Based on the information provided below,complete the following worksheet to be used to prepare the statement of cash flows for the Gulp-it-Down Coffee Co. Additional Information:
(1. )Net income for the year amounted to $60,000,and cash dividends were declared and paid in the amount of $20,000.
(2. )Gulp-it-Down Coffee Co.'s only noncash expense was depreciation that totaled $100,000.
(3. )The company purchased plant assets for $140,000.
(4. )Notes payable in the amount of $60,000 were issued during the year.

Question

Based on the information provided below,complete the following worksheet to be used to prepare the statement of cash flows for the Gulp-it-Down Coffee Co.   Additional Information:
(1. )Net income for the year amounted to $60,000,and cash dividends were declared and paid in the amount of $20,000.
(2. )Gulp-it-Down Coffee Co.'s only noncash expense was depreciation that totaled $100,000.
(3. )The company purchased plant assets for $140,000.
(4. )Notes payable in the amount of $60,000 were issued during the year.

Quizplus · Accepted Answer

The Answer of Based on the information provided below,complete the following worksheet to be used to prepare the statement of cash flows for the Gulp-it-Down Coffee Co.   Additional Information:
(1. )Net income for the year amounted to $60,000,and cash dividends were declared and paid in the amount of $20,000.
(2. )Gulp-it-Down Coffee Co.'s only noncash expense was depreciation that totaled $100,000.
(3. )The company purchased plant assets for $140,000.
(4. )Notes payable in the amount of $60,000 were issued during the year.

Based on the Information Provided Below,complete the Following Worksheet to Be