I need help in Accounting, Please provide quality and 100% correct answer Proble

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I need help in Accounting, Please provide quality and 100% correct answer

Problem 1-30 pts MoStateU Co. Given the following Income Statement and additional information complete the worksheet for the Statement of Cash Flows- Direct Method and then prepare the reconciliation of Net Income to Cash from Operating Activities. Round to nearest $1 Income Statement, FYE 12/31K2 Additonal Information 1,200 1. Purchased PP&E; for cash: (240 2. Sold PP&E; for cash (oost-$10,BV-$7) 960 38 Gross Proft Other Exp 3. Issued C/S at par for cash 4. Cash dividends of $105 were declared and paid 5. On 1MX2 leased a 5-year Asset with FMV of Int Exp-lease 60 14 Payment on 1n02. Interest rate 10% (12) DeprExp-Lease PP&E; Loss Net Income Worksheet for SCF-Direct Method, FYE 12/312 Credit2/31X2 803 12/310X1 Cash A/R (net) 112 (67) 100 Prop. Plant& Equip Accum Depr-PP&E; Leased Asset eLess(20) (12) (16) (31) (50) Accum Depr-Leasef Other Curr Liab Lease Liability C/S-$O Par Value Retained Eamings Totals Operating Activities: Cash from oustomers Cash paid suppliers Cash paid for Other Exp Lease interest acorual Depr Exp-PP&E; Depr Exp-Lease Loss on Sale of PP&E; Investing Activities: Cash paid for PP&E; Cash from sale of PP8E Financing Activities: Cash lease payment Cash from C/S Cash paid for Dividends Net Increase in Cash of Cash from OA to NL. Net Income Inar in AR Decr in Inventory Decr in AP Incr in Other CL Loss on PP&E; Int. Accrua-Lease Non-cash exp-LeaseDepr Non-cash exp-PP&Edepr; Net Cash IncrDècr) from OperAct

Explanation / Answer

CASH FLOW STATEMENT FOR FY ENDING 31/12/X2 (DIRECT METHOD)

in $

Cash Flow from Operating Activities

Cash Receipts from customers (30+1200-33 ) 1197

Cash Paid to suppliers (+240+96+20+25+48-16-31-50) (332)

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Cash Generated from operations 865 865

Cash Flow from investing activities

Purchase of Fixed Assets (22)

Sale of Equipment 4

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(18) (18)

Cash Flow from Financing activities

Issue of common stock 38

Dividend Paid (88)

Payment of Lease Amount (14)

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(64) (64)

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Net increase in cash 783

Opening balance of cash 20

Closing balance of cash 803

Worksheet for Payment to suppliers

Cost of goods sold 240

Other expenses 96  

336

Add: A/P opening balance 20

Other C/L (O/B) 25

Closing inventory 48

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93

Less: A/P Closing balance 16   

Other C/L (C/B) 31

Opening inventory 50

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(97}

Cash paid to suppliers 332

Cash flow from operating activities under indirect method

Net profit 795

Add: Depreciation {50 + 12) 62

Add: Loss on sale of eqpt 3

Less: Increase in A/R(30-33) (3}

Add Increase in A/R and other liab(20+25-16-31) 2

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