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808 Chapter 16 Statement of Cash Flows Problems: Series A OBJ. 2 PR 16-1A Statement of cash flows-indirect method V Net cash flow from operating activities, $490,000 The comparative balance sheet of Navaria Inc. for December 31, 20Y3 and 20Y2, is shown as follows: Dec. 31, 20Y2 Dec. 31, 20Y3 Assets $ 150,000 Cash .. $ 155,000 400,000 Excel Accounts receivable (net).. 450,000 750,000 Inventories... 770,000 100,000 Investments ... Show Me How Land ..... 500,000 1,200,000 Equipment..... Accumulated depreciation-equipment Total assets.. 1,400,000 (500,000) (600,000) $2,100,000 $2,675,000 008.08 Liabilities and Stockholders' Equity $ 300,000 Accounts payable .... Accrued expenses payable. $ 340,000 50,000 45,000 25,000 Dividends payable. ... Common stock, $4 par... 30,000 600,000 700,000 175,000 Paid-in capital: Excess of issue price over par-common stock...... Retained earnings..... Total liabilities and stockholders' equity... 200,000 to uns 950,000 1,360,000 $2,675,000 $2,100,000 Additional data obtained from an examination of the accounts in the ledger for 20Y5 are as follows: a. The investments were sold for $175,000 cash. b. Equipment and land were acquired for cash. c. There were no disposals of equipment during the year. d. The common stock was issued for cash. e. There was a $500,000 credit to Retained Earnings for net income. f. There was a $90,000 debit to Retained Earnings for cash dividends declared. Instructions Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. PR 16-2A Statement of cash flows-indirect method low from OBJ. 2 The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows: tivities, Snool s Dec. 31, 20Y8 Dec. 31, 20Y7 Assets Cash 2$ $ 80,000 Accounts receivable (net)..... Merchandise inventory.... Prepaid expenses..... Equipment..... $ 100,000 275,000 300,000 510,000 400,000 15,000 10,000 Accumulatod 1,070,000 750,000

808 Chapter 16 Statement of Cash Flows Problems: Series A OBJ. 2 PR 16-1A Statement of cash flows-indirect method V Net cash flow from operating activities, $490,000 The comparative balance sheet of Navaria Inc. for December 31, 20Y3 and 20Y2, is shown as follows: Dec. 31, 20Y2 Dec. 31, 20Y3 Assets $ 150,000 Cash .. $ 155,000 400,000 Excel Accounts receivable (net).. 450,000 750,000 Inventories... 770,000 100,000 Investments ... Show Me How Land ..... 500,000 1,200,000 Equipment..... Accumulated depreciation-equipment Total assets.. 1,400,000 (500,000) (600,000) $2,100,000 $2,675,000 008.08 Liabilities and Stockholders' Equity $ 300,000 Accounts payable .... Accrued expenses payable. $ 340,000 50,000 45,000 25,000 Dividends payable. ... Common stock, $4 par... 30,000 600,000 700,000 175,000 Paid-in capital: Excess of issue price over par-common stock...... Retained earnings..... Total liabilities and stockholders' equity... 200,000 to uns 950,000 1,360,000 $2,675,000 $2,100,000 Additional data obtained from an examination of the accounts in the ledger for 20Y5 are as follows: a. The investments were sold for $175,000 cash. b. Equipment and land were acquired for cash. c. There were no disposals of equipment during the year. d. The common stock was issued for cash. e. There was a $500,000 credit to Retained Earnings for net income. f. There was a $90,000 debit to Retained Earnings for cash dividends declared. Instructions Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. PR 16-2A Statement of cash flows-indirect method low from OBJ. 2 The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows: tivities, Snool s Dec. 31, 20Y8 Dec. 31, 20Y7 Assets Cash 2$ $ 80,000 Accounts receivable (net)..... Merchandise inventory.... Prepaid expenses..... Equipment..... $ 100,000 275,000 300,000 510,000 400,000 15,000 10,000 Accumulatod 1,070,000 750,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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PR16-1A

808 Chapter 16 Statement of Cash Flows Problems: Series A OBJ. 2 PR 16-1A Statement of cash flows-indirect method V Net cash flow from operating activities, $490,000 The comparative balance sheet of Navaria Inc. for December 31, 20Y3 and 20Y2, is shown as follows: Dec. 31, 20Y2 Dec. 31, 20Y3 Assets $ 150,000 Cash .. $ 155,000 400,000 Excel Accounts receivable (net).. 450,000 750,000 Inventories... 770,000 100,000 Investments ... Show Me How Land ..... 500,000 1,200,000 Equipment..... Accumulated depreciation-equipment Total assets.. 1,400,000 (500,000) (600,000) $2,100,000 $2,675,000 008.08 Liabilities and Stockholders' Equity $ 300,000 Accounts payable .... Accrued expenses payable. $ 340,000 50,000 45,000 25,000 Dividends payable. ... Common stock, $4 par... 30,000 600,000 700,000 175,000 Paid-in capital: Excess of issue price over par-common stock...... Retained earnings..... Total liabilities and stockholders' equity... 200,000 to uns 950,000 1,360,000 $2,675,000 $2,100,000 Additional data obtained from an examination of the accounts in the ledger for 20Y5 are as follows: a. The investments were sold for $175,000 cash. b. Equipment and land were acquired for cash. c. There were no disposals of equipment during the year. d. The common stock was issued for cash. e. There was a $500,000 credit to Retained Earnings for net income. f. There was a $90,000 debit to Retained Earnings for cash dividends declared. Instructions Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. PR 16-2A Statement of cash flows-indirect method low from OBJ. 2 The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows: tivities, Snool s Dec. 31, 20Y8 Dec. 31, 20Y7 Assets Cash 2$ $ 80,000 Accounts receivable (net)..... Merchandise inventory.... Prepaid expenses..... Equipment..... $ 100,000 275,000 300,000 510,000 400,000 15,000 10,000 Accumulatod 1,070,000 750,000
Transcribed Image Text:808 Chapter 16 Statement of Cash Flows Problems: Series A OBJ. 2 PR 16-1A Statement of cash flows-indirect method V Net cash flow from operating activities, $490,000 The comparative balance sheet of Navaria Inc. for December 31, 20Y3 and 20Y2, is shown as follows: Dec. 31, 20Y2 Dec. 31, 20Y3 Assets $ 150,000 Cash .. $ 155,000 400,000 Excel Accounts receivable (net).. 450,000 750,000 Inventories... 770,000 100,000 Investments ... Show Me How Land ..... 500,000 1,200,000 Equipment..... Accumulated depreciation-equipment Total assets.. 1,400,000 (500,000) (600,000) $2,100,000 $2,675,000 008.08 Liabilities and Stockholders' Equity $ 300,000 Accounts payable .... Accrued expenses payable. $ 340,000 50,000 45,000 25,000 Dividends payable. ... Common stock, $4 par... 30,000 600,000 700,000 175,000 Paid-in capital: Excess of issue price over par-common stock...... Retained earnings..... Total liabilities and stockholders' equity... 200,000 to uns 950,000 1,360,000 $2,675,000 $2,100,000 Additional data obtained from an examination of the accounts in the ledger for 20Y5 are as follows: a. The investments were sold for $175,000 cash. b. Equipment and land were acquired for cash. c. There were no disposals of equipment during the year. d. The common stock was issued for cash. e. There was a $500,000 credit to Retained Earnings for net income. f. There was a $90,000 debit to Retained Earnings for cash dividends declared. Instructions Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. PR 16-2A Statement of cash flows-indirect method low from OBJ. 2 The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows: tivities, Snool s Dec. 31, 20Y8 Dec. 31, 20Y7 Assets Cash 2$ $ 80,000 Accounts receivable (net)..... Merchandise inventory.... Prepaid expenses..... Equipment..... $ 100,000 275,000 300,000 510,000 400,000 15,000 10,000 Accumulatod 1,070,000 750,000
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