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Selected financial information for the Adelphi Company for the fiscal years ended December 31, 2018 and...

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Accounting

Selected financial information for the Adelphi Company for thefiscal years ended December 31, 2018 and 2017 follows. Prepare acash flow statement using the indirect method. Properly title thestatement.

2017

2018

Net income

$142,500

$162,000

Depreciation Expense

42,000

35,000

Purchase of Plant Assets

135,000

125,000

Disposal of Plant Assets

40,000

50,000

Gain (Loss) on Disposal of Plant Assets

(10,000)

5,000

Accounts Receivable Balance

64,500

58,000

Accounts Payable Balance

42,000

39,000

Interest Expense

8,000

6,000

Income Taxes Paid

35,000

28,000

Dividends Paid

30,000

25,000

Common Stock Issued for Cash

20,000

0

Answer & Explanation Solved by verified expert
4.3 Ratings (851 Votes)

Adelphi Company
Cash Flow Statement
For the Year ended December 2018  
$ $
A.Cash Flow from Operating Activities:
Net Income     1,62,000.00
Add: Adjustments
Loss on disposal of plant asset            -5,000.00
Depreciation expense           35,000.00
Decrease in Accounts Payable            -3,000.00
Decrease in Accounts receivables             6,500.00        33,500.00
    1,95,500.00
B.Cash Flow from Investing Activities:
Purchase of Plant asset       -1,25,000.00
Disposal of Plant asset           50,000.00       -75,000.00
C.Cash Flow from Financing Activities:
Issue of Common Stock                        -  
Dividend paid          -25,000.00       -25,000.00
Increase (Decrease) in cash [A+B+C]        95,500.00

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