Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the income statement, balance sheets, and addition

The income statement, balance sheets, and additional information for Cloud Mangu are provided. Additional Information...

90.2K

Verified Solution

Question

Accounting

image
image
image
image
The income statement, balance sheets, and additional information for Cloud Mangu are provided. Additional Information for 2024 : 1. Purchased investment in bonds for $109,000. 2. Sold land for $25,600. The land originally was purchased for $34,000, resulting in a $8,400 loss being recorded at the time of the sale. 3. Purchased $64,000 in equipment by issuing a $64,000 long-term note payable to the seller. No cash was exchanged in the transaction. 4. Declared and paid a cash dividend of $27,000. Required: Prepare the statement of cash flows using the indirect method. Oisclose any noncash transactions in an accompanying note. Note: Amounts to be deducted, cash outflows, and any decrease in cash should be indicated with a minus sign. CLOUD MANGU Statement of Cash Flows For the Year Ended December 31, 2024 Cash Flows from Operating Activities: Adjustments to reconcile net income to net cash flows from operating activities: Net cash flows from operating activities Cash Flows from Investing Activities: Net cash fows from investing activities Cash Flows from Financing Activities: Net cash fows from 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

Accounting
1.2K views

In your own words, explain what you see as some of thecommon problems of...

Statistics
1.2K views

Be honest, have you ever met someone, only to be shocked that you share the same...

General Management
1.2K views

1) discuss how projects are identified. 2) Explain how projects are prioritized and selected. 3) Describe the...

Physics
1.2K views

The refractive indices of the material of a prism for red and violet colours are...

Basic Math
1.2K views

3.25H +2.25C = 32The above equation is true if Thea buys H pounds of ham...

Calculus
1.2K views

Evaluate the limit using L H pital s rule 7x lim X18 e5x

Accounting
1.2K views

This question makes an important point: the maximum point of a function may...

Accounting
1.2K views

Adelberg Company has two products: A and B. The annual production and sales of Product...

Accounting
1.2K views

422 Q3. In your words, discuss why some fixed assets require alms to be paid...

Accounting
1.2K views

please help fix red cells. i attached feedback i got from my first attempt ...

Finance
1.2K views

Trading invests RM40,000 in portfolio which consists of stocks BIT and SIT. Stock SIT is...

Finance
1.2K views

Question 1 2 pts I have a new hobby - a saltwater fish tank that...