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Read the requirements Data Table Comparative Balance Sheet Requirement 1. Compute the acquisition of plant assets for Smith Media Corporation during 2018. The business sold no plant assets during the year. Assume the company paid cash for the acquisition of plant assets December 31, 2018 and 2017 The acquisition of equipment is$ Assets 2018 2017 Current Assets Data Table Cash $ 5,300 $ 4,200 Accounts Receivable 10,600 5,600 Requirements Long-term Assets Plants Assets Smith Media Corporation Income Statement Year Ended December 31, 2018 104,350 88,350 (35,350) (20,350) $ 84,900 $ 77,800 Accumulated Depreciation-Plant Assets

Respuesta :

Start the Cash Flow Statement with $51,000 in Net Income. Add the $26,000 non-cash Depreciation.

When using the indirect method, the first step in creating a Cash Flow Statement is to calculate the company's Net Income for the specified time period. Cash Flow from Operating Activities is the result of adjusting that balance for non-cash items like depreciation and amortization, gains or losses on asset sales, and shifts in current assets and liabilities.

An income proclamation sums up how much endlessly cash counterparts entering and leaving an organization. The CFS emphasizes a business's cash management, including its cash generation efficiency. This fiscal summary supplements the asset report and the pay proclamation.

What are the 3 kinds of income articulation?

  • Expenditure cash flow
  • Putting away income.
  • funding the cash flow.

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