D. cise 12 Mollowing information is available for Umbrella Corporation for the year ended December 31, 2021: Collection of principal on long tem loan to a supplier Acquisition of equipment for cash Proceeds from the redemption of long term investment at carrying value Issue of common shares for cash Depreciation expense Redemption of bonds payable at amortized cost Payment of cash dividends 40,000 15,000 27,000 25,000 25,000 24,000 14,000 Profit 30,000 Purchase of land by issuing bonds payable 40,000 ddition, the following information is available from the comparative balance sheet for Umbrella at the end of 2020 and 2021: 2,020 2021 102,000 Cash Accounts receivable (net) Prepaid insurance Total curent assets 14,000 15,000 13.000 42000 20,000 A7.000 139.000 Accounts payable Salaries payable Total current fiabilities 25,000 4,000 29.000 19,000 7000 26.000 tructions pare Umbrella's cash flow statement for the year ended December 31, 2021, using the indirect method. ution 12 22-27 min)
D. cise 12 Mollowing information is available for Umbrella Corporation for the year ended December 31, 2021: Collection of principal on long tem loan to a supplier Acquisition of equipment for cash Proceeds from the redemption of long term investment at carrying value Issue of common shares for cash Depreciation expense Redemption of bonds payable at amortized cost Payment of cash dividends 40,000 15,000 27,000 25,000 25,000 24,000 14,000 Profit 30,000 Purchase of land by issuing bonds payable 40,000 ddition, the following information is available from the comparative balance sheet for Umbrella at the end of 2020 and 2021: 2,020 2021 102,000 Cash Accounts receivable (net) Prepaid insurance Total curent assets 14,000 15,000 13.000 42000 20,000 A7.000 139.000 Accounts payable Salaries payable Total current fiabilities 25,000 4,000 29.000 19,000 7000 26.000 tructions pare Umbrella's cash flow statement for the year ended December 31, 2021, using the indirect method. ution 12 22-27 min)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Please answer complete
![D.
H.
Exercise 12
The following information is available for Umbrella Corporation for the year ended December 31, 2021:
Collection of principal on long term loan to a supplier
Acquisition of equipment for cash
Proceeds from the redemption of long term investment at carrying value
Issue of common shares for cash
Depreciation expense
Redemption of bonds payable at amortized cost
Payment of cash dividends
Profit
40,000
15,000
27,000
25,000
25,000
24,000
14,000
30,000
Purchase of land by issuing bonds payable
40,000
In addition, the following information is available from the comparative balance sheet for Umbrella at the end of 2020 and 2021:
2,021
102,000
20,000
17.000
139.000
2,020
Cash
Accounts receivable (net)
Prepaid insurance
Total current assets
14,000
15,000
13.000
42.000
Accounts payable
Salaries payable
Total current fiabilities
25,000
4,000
29,000
19,000
7000
26.000
Instructions
Prepare Umbrella's cash flow statement for the year ended December 31, 2021, using the indirect method.
Solution 12 22-27 min.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe072f680-4c73-4386-b4db-def118fea4a2%2F3765560a-561c-4b58-94f5-7551b4dc1f13%2F3x02dfc_processed.jpeg&w=3840&q=75)
Transcribed Image Text:D.
H.
Exercise 12
The following information is available for Umbrella Corporation for the year ended December 31, 2021:
Collection of principal on long term loan to a supplier
Acquisition of equipment for cash
Proceeds from the redemption of long term investment at carrying value
Issue of common shares for cash
Depreciation expense
Redemption of bonds payable at amortized cost
Payment of cash dividends
Profit
40,000
15,000
27,000
25,000
25,000
24,000
14,000
30,000
Purchase of land by issuing bonds payable
40,000
In addition, the following information is available from the comparative balance sheet for Umbrella at the end of 2020 and 2021:
2,021
102,000
20,000
17.000
139.000
2,020
Cash
Accounts receivable (net)
Prepaid insurance
Total current assets
14,000
15,000
13.000
42.000
Accounts payable
Salaries payable
Total current fiabilities
25,000
4,000
29,000
19,000
7000
26.000
Instructions
Prepare Umbrella's cash flow statement for the year ended December 31, 2021, using the indirect method.
Solution 12 22-27 min.)
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