Use the following excerpts from Zowleski Company’s financial information. Dec. 31, 2018 Dec. 31, 2017Cash$103,100 $95,000 Accounts Receivable22,100 22,900 Merchandise Inventory140,000 131,000 Plant Assets185,000 150,000 Accumulated Depreciation(25,000) (21,000) Total Assets$425,200 $377,900 Accounts Payable$19,000 $21,000 Notes Payable140,500 120,000 Common Stock20,000 20,000 Retained Earnings245,700 216,900 Total Liabilities and Equity$425,200 $377,900 Additional Information: Net Income for 2018$28,800 Depreciation Expense for 2018 (Accumulated Depreciation Increase)4,000 Plant Assets Purchased (Plant Assets Increase), Finance by Note35,000 Notes Payable Increased by Amount of Plant Assets Purchase35,000 Notes Payable Decreased by Amount of Principal Note Payments14,500 Prepare a statement of cash flows (indirect method) for the year 2018. Use the minus sign to indicate cash outflows, a decrease in cash or cash payments.Zowleski CompanyStatement of Cash Flows (Indirect Method)For the Year Ended December 31, 2018Cash Flow from Operating Activities: $fill in the blank 2Adjustments to Reconcile Net Income to Net Cash Flow from Operating Activities: $fill in the blank 4 fill in the blank 6 fill in the blank 8 fill in the blank 10fill in the blank 11Net Cash Flow from Operating Activities $fill in the blank 12Cash Flow from Financing Activities: $fill in the blank 14 Net Cash Flow from Financing Activities fill in the blank 15 $fill in the blank 17 fill in the blank 19 $fill in the blank 21Noncash Investing and Financing Activities: $fill in the blank 23 Use the following excerpts from Zowleski Company's financial information.Dec. 31, 2018Dec. 31, 2017Cash$103,100$95,000Accounts Receivable22,10022,900Merchandise Inventory140,000131,000Plant Assets185,000150,000Accumulated Depreciation(25,000)(21,000)Total Assets$425,200$377,900Accounts Payable$19,000$21,000Notes Payable140,500120,000Common Stock20,00020,000Retained Earnings245,700216,900Total Liabilities and Equity$425,200$377,900Additional Information:Net Income for 2018$28,800Depreciation Expense for 2018(Accumulated Depreciation Increase)4,000Plant Assets Purchased (Plant Assets Increase),Finance by Note35,000Notes Payable Increased by Amountof Plant Assets Purchase35,000 Zowleski CompanyStatement of Cash Flows (Indirect Method)For the Year Ended December 31, 2018Cash Flow from Operating Activities:Adjustments to Reconcile Net Income to Net Cash Flow from Operating Activities:Net Cash Flow from Operating ActivitiesCash Flow from Financing Activities:Net Cash Flow from Financing ActivitiesNoncash Investing and Financing Activities:

The statement which is prepared to record the cash flow from various activities into the business is…

Use the following excerpts from Zowleski Company’s financial information. Dec. 31, 2018 Dec. 31, 2017 Cash $103,100 $95,000 Accounts Receivable 22,100 22,900 Merchandise Inventory 140,000 131,000 Plant Assets 185,000 150,000 Accumulated Depreciation (25,000) (21,000) Total Assets $425,200 $377,900 Accounts Payable $19,000 $21,000 Notes Payable 140,500 120,000 Common Stock 20,000 20,000 Retained Earnings 245,700 216,900 Total Liabilities and Equity $425,200 $377,900 Additional Information: Net Income for 2018 $28,800 Depreciation Expense for 2018 (Accumulated Depreciation Increase) 4,000 Plant Assets Purchased (Plant Assets Increase), Finance by Note 35,000 Notes Payable Increased by Amount of Plant Assets Purchase 35,000 Notes Payable Decreased by Amount of Principal Note Payments 14,500 Prepare a statement of cash flows (indirect method) for the year 2018. Use the minus sign to indicate cash outflows, a decrease in cash or cash payments. Zowleski Company Statement of Cash Flows (Indirect Method) For the Year Ended December 31, 2018 Cash Flow from Operating Activities:

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 10MC

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Use the following excerpts from Zowleski Company’s financial information.

	Dec. 31, 2018	Dec. 31, 2017
Cash	$103,100	$95,000
Accounts Receivable	22,100	22,900
Merchandise Inventory	140,000	131,000
Plant Assets	185,000	150,000
Accumulated Depreciation	(25,000)	(21,000)
Total Assets	$425,200	$377,900

Accounts Payable	$19,000	$21,000
Notes Payable	140,500	120,000
Common Stock	20,000	20,000
Retained Earnings	245,700	216,900
Total Liabilities and Equity	$425,200	$377,900

Additional Information:
Net Income for 2018	$28,800
Depreciation Expense for 2018 (Accumulated Depreciation Increase)	4,000
Plant Assets Purchased (Plant Assets Increase), Finance by Note	35,000
Notes Payable Increased by Amount of Plant Assets Purchase	35,000
Notes Payable Decreased by Amount of Principal Note Payments	14,500

Prepare a statement of cash flows (indirect method) for the year 2018. Use the minus sign to indicate cash outflows, a decrease in cash or cash payments.

Zowleski Company
Statement of Cash Flows (Indirect Method)
For the Year Ended December 31, 2018
Cash Flow from Operating Activities:
		$fill in the blank 2
Adjustments to Reconcile Net Income to Net Cash Flow from Operating Activities:
	$fill in the blank 4
	fill in the blank 6
	fill in the blank 8
	fill in the blank 10	fill in the blank 11
Net Cash Flow from Operating Activities		$fill in the blank 12
Cash Flow from Financing Activities:
	$fill in the blank 14
Net Cash Flow from Financing Activities		fill in the blank 15
		$fill in the blank 17
		fill in the blank 19
		$fill in the blank 21
Noncash Investing and Financing Activities:
		$fill in the blank 23

Use the following excerpts from Zowleski Company's financial information.
Dec. 31, 2018
Dec. 31, 2017
Cash
$103,100
$95,000
Accounts Receivable
22,100
22,900
Merchandise Inventory
140,000
131,000
Plant Assets
185,000
150,000
Accumulated Depreciation
(25,000)
(21,000)
Total Assets
$425,200
$377,900
Accounts Payable
$19,000
$21,000
Notes Payable
140,500
120,000
Common Stock
20,000
20,000
Retained Earnings
245,700
216,900
Total Liabilities and Equity
$425,200
$377,900
Additional Information:
Net Income for 2018
$28,800
Depreciation Expense for 2018
(Accumulated Depreciation Increase)
4,000
Plant Assets Purchased (Plant Assets Increase),
Finance by Note
35,000
Notes Payable Increased by Amount
of Plant Assets Purchase
35,000

Zowleski Company
Statement of Cash Flows (Indirect Method)
For the Year Ended December 31, 2018
Cash Flow from Operating Activities:
Adjustments to Reconcile Net Income to Net Cash Flow from Operating Activities:
Net Cash Flow from Operating Activities
Cash Flow from Financing Activities:
Net Cash Flow from Financing Activities
Noncash Investing and Financing Activities:

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