E16B-31 (similar to) The income statement and additional data of Energy Plus, In

Question

E16B-31 (similar to) The income statement and additional data of Energy Plus, Inc. follow: (Click the icon to view the income statement)(Click the icon to view the additional data.) Prepare the spreadsheet for the 2016 statement of cash flows. Format cash flows from operating activities by the indirect method Use the transaction references in Panel B when selecting the transaction references in Panel A. (If a box is not used in the spreadsheet, leave the box empty; do not Question Help select a label or enter a zero. Do not check your answer until both Panel A and Panel B have been completed.) Energy Plus, Inc Spreadsheet for Statement of Cash Flows Year Ended September 30, 2016 Balance Transaction Analysis Balance Panel A-Balance Sheet: 9/30/2015 DEBIT CREDIT 9/30/2016 Cash Accounts Receivable Merchandise Inventory Plant Assets $7,000 52,000 93,000 85,000 $ 35,000 38,000 97,000 201,000 (22,000) 102,000 $317,000 (49,000) 74,000 $ 396,000 Accumulated Depreciation-Plant Assets Land Choose from any list or enter any number in the input fields and then click Check Answer

Explanation / Answer

Cash Flow Debit Credit Ref $ Ref $ Net Income a 50000 adjustment to net income: Depreciation b 27000 Decrease in Receivable c 14000 Increase in Inventory d 4000 Increase in Accounts Payable e 14000 Decrease in Accrued Liabi f 12000 Cash flow from investing activity: Purchase of Equipment (only cash) g 101000 Sale of Land h 28000 Cash flow from financing activity: Note Payable (15000-14000) j 14000 Issue of common share i 31000 Dividend paid k 5000 Cash used for financing activity: Total 164000 136000 Increase in Cash Balance (35000-70000) 28000 Grand Total 164000 164000 Non Cash Note payable issue 15000 g2 Balance Sheet Debit Credit Opening Ref $ Ref $ Closing Cash 7000 28000 35000 Accounts Receivable 52000 a 14000 38000 Inventory 93000 d 4000 97000 Plant Asset 85000 g 101000 201000 g2 15000 Accu-dep -22000 a -27000 -49000 Land 102000 h 28000 74000 Total Asset 317000 32000 131000 396000 Accounts Payable 19000 e 14000 33000 Accrued Liability 27000 f 12000 15000 Notes payable 14000 j 14000 g2 15000 15000 Total Liabilities 60000 26000 29000 63000

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