Statement of Cash Flows Question. I have the key, please tell me how to get...
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Statement of Cash Flows Question.
I have the key, please tell me how to get each answer's number. I need the specific calculate.
Part 1. Indirect Method (13 points) The comparative balance sheets for NCAA Corporation show the following information. December 31 2017 2016 Cash Accounts receivable Invento Investments Buildin Equipment Patent Totals $70,350 $56,000 42,000 28,000 14,000 105,000 84,000 21,000 $472,150 $350,000 56,700 36,400 0 0 294,000 14,700 Allowance for doubttful accounts Accumulated depreciation on equipment Accumulated depreciation on buildin Accounts pavable Dividends pavable Notes pavable, short-term (nontrade Long-term notes pavable Common stock Retained earnings Totals $13,125$17,500 21,000 31,500 14,000 24,500 35,000 84,000 91,000 31,500 $472,150 $350,000 8,400 0 21,000 0 26,250 184,800 131,950 86,625 Additional data related to 2017 are as follows: Equipment that had cost $37,800 and was 80% depreciated at time of disposal was sold for $9,450 $40,950 of the long-term note payable was paid by issuing common stock. Cash dividends $24,500 were paid. On January 1, 2017, the building was completely destroyed by a flood. Insurance proceeds on the building were $110,250 (after netting $8,820 taxes) Investments (available-for-sale) were sold at $6,300 above their cost. The company has made similar sales and investments in the past. Along-term note for $141,750 was issued for the acquisition of equipment. 1. 2. 3. 4. 5. 6
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