flow statement...

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Jessica Green, controller of Monahan, Inc., has asked you to prepare the company's cash flow statement for the current fiscal year ending December 31. The income statement and balance sheet have been already prepared. Those financial statements and the following information are available to you. Equipment was acquired on December 28th of the current year. The equipment was acquired by giving a 180 day note payable for 30,540 Monahan, Inc. built an addition to their building. The addition was occupied and paid for on January 2nd of the current year. The original building had a useful life of 60 years with no residual value. The addition will last 40 years with no residual value. The addition %24 27,000 Early in the Monahan, Inc. year the company sold equipment with the following cost and book value. The remaining equipment is being depreciated using straight-line depreciation over 8 years with no residual value. Cost 40,700 Book value 4,984 Proceeds 14,900 The leased equipment has a useful life of 10 years and the lease term is 8 years. The lease was signed and the equipment delivered on December J0th of the prior year. The lease contains an option for Tyler Inc. to buy the equipment at the end of the lease term for $500. The incremental borrowing rate for Tyler Inc. is 8.3%. Thelesssor's implicit interest rate is 7.5%. The annual lease payments are $8,267. Monahan, Inc, invested its idle cash in trading securities. At the beginning of the year its trading portfolio was as follows Security Cost Market Fog & Flame 7.560 7,000 8,680 9,520 25,200 Starbucks 5,040 Seattle's Best 7,400 20,000 Totals At the end of the current year, its trading portfolio was as follows Security Dunkin Donut Cost Market S,100 5,320 Pizza Hut 4.340 13,420 4,340 During the first quarter, the company sold all of the trading securities for S23,800 On February 20h of the current year, Monahan. Ine. purchsed Reutsel Company S 186.580 Early in March of the current vear. Monahan. Inc. tinally sold its sold factory facility. which had nnt been used fer two vears. The building and land were sold for S 20,650 REQUIRED, Prepare a Cal Flow Stnt for she vear ending Devember 31. using the direet apechdmeletodctenencod.rkahect. l Make ure use ue the direct approa. You might k vourel why I picked the direct appeach Jessica Green, controller of Monahan, Inc., has asked you to prepare the company's cash flow statement for the current fiscal year ending December 31. The income statement and balance sheet have been already prepared. Those financial statements and the following information are available to you. Equipment was acquired on December 28th of the current year. The equipment was acquired by giving a 180 day note payable for 30,540 Monahan, Inc. built an addition to their building. The addition was occupied and paid for on January 2nd of the current year. The original building had a useful life of 60 years with no residual value. The addition will last 40 years with no residual value. The addition %24 27,000 Early in the Monahan, Inc. year the company sold equipment with the following cost and book value. The remaining equipment is being depreciated using straight-line depreciation over 8 years with no residual value. Cost 40,700 Book value 4,984 Proceeds 14,900 The leased equipment has a useful life of 10 years and the lease term is 8 years. The lease was signed and the equipment delivered on December J0th of the prior year. The lease contains an option for Tyler Inc. to buy the equipment at the end of the lease term for $500. The incremental borrowing rate for Tyler Inc. is 8.3%. Thelesssor's implicit interest rate is 7.5%. The annual lease payments are $8,267. Monahan, Inc, invested its idle cash in trading securities. At the beginning of the year its trading portfolio was as follows Security Cost Market Fog & Flame 7.560 7,000 8,680 9,520 25,200 Starbucks 5,040 Seattle's Best 7,400 20,000 Totals At the end of the current year, its trading portfolio was as follows Security Dunkin Donut Cost Market S,100 5,320 Pizza Hut 4.340 13,420 4,340 During the first quarter, the company sold all of the trading securities for S23,800 On February 20h of the current year, Monahan. Ine. purchsed Reutsel Company S 186.580 Early in March of the current vear. Monahan. Inc. tinally sold its sold factory facility. which had nnt been used fer two vears. The building and land were sold for S 20,650 REQUIRED, Prepare a Cal Flow Stnt for she vear ending Devember 31. using the direet apechdmeletodctenencod.rkahect. l Make ure use ue the direct approa. You might k vourel why I picked the direct appeach

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Statement of cash flows for the year ended December 31 20X... View the full answer