Use the Income Statement and Selected Balance Sheet info below to complete Accounting Detective's statement of cash flow. There were no NON CASH investing or financing activities, and you do not need the detail of those activities to complete this problem. This will be required to be written out on your PDF upload in the proper format. You may use the worksheet I provided. Accounting Detectives Income Statement For the year ending December 31, 2021 Net Sales 200,000 Cost of Goods Sold 125,000 Gross Profit 75,000 Operating Expenses General & Admin expenses 40,000 Selling & Marketing expenses 20,000 Amortization expense 3,000 Partial comparative balance sheet with select information needed: Depreciation expense 15,000 Total Operating Expenses 78,000 12/31/21 12/31/20 Loss from Operations (3,000) Cash 10,000 25,000 Other expenses Accounts Receivable, Net 45,000 10,000 Loss on sale of equipment 2,000 Inventory 8,000 6,000 Total other expenses 2,000 Property, Plant & Equipment 48,000 18,000 Accounts Payable Net Loss (5,000) 10,000 6,000 Unearned Revenue 3,000 20,000 Partial comparative balance sheet with select information need Loan Payable (long term) 150,000 Treasury Stock (12,000) (7,000) Retained Earnings 100,000 105,00 You may enter the subtotal for Operating Activities to get an idea of your score.
Use the Income Statement and Selected Balance Sheet info below to complete Accounting Detective's statement of cash flow. There were no NON CASH investing or financing activities, and you do not need the detail of those activities to complete this problem. This will be required to be written out on your PDF upload in the proper format. You may use the worksheet I provided. Accounting Detectives Income Statement For the year ending December 31, 2021 Net Sales 200,000 Cost of Goods Sold 125,000 Gross Profit 75,000 Operating Expenses General & Admin expenses 40,000 Selling & Marketing expenses 20,000 Amortization expense 3,000 Partial comparative balance sheet with select information needed: Depreciation expense 15,000 Total Operating Expenses 78,000 12/31/21 12/31/20 Loss from Operations (3,000) Cash 10,000 25,000 Other expenses Accounts Receivable, Net 45,000 10,000 Loss on sale of equipment 2,000 Inventory 8,000 6,000 Total other expenses 2,000 Property, Plant & Equipment 48,000 18,000 Accounts Payable Net Loss (5,000) 10,000 6,000 Unearned Revenue 3,000 20,000 Partial comparative balance sheet with select information need Loan Payable (long term) 150,000 Treasury Stock (12,000) (7,000) Retained Earnings 100,000 105,00 You may enter the subtotal for Operating Activities to get an idea of your score.
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 12.1KTQ
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Transcribed Image Text:Use the Income Statement and Selected Balance Sheet info below to complete Accounting
Detective's statement of cash flow.
There were no NON CASH investing or financing activities, and you do not need the detail of those
activities to complete this problem.
This will be required to be written out on your PDF upload in the proper format. You may use the
worksheet I provided.
Accounting Detectives
Income Statement
For the year ending December 31, 2021
Net Sales
200,000
Cost of Goods Sold
125,000
Gross Profit
75,000
Operating Expenses
General & Admin expenses
40,000
Selling & Marketing expenses
20,000
Amortization expense
3,000
Partial comparative balance sheet with select information needed:
Depreciation expense
15,000
Total Operating Expenses
78,000
12/31/21
12/31/20
Loss from Operations
(3,000)
Cash
10,000
25,000
Other expenses
Accounts Receivable, Net
45,000
10,000
Loss on sale of equipment
2,000
Inventory
8,000
6,000
Total other expenses
2,000
Property, Plant & Equipment
48,000
18,000
Net Loss
Accounts Payable
10,000
6,000
(5,000)
Unearned Revenue
3,000
20,000
Partial comparative balance sheet with select information neec
Loan Payable (long term)
150,000
Treasury Stock
(12,000)
(7,000)
Retained Earnings
100,000
105,00
You may enter the subtotal for Operating Activities to get an idea of your score.
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