E13.15 Prepare a worksheet Comparative balance sheets for International Company are presented as follows. International Company Comparative Balance Sheets December 31 2022 2021 Assets Cash $ 2$ 73,000 85,000 180,000 75,000 250,000 (66,000) 2$ 22,000 76,000 189,000 100,000 200,000 Accounts receivable Inventory Land Equipment Accumulated depreciation - Equipment Total (42,000) 597,000 2$ 545,000 Liabilities and Stockholders' Equity Accounts payable Bonds Payable Common stock ($1 par) Retained earnings Total 2$ 34,000 150,000 214,000 199,000 $ 2$ 47,000 200,000 164,000 134,000 $ 597,000 545,000 Additional information: 1. Net income for 2022 was $135,000 2. Cash dividends of $70,000 was declared and paid. 3. Bonds payable amounting to $50,000 were redeemed for cash $50,000. 4. Common stock was issued for $50,000 cash 5. Depreciation expense was $24,000. 6. Sales revenue for the year was $978,000. 7. Land was sold at cost, and equipment was purchased for cash. Instructions Prepare a worksheet for a statement of cash flows for 2022 using the indirect method. Enter the reconciling items directly on the worksheet, using letters to cross-reference each entry. NOTE: Enter a formula, a cell reference, or a value (if you are unable to reference a cell), into the yellow shaded input cells.
E13.15 Prepare a worksheet Comparative balance sheets for International Company are presented as follows. International Company Comparative Balance Sheets December 31 2022 2021 Assets Cash $ 2$ 73,000 85,000 180,000 75,000 250,000 (66,000) 2$ 22,000 76,000 189,000 100,000 200,000 Accounts receivable Inventory Land Equipment Accumulated depreciation - Equipment Total (42,000) 597,000 2$ 545,000 Liabilities and Stockholders' Equity Accounts payable Bonds Payable Common stock ($1 par) Retained earnings Total 2$ 34,000 150,000 214,000 199,000 $ 2$ 47,000 200,000 164,000 134,000 $ 597,000 545,000 Additional information: 1. Net income for 2022 was $135,000 2. Cash dividends of $70,000 was declared and paid. 3. Bonds payable amounting to $50,000 were redeemed for cash $50,000. 4. Common stock was issued for $50,000 cash 5. Depreciation expense was $24,000. 6. Sales revenue for the year was $978,000. 7. Land was sold at cost, and equipment was purchased for cash. Instructions Prepare a worksheet for a statement of cash flows for 2022 using the indirect method. Enter the reconciling items directly on the worksheet, using letters to cross-reference each entry. NOTE: Enter a formula, a cell reference, or a value (if you are unable to reference a cell), into the yellow shaded input cells.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![E13.15 Prepare a worksheet
Comparative balance sheets for International Company are presented as follows.
International Company
Comparative Balance Sheets
December 31
2022
2021
Assets
73,000
85,000
180,000
75,000
250,000
(66,000)
2$
Cash
$
$
22,000
76,000
Accounts receivable
Inventory
Land
189,000
100,000
Equipment
Accumulated depreciation - Equipment
200,000
(42,000)
$
545,000
Total
597,000
Liabilities and Stockholders' Equity
Accounts payable
Bonds Payable
Common stock ($1 par)
Retained earnings
$
2$
34,000
150,000
214,000
199,000
$
47,000
200,000
164,000
134,000
Total
597,000
$
545,000
Additional information:
1. Net income for 2022 was $135,000
2. Cash dividends of $70,000 was declared and paid.
3. Bonds payable amounting to $50,000 were redeemed for cash $50,000.
4. Common stock was issued for $50,000 cash
5. Depreciation expense was $24,000.
6. Sales revenue for the year was $978,000.
7. Land was sold at cost, and equipment was purchased for cash.
Instructions
Prepare a worksheet for a statement of cash flows for 2022 using the indirect method. Enter the reconciling items directly
on the worksheet, using letters to cross-reference each entry.
NOTE: Enter a formula, a cell reference, or a value (if you are unable to reference a cell), into the yellow shaded
input cells.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7f1cf787-d181-4611-9f83-a587357d56a8%2Fafe8de03-6453-419b-844c-fcbba1916af7%2Fwgdnve_processed.png&w=3840&q=75)
Transcribed Image Text:E13.15 Prepare a worksheet
Comparative balance sheets for International Company are presented as follows.
International Company
Comparative Balance Sheets
December 31
2022
2021
Assets
73,000
85,000
180,000
75,000
250,000
(66,000)
2$
Cash
$
$
22,000
76,000
Accounts receivable
Inventory
Land
189,000
100,000
Equipment
Accumulated depreciation - Equipment
200,000
(42,000)
$
545,000
Total
597,000
Liabilities and Stockholders' Equity
Accounts payable
Bonds Payable
Common stock ($1 par)
Retained earnings
$
2$
34,000
150,000
214,000
199,000
$
47,000
200,000
164,000
134,000
Total
597,000
$
545,000
Additional information:
1. Net income for 2022 was $135,000
2. Cash dividends of $70,000 was declared and paid.
3. Bonds payable amounting to $50,000 were redeemed for cash $50,000.
4. Common stock was issued for $50,000 cash
5. Depreciation expense was $24,000.
6. Sales revenue for the year was $978,000.
7. Land was sold at cost, and equipment was purchased for cash.
Instructions
Prepare a worksheet for a statement of cash flows for 2022 using the indirect method. Enter the reconciling items directly
on the worksheet, using letters to cross-reference each entry.
NOTE: Enter a formula, a cell reference, or a value (if you are unable to reference a cell), into the yellow shaded
input cells.
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