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Superior Exercise Equipment, Inc. reported the following financial statements for 2024: (Click the icon to view the income statement.) (Click the icon to view the comparative balance sheet.) i (Click the icon to view additional information.) Complete the statement one section at a time, beginning with the cash flows from operating activities. Superior Exercise Equipment, Inc. Statement of Cash Flows Year Ended December 31, 2024 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: Net Cash Provided by (Used for) Operating Activities Data table More info Superior calculated the following amounts for 2024: • Acquisition value of plant assets. $84,000. • Payment of dividends, $67,500. Prepare the company's statement of cash flows-indirect method for the year ended December 31, 2024. Assume investments are purchased with cash. (Use a minus sign or parentheses for amounts that result in a decrease in cash. If a box is not used in the statement, leave the box empty; do not select a label or enter a zero.) • Payment of long-term notes payable, $14,000. Cash receipt from issuance of common stock, $11,000. Print Superior Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was $42,300. No cash was received upon disposal. Print Done Done Data table Current Assets: Cash Accounts Receivable Merchandise Inventory -term Assets: Plant Assets Accumulated Depreciation Plant Assets hvestments I Assets - X ent Liabilities: Accounts Payable Salaries Payable -term Liabilities: lotes Payable I Liabilities Liabilities $ Common Stock, no par Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity $ $ Stockholders' Equity $ 20,000 $ 56,000 89,000 265,200 (40,200) 98,000 488,000 $ 81,000 $ 6,000 58,000 145,000 47,000 296,000 343,000 488,000 $ 18,000 45,000 93,000 223,500 (34,500) 72,000 417,000 75,000 6,500 72,000 153,500 36,000 227,500 263,500 417,000 - X

Superior Exercise Equipment, Inc. reported the following financial statements for 2024: (Click the icon to view the income statement.) (Click the icon to view the comparative balance sheet.) i (Click the icon to view additional information.) Complete the statement one section at a time, beginning with the cash flows from operating activities. Superior Exercise Equipment, Inc. Statement of Cash Flows Year Ended December 31, 2024 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: Net Cash Provided by (Used for) Operating Activities Data table More info Superior calculated the following amounts for 2024: • Acquisition value of plant assets. $84,000. • Payment of dividends, $67,500. Prepare the company's statement of cash flows-indirect method for the year ended December 31, 2024. Assume investments are purchased with cash. (Use a minus sign or parentheses for amounts that result in a decrease in cash. If a box is not used in the statement, leave the box empty; do not select a label or enter a zero.) • Payment of long-term notes payable, $14,000. Cash receipt from issuance of common stock, $11,000. Print Superior Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was $42,300. No cash was received upon disposal. Print Done Done Data table Current Assets: Cash Accounts Receivable Merchandise Inventory -term Assets: Plant Assets Accumulated Depreciation Plant Assets hvestments I Assets - X ent Liabilities: Accounts Payable Salaries Payable -term Liabilities: lotes Payable I Liabilities Liabilities $ Common Stock, no par Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity $ $ Stockholders' Equity $ 20,000 $ 56,000 89,000 265,200 (40,200) 98,000 488,000 $ 81,000 $ 6,000 58,000 145,000 47,000 296,000 343,000 488,000 $ 18,000 45,000 93,000 223,500 (34,500) 72,000 417,000 75,000 6,500 72,000 153,500 36,000 227,500 263,500 417,000 - X

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter15: Statement Of Cash Flows
Section: Chapter Questions
Problem 15E
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Superior Exercise Equipment, Inc. reported the following financial statements for 2024: (Click the icon to view the income statement.) (Click the icon to view the comparative balance sheet.) i (Click the icon to view additional information.) Complete the statement one section at a time, beginning with the cash flows from operating activities. Superior Exercise Equipment, Inc. Statement of Cash Flows Year Ended December 31, 2024 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: Net Cash Provided by (Used for) Operating Activities s example Get more help. Data table Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses: Net Income G Superior Exercise Equipment, Inc. Income Statement Year Ended December 31, 2024 Depreciation Expense Other Operating Expenses Total Operating Expenses Print Prepare the company's statement of cash flows-indirect method for the year ended December 31, 2024. Assume investments are purchased with cash. (Use a minus sign or parentheses for amounts that result in a decrease in cash. If a box is not used in statement, leave the box empty; do not select a label or enter a zero.) $ 48,000 185,000 Done $ $ 717,000 348,000 369,000 233,000 136,000 Data table Superior Exercise Equipment, Inc. Comparative Balance Sheet December 31, 2024 and 2023 Current Assets: Cash Accounts Receivable Merchandise Inventory Current Liabilities: Long-term Assets: Plant Assets Accumulated Depreciation-Plant Assets Investments Total Assets Assets Accounts Payable Salaries Payable Long-term Liabilities: Notes Payable Total Liabilities Liabilities $ $ Stockholders' Equity 2024 20,000 $ 56,000 89,000 265,200 (40,200) 98,000 488,000 $ 81,000 $ 6,000 58,000 145,000 2023 18,000 45,000 93,000 223,500 (34,500) 72,000 417,000 75,000 6,500 72,000 153,500 X
Transcribed Image Text:Superior Exercise Equipment, Inc. reported the following financial statements for 2024: (Click the icon to view the income statement.) (Click the icon to view the comparative balance sheet.) i (Click the icon to view additional information.) Complete the statement one section at a time, beginning with the cash flows from operating activities. Superior Exercise Equipment, Inc. Statement of Cash Flows Year Ended December 31, 2024 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: Net Cash Provided by (Used for) Operating Activities s example Get more help. Data table Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses: Net Income G Superior Exercise Equipment, Inc. Income Statement Year Ended December 31, 2024 Depreciation Expense Other Operating Expenses Total Operating Expenses Print Prepare the company's statement of cash flows-indirect method for the year ended December 31, 2024. Assume investments are purchased with cash. (Use a minus sign or parentheses for amounts that result in a decrease in cash. If a box is not used in statement, leave the box empty; do not select a label or enter a zero.) $ 48,000 185,000 Done $ $ 717,000 348,000 369,000 233,000 136,000 Data table Superior Exercise Equipment, Inc. Comparative Balance Sheet December 31, 2024 and 2023 Current Assets: Cash Accounts Receivable Merchandise Inventory Current Liabilities: Long-term Assets: Plant Assets Accumulated Depreciation-Plant Assets Investments Total Assets Assets Accounts Payable Salaries Payable Long-term Liabilities: Notes Payable Total Liabilities Liabilities $ $ Stockholders' Equity 2024 20,000 $ 56,000 89,000 265,200 (40,200) 98,000 488,000 $ 81,000 $ 6,000 58,000 145,000 2023 18,000 45,000 93,000 223,500 (34,500) 72,000 417,000 75,000 6,500 72,000 153,500 X
Superior Exercise Equipment, Inc. reported the following financial statements for 2024: (Click the icon to view the income statement.) (Click the icon to view the comparative balance sheet.) (Click the icon to view additional information.) Complete the statement one section at a time, beginning with the cash flows from operating activities. Superior Exercise Equipment, Inc. Statement of Cash Flows Year Ended December 31, 2024 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: Net Cash Provided by (Used for) Operating Activities s example Get more help. Data table More info Superior calculated the following amounts for 2024: • Acquisition value of plant assets, $84,000. • Payment of dividends, $67,500. Prepare the company's statement of cash flows-indirect method for the year ended December 31, 2024. Assume investments are purchased with cash. (Use a minus sign or parentheses for amounts that result in a decrease in cash. If a box is not used in the statement, leave the box empty; do not select a label or enter a zero.) • Payment of long-term notes payable, $14,000. • Cash receipt from issuance of common stock, $11,000. Superior Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was $42,300. No cash was received upon disposal. Print Print Done Done Data table Current Assets: Cash Accounts Receivable Merchandise Inventory X g-term Assets: Plant Assets Accumulated Depreciation-Plant Assets hvestments I Assets ent Liabilities: Accounts Payable Salaries Payable g-term Liabilities: lotes Payable I Liabilities Liabilities Common Stock, no par Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity Print $ $ Stockholders' Equity $ $ Done 20,000 $ 56,000 89,000 265,200 (40,200) 98,000 488,000 $ 81,000 $ 6,000 58,000 145,000 47,000 296,000 343,000 488,000 $ 18,000 45,000 93,000 223,500 (34,500) 72,000 417,000 75,000 6,500 72,000 153,500 36,000 227,500 263,500 417,000 X
Transcribed Image Text:Superior Exercise Equipment, Inc. reported the following financial statements for 2024: (Click the icon to view the income statement.) (Click the icon to view the comparative balance sheet.) (Click the icon to view additional information.) Complete the statement one section at a time, beginning with the cash flows from operating activities. Superior Exercise Equipment, Inc. Statement of Cash Flows Year Ended December 31, 2024 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: Net Cash Provided by (Used for) Operating Activities s example Get more help. Data table More info Superior calculated the following amounts for 2024: • Acquisition value of plant assets, $84,000. • Payment of dividends, $67,500. Prepare the company's statement of cash flows-indirect method for the year ended December 31, 2024. Assume investments are purchased with cash. (Use a minus sign or parentheses for amounts that result in a decrease in cash. If a box is not used in the statement, leave the box empty; do not select a label or enter a zero.) • Payment of long-term notes payable, $14,000. • Cash receipt from issuance of common stock, $11,000. Superior Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was $42,300. No cash was received upon disposal. Print Print Done Done Data table Current Assets: Cash Accounts Receivable Merchandise Inventory X g-term Assets: Plant Assets Accumulated Depreciation-Plant Assets hvestments I Assets ent Liabilities: Accounts Payable Salaries Payable g-term Liabilities: lotes Payable I Liabilities Liabilities Common Stock, no par Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity Print $ $ Stockholders' Equity $ $ Done 20,000 $ 56,000 89,000 265,200 (40,200) 98,000 488,000 $ 81,000 $ 6,000 58,000 145,000 47,000 296,000 343,000 488,000 $ 18,000 45,000 93,000 223,500 (34,500) 72,000 417,000 75,000 6,500 72,000 153,500 36,000 227,500 263,500 417,000 X
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