Alma Ortiz Prepared Carlee Instruments' Balance Sheet and Income Statement $\bullet$

question 154

Essay

Alma Ortiz prepared Carlee Instruments' balance sheet and income statement for 2016.Before she could complete the statement of cash flows,she had to leave town to attend to a family emergency.Because the full set of statements must be provided to the auditors today,Carlee's president,Mike Lymon,has asked you to prepare the statement of cash flows.Lymon has provided you with the balance sheet and income statement that Ortiz prepared,as well as some notes she made:

$\bullet$ Equipment with an original cost of $35,000 was sold for $20,300.The book value of the equipment was $19,400.
$\bullet$ On June 1,2016,the company purchased new equipment for cash at a cost of $18,500.
$\bullet$ At the end of the year the company issued notes payable for $10,500 cash.The note will mature on December 31,2019.
$\bullet$ The company paid $20,200 in cash dividends for the year.
Required:
Using the indirect method,prepare Carlee Instruments' statement of cash flows for 2016.

Identify pronoun errors in sentences.

Distinguish between subjective, objective, and possessive pronouns.

Understand pronoun-antecedent agreement.

Select the correct pronouns to complete sentences accurately.

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Definitions:

Organizational Politics

The activities undertaken within an organization to acquire, develop, and use power and other resources to obtain one’s preferred outcomes in a situation involving uncertainty or disagreement.

Ingratiation

A psychological technique where an individual attempts to become more likable to their target, often through flattery or other forms of manipulation.

Impression Management

The process by which individuals attempt to control the perceptions others have of them, through the manipulation of information in social interactions.

Organizational Politics

The process and behavior in human interactions involving power and authority, used to gain advantage within an organization.