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Accountants for Morston, Inc. have assembled the following data for the year ended December 31, 2024: (Click the icon to view the current accounts.) (Click the icon to view the transaction data.) Prepare Morston's statement of cash flows using the indirect method. Include an accompanying schedule of non-cash investing and financing activities. KIIN Complete the statement one section at a time, beginning with the cash flows from operating activities. (Use a minus sign or parentheses for amounts that result in a decrease in cash. If a box is not leave the box empty, do not select a label or enter a zero.) Morston, Inc. - Data table Statement of Cash Flows Year Ended December 31, 2024 Cash Flows from Operating Activities: 2024 2023 Net Income Adjustments to Reconcile Net Income to Net Cash $ 103,700 S Provided by (Used for) Operating Activities: 64,400 86,000 57,700 14,400 Net Cash Provided by (Used for) Operating Activities Data table Transaction Data for 2024: Issuance of common stock for cash Depreciation expense Purchase of equipment with cash Acquisition of land by issuing long-term notes payable Book value of building sold $ 39,000 21,000 68,000 114,000 55,000 Current Assets; Cash Accounts Receivable Merchandise Inventory Accounts Payable Income Tax Payable Print Current Liabilities: Payment of notes payable Payment of cash dividends Issuance of notes payable to borrow cash Gain on sale of building Net income - X $ 42,100 46,000 58,000 3,000 70,500 Done 17,000 68,900 81,000 56,100 16,200

Accountants for Morston, Inc. have assembled the following data for the year ended December 31, 2024: (Click the icon to view the current accounts.) (Click the icon to view the transaction data.) Prepare Morston's statement of cash flows using the indirect method. Include an accompanying schedule of non-cash investing and financing activities. KIIN Complete the statement one section at a time, beginning with the cash flows from operating activities. (Use a minus sign or parentheses for amounts that result in a decrease in cash. If a box is not leave the box empty, do not select a label or enter a zero.) Morston, Inc. - Data table Statement of Cash Flows Year Ended December 31, 2024 Cash Flows from Operating Activities: 2024 2023 Net Income Adjustments to Reconcile Net Income to Net Cash $ 103,700 S Provided by (Used for) Operating Activities: 64,400 86,000 57,700 14,400 Net Cash Provided by (Used for) Operating Activities Data table Transaction Data for 2024: Issuance of common stock for cash Depreciation expense Purchase of equipment with cash Acquisition of land by issuing long-term notes payable Book value of building sold $ 39,000 21,000 68,000 114,000 55,000 Current Assets; Cash Accounts Receivable Merchandise Inventory Accounts Payable Income Tax Payable Print Current Liabilities: Payment of notes payable Payment of cash dividends Issuance of notes payable to borrow cash Gain on sale of building Net income - X $ 42,100 46,000 58,000 3,000 70,500 Done 17,000 68,900 81,000 56,100 16,200

Financial Accounting: The Impact on Decision Makers
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter12: The Statement Of Cash Flows
Section: Chapter Questions
Problem 12.5E
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Part 1 of 4 Points: 0 of 10 Accountants for Morston, Inc. have assembled the following data for the year ended December 31, 2024: (Click the icon to view the current accounts.) (Click the icon to view the transaction data.) Prepare Morston's statement of cash flows using the indirect method. Include an accompanying schedule of non-cash investing and financing activities. Complete the statement one section at a time, beginning with the cash flows from operating activities. (Use a minus sign or parentheses for amounts that result in a decrease in cash. If a box is not use leave the box empty, do not select a label or enter a zero.) Morston, Inc. - Data table Statement of Cash Flows Year Ended December 31, 2024 Cash Flows from Operating Activities: 2024 2023 Net Income Adjustments to Reconcile Net Income to Net Cash $ 103,700 $ Provided by (Used for) Operating Activities: 64,400 86,000 57,700 14,400 Net Cash Provided by (Used for) Operating Activities Data table Transaction Data for 2024: Issuance of common stock for cash Depreciation expense Purchase of equipment with cash Acquisition of land by issuing long-term notes payable Book value of building sold Help me so # 3 E o f4 4 101 R f5 % 5 T f6 & 7 Current Assets: Cash Accounts Receivable Merchandise Inventory Current Liabilities: Accounts Payable Income Tax Payable 1 Print $ 39,000 Payment of notes payable $ 42,100 Payment of cash dividends 46,000 21,000 68,000 114,000 58,000 Issuance of notes payable to borrow cash Gain on sale of building 3,000 55,000 Net income 70,500 Copyright @ 2022 Doa con Education Inc. All rights reserved 3 O hp f8 8 - X fg H Done 144 fio Clear all 17,000 68,900 81,000 56,100 16,200 Os of Lice 9 Check
Transcribed Image Text:Part 1 of 4 Points: 0 of 10 Accountants for Morston, Inc. have assembled the following data for the year ended December 31, 2024: (Click the icon to view the current accounts.) (Click the icon to view the transaction data.) Prepare Morston's statement of cash flows using the indirect method. Include an accompanying schedule of non-cash investing and financing activities. Complete the statement one section at a time, beginning with the cash flows from operating activities. (Use a minus sign or parentheses for amounts that result in a decrease in cash. If a box is not use leave the box empty, do not select a label or enter a zero.) Morston, Inc. - Data table Statement of Cash Flows Year Ended December 31, 2024 Cash Flows from Operating Activities: 2024 2023 Net Income Adjustments to Reconcile Net Income to Net Cash $ 103,700 $ Provided by (Used for) Operating Activities: 64,400 86,000 57,700 14,400 Net Cash Provided by (Used for) Operating Activities Data table Transaction Data for 2024: Issuance of common stock for cash Depreciation expense Purchase of equipment with cash Acquisition of land by issuing long-term notes payable Book value of building sold Help me so # 3 E o f4 4 101 R f5 % 5 T f6 & 7 Current Assets: Cash Accounts Receivable Merchandise Inventory Current Liabilities: Accounts Payable Income Tax Payable 1 Print $ 39,000 Payment of notes payable $ 42,100 Payment of cash dividends 46,000 21,000 68,000 114,000 58,000 Issuance of notes payable to borrow cash Gain on sale of building 3,000 55,000 Net income 70,500 Copyright @ 2022 Doa con Education Inc. All rights reserved 3 O hp f8 8 - X fg H Done 144 fio Clear all 17,000 68,900 81,000 56,100 16,200 Os of Lice 9 Check
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