Fill This Form To Receive Instant Help

Help in Homework
trustpilot ratings
google ratings


Homework answers / question archive / Comparative statements of financial position for Anderson Inc

Comparative statements of financial position for Anderson Inc

Accounting

Comparative statements of financial position for Anderson Inc. appear below: ANDERSON INC. Comparative Statements of Financial Position Assets Dec 31, 2018 Cash $ 29,000 Accounts receivable 28,000 Prepaid expenses 9,000 Inventory 37.000 Long-term investments 0 Equipment 110.000 Accumulated depreciation equipment (26.000) Total assets S187A000 Dec 31, 20 $ 10,000 19.000 12,000 54,000 53,000 48.000 22.000) S174.000 Liabilities and Shareholders' Equity Accounts payable $ 21,000 Mortgage payable 37,000 Common shares 40,000 Retained earnings 89.000 Total liabilities and shareholders' equity $187.000 $ 9,000 45,000 23.000 97.000 $174.000 Additional information regarding fiscal 2018: 1. Net income for the year was $27,000. This amount includes the loss on sale of long- term investments of S 5,000. 2. Cash dividends of $35,000 were declared and paid during the year. 3. Long-term investments with a carrying amount of $53,000 were sold for $48,000 cash Instructions Using the indirect method, prepare a statement of cash flows for the year ended December 31, 2018

Option 1

Low Cost Option
Download this past answer in few clicks

2.87 USD

PURCHASE SOLUTION

Already member?


Option 2

Custom new solution created by our subject matter experts

GET A QUOTE

Related Questions