Managerial Accounting-Fall 2018-9 AM Section Homework: Cash Flow Statement Score: 0 of 1 pt E13-12A (similar to) 1 of 7 (5 complete) The comparative balance sheet for Majestic Travel Services, Inc., for December 31, 2017 and 2016, is as follows: EEB (Click the icon to view the comparative balance sheet.) The following information is taken from the records of Majestic Travel Services, Inc.: Click the icon to view the transaction data.) Majestic Travel Services, Inc., uses the indirect method for preparing the statement of cash flows. Prepare the operating section of the statement of cash flows for2 outflow. Majestic Travel Services, Inc. Statement of Cash Flows-Operating Activities Section (Indirect Method) For the Year Ended December 31, 2017 Operating Activities: Adjustments to reconcile net income to cash basis: Net cash provided by (used for) operating activities in the innut felds and then click Check Answer or Deci Balance Sheet vel Ser Majestic Travel Services, Inc. Comparative Balance Sheets December 31,2017 and 2016 Assets ing the e parentheses or a mi 2017 2016 Current assets: Cash Accounts receivable Inventory Prepaid insurance ction (In , 2017 $ 42,000 $ 15,000 82,000 87,000 55,000 23,000 8,000 14,000 $ 187,000 $ 139,000 Total current assets Land Equipment Less Total assets 103,000 120,000 84,000 60,000 (21,000) (14,000) $ 353,000 $ 305,000 Liabilities Current liabilities: Accounts payable Wages payable Interest payable $ 27,000S 30,000 33,000 24,000 13,00012,000 Print Done ields and then lear sic Tiavel Servies, Inc. r preparing the statement of cash flows. Prepare the operating section of the statement of cash flows for 2017.(Use parenthe ces, Inc. ities Section (Indirect Method) mber 31, 2017 i Transactions a. Land was sold for $13,400 b. Equipment was purchased for cash. C.There were no disposals of equipment during the year. d The common stock was issued for cash. e. Net income for 2017 was $34,000 Cash dividends paid during the year were $9,000 Print Done it finlde and then click Check Answer. Managerial Accounting-Fall 2018-9 AM Section Homework: Cash Flow Statement Score: 0 of 1 pt E13-12A (similar to) 1 of 7 (5 complete) The comparative balance sheet for Majestic Travel Services, Inc., for December 31, 2017 and 2016, is as follows: EEB (Click the icon to view the comparative balance sheet.) The following information is taken from the records of Majestic Travel Services, Inc.: Click the icon to view the transaction data.) Majestic Travel Services, Inc., uses the indirect method for preparing the statement of cash flows. Prepare the operating section of the statement of cash flows for2 outflow. Majestic Travel Services, Inc. Statement of Cash Flows-Operating Activities Section (Indirect Method) For the Year Ended December 31, 2017 Operating Activities: Adjustments to reconcile net income to cash basis: Net cash provided by (used for) operating activities in the innut felds and then click Check Answer or Deci Balance Sheet vel Ser Majestic Travel Services, Inc. Comparative Balance Sheets December 31,2017 and 2016 Assets ing the e parentheses or a mi 2017 2016 Current assets: Cash Accounts receivable Inventory Prepaid insurance ction (In , 2017 $ 42,000 $ 15,000 82,000 87,000 55,000 23,000 8,000 14,000 $ 187,000 $ 139,000 Total current assets Land Equipment Less Total assets 103,000 120,000 84,000 60,000 (21,000) (14,000) $ 353,000 $ 305,000 Liabilities Current liabilities: Accounts payable Wages payable Interest payable $ 27,000S 30,000 33,000 24,000 13,00012,000 Print Done ields and then lear sic Tiavel Servies, Inc. r preparing the statement of cash flows. Prepare the operating section of the statement of cash flows for 2017.(Use parenthe ces, Inc. ities Section (Indirect Method) mber 31, 2017 i Transactions a. Land was sold for $13,400 b. Equipment was purchased for cash. C.There were no disposals of equipment during the year. d The common stock was issued for cash. e. Net income for 2017 was $34,000 Cash dividends paid during the year were $9,000 Print Done it finlde and then click Check