Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 3 (30 pts). the income statement and additional da

3 (30 pts). The income statement and additional data of Dreampark International, Inc, follow: DREAMPARK...

90.2K

Verified Solution

Question

Accounting

image
3 (30 pts). The income statement and additional data of Dreampark International, Inc, follow: DREAMPARK INTERNATIONAL, INC Income Statement Year Ended June 30, 2016 Revenues: $215,000 Service Revenue Cost of goods sold Salary expense Depreciation expense Income tax expense $78,000 49,000 15,000 5,600 147,600 $ 67,400 Additional data: a. Acquisition of plant assets is $109,000. Of this amount, $70,000 is paid in cash and $39,000 by signing a note payable. b. Cash receipt from sale of land totals $28,000. There was no gain or loss. c. Cash receipts from issuance of common stock total $20,000. d. Payment of note payable is $39,000. e. Payment of dividends is $15,000. f. From the balance sheet: June 30 2016 2015 Current Assets: $20400 $11,000 56,000 48,000 83,000 Cas Account receivable... Inventory.... Accounts payable. 90,000 Current Liabilities: $31,000 $26,000 Accrued liabilities. Requirement Prepare Freampark International, Inc.'s statement of cash flows for the year ended June 30, 2016, using the indirect method. Include a separate section for noncash investing and financing activities

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Geometry
1.2K views

20 Identify the coordinates of the center the vertices foci and the equation of the...

Finance
1.2K views

Laker Company reported the following January purchases and sales data for its only product. Date Activities...

Physics
1.2K views

9 6 when current passes through it if average The resistance of nichrome becomes 85...

Calculus
1.2K views

sin COS tan 1 0 2 3 ans 1 A truck with 30 in diameter...

Algebra
1.2K views

The function f x sin kx contains the point A 1 The function is a...

Accounting
1.2K views

Daniels Traines trains for children with a sing of $25 per...

Accounting
1.2K views

Horizontal analysis is the comparison of a company's financial information to a base amount. True...

Accounting
1.2K views

At the beginning of 2017, Stellar Company acquired a mine for $1,838,400. Of this amount,...

Accounting
1.2K views

Joel blocker has just rented space in a strip mall. in this space, he will...

Accounting
1.2K views

For governmental activities and total primary government presented on the statement of net position and...

Accounting
1.2K views

Reshier Company makes three types of rug shampooers. Model 1 is the basic model rented...

Finance
1.2K views

use 12% discount factor The Vaness Corporation is...