Minerals Plus, Inc. Spreadsheet for Statement of Cash Flows Year Ended September 30, 2018 Balance Transaction...

 

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Minerals Plus, Inc. Spreadsheet for Statement of Cash Flows Year Ended September 30, 2018 Balance Transaction Analysis Balance Panel A-Balance Sheet: 9/30/2017 DEBIT CREDIT 9/30/2018 Cash $ 13,000 (1) 20,000 $ 33,000 Accounts Receivable Merchandise Inventory Plant Assets 51,000 11,000 (c) 40,000 93,000 (d) 3,000 96,000 55,000|| (91) 169,000 (g2) Accumulated Depreciation-Plant Assets Land Total Assets (35,000) 107,000 $ 284,000 30,000 (b) (65,000) 24,000 (h) 83,000 $ 356,000 Cash Flows from Investing Activities: Cash Payment for Acquisition of Plant Assets Cash Receipt for Sale of Land Net Cash Used for Investing Activities Cash Flows from Financing Activities: (g1) (h) Cash Payment of Notes Payable Cash Receipt from Issuance of Common Stock (i) Cash Payment of Dividends (k) Net Cash Used for Financing Activities Net Increase in Cash (1) Non-cash Investing and Financing Activities: Acquisition of Plant Assets by Issuing NP (92) Total Non-cash Investing and Financing Activities (g2) Total Net Sales Revenue Minerals Plus, Inc. Income Statement Year Ended September 30, 2018 Cost of Goods Sold Gross Profit Operating Expenses: a. Acquisition of plant assets is $114,000. Of this amount, $102,000 is paid in cash and $12,000 by signing a note payable. b. Cash receipt from sale of land totals $24,000. There was no gain or loss. C. Cash receipts from issuance of common stock total $26,000. d. 236,000 e. Payment of note payable is $11,000. Payment of dividends is $13,000. 97,000 f. From the balance sheet: 139,000 Salaries Expense $ 50,000 Depreciation Expense-Plant Assets 30,000 80,000 Total Operating Expenses Net Income Before Income Taxes Income Tax Expense Net Income Print Done September 30 2018 2017 Cash $ 33,000 $ 13,000 Accounts Receivable 40,000 51,000 Merchandise Inventory 96,000 93,000 59,000 Land 83,000 107,000 7,000 Plant Assets 169,000 55,000 $ 52,000 Accumulated Depreciation (65,000) (35,000) Accounts Payable 39,000 24,000 Accrued Liabilities 18,000 27,000 Minerals Plus, Inc. Spreadsheet for Statement of Cash Flows Year Ended September 30, 2018 Balance Transaction Analysis Balance Panel A-Balance Sheet: 9/30/2017 DEBIT CREDIT 9/30/2018 Cash $ 13,000 (1) 20,000 $ 33,000 Accounts Receivable Merchandise Inventory Plant Assets 51,000 11,000 (c) 40,000 93,000 (d) 3,000 96,000 55,000|| (91) 169,000 (g2) Accumulated Depreciation-Plant Assets Land Total Assets (35,000) 107,000 $ 284,000 30,000 (b) (65,000) 24,000 (h) 83,000 $ 356,000 Cash Flows from Investing Activities: Cash Payment for Acquisition of Plant Assets Cash Receipt for Sale of Land Net Cash Used for Investing Activities Cash Flows from Financing Activities: (g1) (h) Cash Payment of Notes Payable Cash Receipt from Issuance of Common Stock (i) Cash Payment of Dividends (k) Net Cash Used for Financing Activities Net Increase in Cash (1) Non-cash Investing and Financing Activities: Acquisition of Plant Assets by Issuing NP (92) Total Non-cash Investing and Financing Activities (g2) Total Net Sales Revenue Minerals Plus, Inc. Income Statement Year Ended September 30, 2018 Cost of Goods Sold Gross Profit Operating Expenses: a. Acquisition of plant assets is $114,000. Of this amount, $102,000 is paid in cash and $12,000 by signing a note payable. b. Cash receipt from sale of land totals $24,000. There was no gain or loss. C. Cash receipts from issuance of common stock total $26,000. d. 236,000 e. Payment of note payable is $11,000. Payment of dividends is $13,000. 97,000 f. From the balance sheet: 139,000 Salaries Expense $ 50,000 Depreciation Expense-Plant Assets 30,000 80,000 Total Operating Expenses Net Income Before Income Taxes Income Tax Expense Net Income Print Done September 30 2018 2017 Cash $ 33,000 $ 13,000 Accounts Receivable 40,000 51,000 Merchandise Inventory 96,000 93,000 59,000 Land 83,000 107,000 7,000 Plant Assets 169,000 55,000 $ 52,000 Accumulated Depreciation (65,000) (35,000) Accounts Payable 39,000 24,000 Accrued Liabilities 18,000 27,000