$ 42,000 $ 33,000 Cash and cash equivalents. Accounts recelvable.... 84,000 77,000 Inventory. 95,700 131,000 Property, plant, and equipment.. Accumulated depreciation-property, plant, and equipment . Total assets.. Short-term notes payable. Accounts payable..... Long-term notes payable. Bonds payable.. Common stock, $1 par.. Additional paid-in capital.. Retained earnings.... Total liabilities and stockholders' equity. 560,000 500,000 (210,000) 5 531,000 $ 30,000 (231,500) S 550.200 81,000 69,000 110,000 90,000 60,000 120,000 35,000 35,000 165,000 165,000 99,200 22,000 S 550.200 $ 531,000
$ 42,000 $ 33,000 Cash and cash equivalents. Accounts recelvable.... 84,000 77,000 Inventory. 95,700 131,000 Property, plant, and equipment.. Accumulated depreciation-property, plant, and equipment . Total assets.. Short-term notes payable. Accounts payable..... Long-term notes payable. Bonds payable.. Common stock, $1 par.. Additional paid-in capital.. Retained earnings.... Total liabilities and stockholders' equity. 560,000 500,000 (210,000) 5 531,000 $ 30,000 (231,500) S 550.200 81,000 69,000 110,000 90,000 60,000 120,000 35,000 35,000 165,000 165,000 99,200 22,000 S 550.200 $ 531,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![W LT
ene
Acce
Tour
Comparative balance sheet data for Tanzanite
Imporium follow. In addition, new equipment was
purchased for $60,000 , payment consisting of $40,000
cash and a long-term note for $20,000. The short-term
note payable was arranged with a supplier to finance
inventory purchases on credit. Cash dividends of
$15,000 were paid in 2015; all other changes to
retained earnings were caused by the net income for
2015, which amounted to $92,200.
Dec. 31, 2015
Dec. 31, 2014
Cash and cash equivalents
$ 42,000
$ 33,000
Accounts recelvable.
84,000
77,000
Inventory ....
95,700
131,000
Property, plant, and equipment.
Accumulated depreciation-property, plant, and equipment
Total assets.
560,000
500,000
(231,500)
(210,000)
S 550.200
$ 531,000
$ 30,000
Short-term notes payable.
Accounts payable..
Long-term notes payable .
Bonds payable .
Common stock, $1 par.
Additional paid-in capital.
Retained earnings.
Total liabilities and stockholders' equity.
81,000
69,000
110,000
90,000
60,000
35,000
120,000
35,000
165,000
165,000
99,200
22,000
5 550,200
$ 531,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F73ba4b6d-c87b-446a-aef5-7e100af1b838%2F584b5dd2-f12f-4cb6-80db-a04a0e5afe5b%2F45to5zh_processed.jpeg&w=3840&q=75)
Transcribed Image Text:W LT
ene
Acce
Tour
Comparative balance sheet data for Tanzanite
Imporium follow. In addition, new equipment was
purchased for $60,000 , payment consisting of $40,000
cash and a long-term note for $20,000. The short-term
note payable was arranged with a supplier to finance
inventory purchases on credit. Cash dividends of
$15,000 were paid in 2015; all other changes to
retained earnings were caused by the net income for
2015, which amounted to $92,200.
Dec. 31, 2015
Dec. 31, 2014
Cash and cash equivalents
$ 42,000
$ 33,000
Accounts recelvable.
84,000
77,000
Inventory ....
95,700
131,000
Property, plant, and equipment.
Accumulated depreciation-property, plant, and equipment
Total assets.
560,000
500,000
(231,500)
(210,000)
S 550.200
$ 531,000
$ 30,000
Short-term notes payable.
Accounts payable..
Long-term notes payable .
Bonds payable .
Common stock, $1 par.
Additional paid-in capital.
Retained earnings.
Total liabilities and stockholders' equity.
81,000
69,000
110,000
90,000
60,000
35,000
120,000
35,000
165,000
165,000
99,200
22,000
5 550,200
$ 531,000
![TW LTE
се
11
ly puicnases on Creum
mounted to S02 200
Dec. 31, 2015
Dec. 31, 2014
$ 42,000
$ 33,000
Cash and cash equivalents.
Accounts recelvable.
84,000
77,000
Inventory
95,700
131,000
Property, plant, and equipment.
Accumulated depreciation-property, plant, and equipment
Total assets...
Short-term notes payable.
Accounts payable.
Long-term notes payable .
Bonds payable .
Common stock, $1 par
560,000
500.000
(231,500)
S 550.200
(210,000)
S 531,000
$ 30,000
81,000
69,000
110,000
90,000
60,000
120,000
35,000
35,000
Additional paid-n capital.
Retained earnings..
165,000
165,000
99200
22,000
Total liabilities and stockholders equity.
$ 550,200
$ 531,000
Instructions:
Prepare a statement of cash flows for the year
ended December 31, 2015, using the indirect
method.
NE](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F73ba4b6d-c87b-446a-aef5-7e100af1b838%2F584b5dd2-f12f-4cb6-80db-a04a0e5afe5b%2F536brsq_processed.jpeg&w=3840&q=75)
Transcribed Image Text:TW LTE
се
11
ly puicnases on Creum
mounted to S02 200
Dec. 31, 2015
Dec. 31, 2014
$ 42,000
$ 33,000
Cash and cash equivalents.
Accounts recelvable.
84,000
77,000
Inventory
95,700
131,000
Property, plant, and equipment.
Accumulated depreciation-property, plant, and equipment
Total assets...
Short-term notes payable.
Accounts payable.
Long-term notes payable .
Bonds payable .
Common stock, $1 par
560,000
500.000
(231,500)
S 550.200
(210,000)
S 531,000
$ 30,000
81,000
69,000
110,000
90,000
60,000
120,000
35,000
35,000
Additional paid-n capital.
Retained earnings..
165,000
165,000
99200
22,000
Total liabilities and stockholders equity.
$ 550,200
$ 531,000
Instructions:
Prepare a statement of cash flows for the year
ended December 31, 2015, using the indirect
method.
NE
Expert Solution
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Step 1 Introduction
The cash flow statement is prepared to record the cash flow from various activities during the period including operating activities, financing activities and investing activities.
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