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sare a statement of cash f et method, and compte free Excel P13.7A (LO 2, 3), AN The following are the financial statements of Nosker Company Nosker Company Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Equipment Accumulated depreciation equipment Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total Sales revenue Cost of goods sold Gross pro Operating expenses Income from operations Income before income taxes Income tax expense 2020 $ 38,000 30,000 27,000 Noker Company Income Statement For the Year Ended December 31, 2020 $126.000 $ 24,000 1,000 27,000 Instructions & Prepare a statement of cash flows using the indirect method. b. Compute free cash flow 18,000 50,000 $126,000 $342.000 175,000 67,000 24,000 43,000 3,000 40,000 8,000 $ 32,000 3. All depreciation expense. $14.500, is in the operating expenses. 4 All sales and purchases are on account. 2019 $ 20,000 20,000 78,000 (24,000) $108.000 $ 15,000 Additional data 1. Dividends declared and paid were $20,000 2. During the year, exquipment was sold for $8.500 cash. This equipment cost $18,000 originally and had a book value of $8,500 at the time of sale 14,000 38,000 SI08.000 a Cash from operating activities $31,500

sare a statement of cash f et method, and compte free Excel P13.7A (LO 2, 3), AN The following are the financial statements of Nosker Company Nosker Company Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Equipment Accumulated depreciation equipment Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total Sales revenue Cost of goods sold Gross pro Operating expenses Income from operations Income before income taxes Income tax expense 2020 $ 38,000 30,000 27,000 Noker Company Income Statement For the Year Ended December 31, 2020 $126.000 $ 24,000 1,000 27,000 Instructions & Prepare a statement of cash flows using the indirect method. b. Compute free cash flow 18,000 50,000 $126,000 $342.000 175,000 67,000 24,000 43,000 3,000 40,000 8,000 $ 32,000 3. All depreciation expense. $14.500, is in the operating expenses. 4 All sales and purchases are on account. 2019 $ 20,000 20,000 78,000 (24,000) $108.000 $ 15,000 Additional data 1. Dividends declared and paid were $20,000 2. During the year, exquipment was sold for $8.500 cash. This equipment cost $18,000 originally and had a book value of $8,500 at the time of sale 14,000 38,000 SI08.000 a Cash from operating activities $31,500

Financial And Managerial Accounting
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter13: Statement Of Cash Flows
Section: Chapter Questions
Problem 3PB: Statement of cash flowsindirect method The comparative balance sheet of Coulson, Inc. at December...
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NOTE: Using INDIRECT Method (Cash Flow) 

Prepare a statement of cash f indirect method, and compone free Excel P13.7A (LO 2, 3), AN The following are the financial statements of Nosker Company. Nosker Company Comparative Balance Sheets December 31 Cash Accounts receivable Inventory Equipment Accumulated depreciation equipment Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total Sales revenue Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income taxes Income tax expense Net income 2020 $ 38,000 30,000 27,000 60,000 (29,000) Nosker Company Income Statement For the Year Ended December 31, 2020 $126,000 $ 24,000 7,000 27,000 18,000 50,000 $126,000 Instructions a. Prepare a statement of cash flows using the indirect method. b. Compute free cash flow. $242,000 175,000 67,000 24,000 43,000 40,000 8,000 $ 32.000 3. All depreciation expense, $14,500, is in the operating expenses. 4. All sales and purchases are on account. 2019 $ 20,000 14,000 20,000 78,000 (24,000) $108,000 $ 15,000 8,000 Additional data: 1. Dividends declared and paid were $20,000. 2. During the year, equipment was sold for $8.500 cash. This equipment cost $18,000 originally and had a book value of $8,500 at the time of sale. 33,000 14,000 38,000 $108,000 a. Cash from operating activities $31,500
Transcribed Image Text:Prepare a statement of cash f indirect method, and compone free Excel P13.7A (LO 2, 3), AN The following are the financial statements of Nosker Company. Nosker Company Comparative Balance Sheets December 31 Cash Accounts receivable Inventory Equipment Accumulated depreciation equipment Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total Sales revenue Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income taxes Income tax expense Net income 2020 $ 38,000 30,000 27,000 60,000 (29,000) Nosker Company Income Statement For the Year Ended December 31, 2020 $126,000 $ 24,000 7,000 27,000 18,000 50,000 $126,000 Instructions a. Prepare a statement of cash flows using the indirect method. b. Compute free cash flow. $242,000 175,000 67,000 24,000 43,000 40,000 8,000 $ 32.000 3. All depreciation expense, $14,500, is in the operating expenses. 4. All sales and purchases are on account. 2019 $ 20,000 14,000 20,000 78,000 (24,000) $108,000 $ 15,000 8,000 Additional data: 1. Dividends declared and paid were $20,000. 2. During the year, equipment was sold for $8.500 cash. This equipment cost $18,000 originally and had a book value of $8,500 at the time of sale. 33,000 14,000 38,000 $108,000 a. Cash from operating activities $31,500
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