Midway Golf Club, Inc., has assembled the following data for the year ended September 30, 2018:...

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Midway Golf Club, Inc., has assembled the following data for the year ended September 30, 2018: (Click the icon to view the data.) Prepare the operating activities section of Midway Golf Club's statement of cash flows for the year ended September 30, 2018. The company uses the direct method for operating cash flows. Midway Golf Club, Inc. Statement of Cash Flows (Direct Method) Year Ended September 30, 2018 Cash flows from operating activities: Cash payments: Total cash payments Net cash provided by (used for) operating activities Data Table Cost of goods sold. Payments to suppliers Purchase of equipment with cash Payments to employees Payment of note payable Proceeds from sale of land Depreciation expense $ 103,000 Payment of dividends 114,000 Proceeds from issuance of common stock 34,000 72,000 Sales revenue.. 15,000 Collections from customers 45,000 Payment of income tax 8,000 Purchase of treasury stock $ 5,000 24,000 215,000 202,000 8,000 5,800 Midway Golf Club, Inc., has assembled the following data for the year ended September 30, 2018: (Click the icon to view the data.) Prepare the operating activities section of Midway Golf Club's statement of cash flows for the year ended September 30, 2018. The company uses the direct method for operating cash flows. Midway Golf Club, Inc. Statement of Cash Flows (Direct Method) Year Ended September 30, 2018 Cash flows from operating activities: Cash payments: Total cash payments Net cash provided by (used for) operating activities Data Table Cost of goods sold. Payments to suppliers Purchase of equipment with cash Payments to employees Payment of note payable Proceeds from sale of land Depreciation expense $ 103,000 Payment of dividends 114,000 Proceeds from issuance of common stock 34,000 72,000 Sales revenue.. 15,000 Collections from customers 45,000 Payment of income tax 8,000 Purchase of treasury stock $ 5,000 24,000 215,000 202,000 8,000 5,800

Answer rating: 100% (QA)

Particulars Cash flow from Operating Activities Collection from custo... View the full answer