Assets. Dec. 31, 20Y9. Dec.31, 20Y8 Cash $155,000 $150,000 Accounts Receivable $450,000 $400,000 Inventories $770,000 $750,000 Investments 0 $100,000 Land $500,000 0 Equipment $1,400,000 $1,200,000 Accumulated Depreciation Equipment ($600,000) ($500,000) Total Assets $2, 675,000 $ 2,100,000 Liabilities/Stockers Liability. Dec. 31, 20Y9 Dec.31, 20Y8 Accounts Payable $340,000 $300,000 Accrued Expense Payable $45,000 $50,000 Dividends Payable $30,000 $ 25,000 Common Stock $4 par $700,000 $ 600,000 Paid in Capital in excess of par-Common Stock $200,000 $175,000 Retained Earnings $ 1, 360,000 $ 950,000 Total Liabilities & Stockholders Equity $ 2, 675,000. $ 2, 100,000 Additional data obtained from an examination of the accounts in the ledger for 20Y7 are as follows: The investments were sold for $175,000 cash. Equipment and land were acquired for cash. The common stock was issued for cash. There was a $500,000 credit to retained earnings for net income. There was $90,000 debit to retained earnings for cash dividends declared. Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities
Assets. Dec. 31, 20Y9. Dec.31, 20Y8
|
Cash |
$155,000 |
$150,000 |
|
|
$450,000 |
$400,000 |
|
Inventories |
$770,000 |
$750,000 |
|
Investments |
0 |
$100,000 |
|
Land |
$500,000 |
0 |
|
Equipment |
$1,400,000 |
$1,200,000 |
|
|
($600,000) |
($500,000) |
|
Total Assets |
$2, 675,000 |
$ 2,100,000 |
Liabilities/Stockers
Liability. Dec. 31, 20Y9 Dec.31, 20Y8
|
Accounts Payable |
$340,000 |
$300,000 |
|
Accrued Expense Payable |
$45,000 |
$50,000 |
|
Dividends Payable |
$30,000 |
$ 25,000 |
|
Common Stock $4 par |
$700,000 |
$ 600,000 |
|
Paid in Capital in excess of par-Common Stock |
$200,000 |
$175,000 |
|
|
$ 1, 360,000 |
$ 950,000 |
|
Total Liabilities & |
$ 2, 675,000. |
$ 2, 100,000 |
Additional data obtained from an examination of the accounts in the ledger for 20Y7 are as follows:
- The investments were sold for $175,000 cash.
- Equipment and land were acquired for cash.
- The common stock was issued for cash.
- There was a $500,000 credit to retained earnings for net income.
- There was $90,000 debit to retained earnings for cash dividends declared.
Prepare a statement of
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