3.00 points Suppose the income statement for Goggle Company reports $163 of net

Question

3.00 points Suppose the income statement for Goggle Company reports $163 of net income, after deducting depreciation of $18. The company bought equipment costing $145 and obtained a long-term bank loan for $148. 1. Calculate the change in each balance sheet account and indicate whether each account relates to operating, investing, and/or financing activities (+ for increase and - for decrease). (Select "NE" if there is no effect. Enter all amounts as positive values.) Previous Year Current Year Change Type 52 S 369 200 152 730 (48) 1.414 84 010 Cash 92 345 585 (28) 1048 S 27 482 27 Accounts Receivable Equipment Accumulated Depreciation- Equipment Total Salaries and Wages Payable Notes Payable cong-term) Common Stock Retained Eamings 1,040 5 14 74 2. Rrepare a sacement of cesn fows uaing the indirect metncd Amounts to be deducted should be indicated with minus sign h Flows

Explanation / Answer

1.

2.

6. The cash flows are typical of a healthy company.

Previous year Current year Change Type Cash 52 369 Accounts Receivable 92 209 -117 Operating Inventory 345 152 +193 Operating Equipment 585 730 -145 Investing Accumulated depreciation - equipment -28 -46 +18 Operating Total 1046 1414 Salaries and wages payable 27 84 +57 Operating Notes payable 462 610 +148 Financing Common stock 27 27 NE Financing Retained earnings 530 693 +163 Operating Total 1046 1414

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