?14-35A (Similar to) Data Table The comparative balance sheet of Morston Educati

Question

?14-35A (Similar to) Data Table The comparative balance sheet of Morston Educational Supply at December 31, 2018, reported the following ?(Click the icon to view the comparative balance sheet.) Morston's transactions during 2018 included the following EEE (Click the icon to view the transactions.) Read the requirements 2018 2017 Current Assets: Cash Accounts Receivable Merchandise Inventory $ 97,700 $ 18,500 21,900 59,200 14,500 Cash Flows from Operating Activities: 63,900 Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: Current Liabilities: Accounts Payable 30,100 26,100 Accrued Liabilities 10,500 11,100 Data Table Print Done Payment of cash dividends Purchase of equipment with cash Issuance of long-term notes payable to borrow cash Issuance of common stock for cash 17,200 100,000 60,600 $ 13,200 Depreciation expense 54,500 50,000 113,000 Purchase of building with cash Net income Ch PrintDone Check Answer

Explanation / Answer

Answer:-

Morston Educational supply Statement of Cash Flow (Using Indirect Method) For the year ended December 2018 Particulars Amount $ Cash flow from opreating activities Case A Net Income 60600 Adjustments to reconcile net income to net cash provided by opreating activities Adjustment for non cash effects Depreciation 17200 Loss on sale of equipment Change in opreating assets & liabilities Decrease in accounts receivable 7400 Increase in inventory -4700 Increase in accounts payable 4000 Decrease in Accrued liabilities -600 Net cash flow from opreating activities (a) 83900

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