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Chapter 16 Statement of Cash Flows Problems: Series A OBJ. 2 PR 16-1A Statement of cash flows-indirect method ash flow from g activities, The comparative balance sheet of Navaria Inc. for December 31, 20Y3 and 20Y2, is shown as follows: Dec. 31, 20Y3 Dec. 31, 20Y2 002802 Assets Cash ... $ 155,000 $ 150,000 xcel Accounts receivable (net) 450,000 400,000 Inventories 770,000 750,000 -> Investments 100,000 how le Land ...... 500,000 1,400,000 1,200,000 Equipment... Accumulated depreciation-equipment (600,000) (500,000) Total assets $2,675,000 $2,100,000 Liabilities and Stockholders' Equity $ 340,000 A$ 300,000 Accounts payable .... Accrued expenses payable .... Dividends payable.... Common stock, $4 par.... 45,000 50,000 30,000 25,000 700,000 600,000 Paid-in capital: Excess of issue price over par-common stock Retained earnings...... Total liabilities and stockholders' equity... 200,000 175,000 1,360,000 950,000 $2,675,000 $2,100,000 .... Additional data obtained from an examination of the accounts in the ledger for 20Y3 are as follows: a. The investments were sold for $175,000 cash. b. Equipment and land were acquired for cash. boau wold 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 incomé. 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 OBJ. 2

Chapter 16 Statement of Cash Flows Problems: Series A OBJ. 2 PR 16-1A Statement of cash flows-indirect method ash flow from g activities, The comparative balance sheet of Navaria Inc. for December 31, 20Y3 and 20Y2, is shown as follows: Dec. 31, 20Y3 Dec. 31, 20Y2 002802 Assets Cash ... $ 155,000 $ 150,000 xcel Accounts receivable (net) 450,000 400,000 Inventories 770,000 750,000 -> Investments 100,000 how le Land ...... 500,000 1,400,000 1,200,000 Equipment... Accumulated depreciation-equipment (600,000) (500,000) Total assets $2,675,000 $2,100,000 Liabilities and Stockholders' Equity $ 340,000 A$ 300,000 Accounts payable .... Accrued expenses payable .... Dividends payable.... Common stock, $4 par.... 45,000 50,000 30,000 25,000 700,000 600,000 Paid-in capital: Excess of issue price over par-common stock Retained earnings...... Total liabilities and stockholders' equity... 200,000 175,000 1,360,000 950,000 $2,675,000 $2,100,000 .... Additional data obtained from an examination of the accounts in the ledger for 20Y3 are as follows: a. The investments were sold for $175,000 cash. b. Equipment and land were acquired for cash. boau wold 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 incomé. 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 OBJ. 2

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Chapter 16 Statement of Cash Flows Problems: Series A OBJ. 2 PR 16-1A Statement of cash flows-indirect method ash flow from g activities, The comparative balance sheet of Navaria Inc. for December 31, 20Y3 and 20Y2, is shown as follows: Dec. 31, 20Y3 Dec. 31, 20Y2 002802 Assets Cash ... $ 155,000 $ 150,000 xcel Accounts receivable (net) 450,000 400,000 Inventories 770,000 750,000 -> Investments 100,000 how le Land ...... 500,000 1,400,000 1,200,000 Equipment... Accumulated depreciation-equipment (600,000) (500,000) Total assets $2,675,000 $2,100,000 Liabilities and Stockholders' Equity $ 340,000 A$ 300,000 Accounts payable .... Accrued expenses payable .... Dividends payable.... Common stock, $4 par.... 45,000 50,000 30,000 25,000 700,000 600,000 Paid-in capital: Excess of issue price over par-common stock Retained earnings...... Total liabilities and stockholders' equity... 200,000 175,000 1,360,000 950,000 $2,675,000 $2,100,000 .... Additional data obtained from an examination of the accounts in the ledger for 20Y3 are as follows: a. The investments were sold for $175,000 cash. b. Equipment and land were acquired for cash. boau wold 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 incomé. 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 OBJ. 2
Transcribed Image Text:Chapter 16 Statement of Cash Flows Problems: Series A OBJ. 2 PR 16-1A Statement of cash flows-indirect method ash flow from g activities, The comparative balance sheet of Navaria Inc. for December 31, 20Y3 and 20Y2, is shown as follows: Dec. 31, 20Y3 Dec. 31, 20Y2 002802 Assets Cash ... $ 155,000 $ 150,000 xcel Accounts receivable (net) 450,000 400,000 Inventories 770,000 750,000 -> Investments 100,000 how le Land ...... 500,000 1,400,000 1,200,000 Equipment... Accumulated depreciation-equipment (600,000) (500,000) Total assets $2,675,000 $2,100,000 Liabilities and Stockholders' Equity $ 340,000 A$ 300,000 Accounts payable .... Accrued expenses payable .... Dividends payable.... Common stock, $4 par.... 45,000 50,000 30,000 25,000 700,000 600,000 Paid-in capital: Excess of issue price over par-common stock Retained earnings...... Total liabilities and stockholders' equity... 200,000 175,000 1,360,000 950,000 $2,675,000 $2,100,000 .... Additional data obtained from an examination of the accounts in the ledger for 20Y3 are as follows: a. The investments were sold for $175,000 cash. b. Equipment and land were acquired for cash. boau wold 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 incomé. 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 OBJ. 2
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