es Exercise 16-21B (Algo) Direct: Preparing statement of cash flows and supporting note LO P5 Cash and cash equivalents, December 31 prior year-end Cash and cash equivalents, December 31 current year-end Cash received as interest Cash paid for salaries Bonds payable retired by issuing common stock (no gain or loss on retirement) Cash paid to retire long-term notes payable Cash received from sale of equipment Land purchased by issuing long-term notes payable Cash paid for store equipment Cash dividends paid. Cash paid for other expenses Cash received from customers Cash paid for inventory $ 41,000 74,292 4,100 118,900 140,000 205,000 100,450 81,200 38,950 24,600 65,600 795,400 413,608 Use the above information about Ferron Company to prepare a complete statement of cash flows (direct method) for the current year ended December 31. Use a note disclosure for any noncash investing and financing activities. Note: Amounts to be deducted should be indicated with a minus sign. FERRON COMPANY Statement of Cash Flows For Year Ended December 31

es Exercise 16-21B (Algo) Direct: Preparing statement of cash flows and supporting note LO P5 Cash and cash equivalents, December 31 prior year-end Cash and cash equivalents, December 31 current year-end Cash received as interest Cash paid for salaries Bonds payable retired by issuing common stock (no gain or loss on retirement) Cash paid to retire long-term notes payable Cash received from sale of equipment Land purchased by issuing long-term notes payable Cash paid for store equipment Cash dividends paid. Cash paid for other expenses Cash received from customers Cash paid for inventory $ 41,000 74,292 4,100 118,900 140,000 205,000 100,450 81,200 38,950 24,600 65,600 795,400 413,608 Use the above information about Ferron Company to prepare a complete statement of cash flows (direct method) for the current year ended December 31. Use a note disclosure for any noncash investing and financing activities. Note: Amounts to be deducted should be indicated with a minus sign. FERRON COMPANY Statement of Cash Flows For Year Ended December 31

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 27BE

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Refer to the information for Cornett Company above. What amount should Cornett report on its statement of cash flows as net cash flows provided by investing activities? a. $(5,200) b. $55,200 c. $144,800 d. None of these
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Exercise 16-21B (Algo) Direct: Preparing statement of cash flows and supporting note LO P5 Cash and cash equivalents, December 31 prior year-end Cash and cash equivalents, December 31 current year-end Cash received as interest Cash paid for salaries Bonds payable retired by Issuing common stock (no gain or loss on retirement) Cash paid to retire long-term notes payable Cash received from sale of equipment Land purchased by issuing long-term notes payable Cash paid for store equipment Cash dividends paid Cash paid for other expenses Cash received from customers Cash paid for inventory $ 10,000 28,120 1,000 29,000 115,000 50,000 24, 500 66, 700 9,500 6,000 16,000 194,000 100,880 Use the above information about Ferron Company to prepare a complete statement of cash flows (direct method) for the current year ended December 31. Use a note disclosure for any noncash investing and financing activities. (Amounts to be deducted should be indicated with o minus sign.) FERRON COMPANY Statement of…
Give the statement of cash flows
What is the cash impact from OWC during Year 2? If the change releases cash use a positive sign, if it consumes cash use a negative sign in the answer. Cash and cash equivalents Marketable securities Accounts receivable Deferred income taxes Income taxes receivable Other operating receivables Total current assets Accounts payable Income taxes payable Accrued expenses Current portion of long term debt Other non-operating current liabilities Total current liabilities Year 1 Year 2 20,344.5 18,310.1 42,866.9 38,580.2 9,669.5 10,636.5 1,642.8 1,626.4 439.2 461.2 3,502.0 4,307.5 78,464.9 73,921.9 2,640.8 2,904.8 3,239.3 3,563.3 2,693.5 3,232.2 4,042.4 4,446.7 1,861.3 2,326.7 14,477.3 16,473.7
Below is the ledger of XYZ Company Account Titles Accounts Receivable Accumulated depreciation - Buildings Accumulated depreciation - Furniture and Fixtures Accumulated depreciation - Manufacturing Equipments Allowance for Doubtful Accounts Bonds Payable Buildings Cash in Bank Cash on Hand Current portion of Long-term Notes Payable Finished goods Furnitures and Fixtures Income Taxes Payable Land Leasehold Improvements Long-term Notes Payable Manufacturing Equipments Money Market Fund Mortgage Payable Patents Amount 259,345.00 484,180.00 139,766.00 182.228.00 54,300.00 560,000.00 1,152,637.00 535,445.00 58,598.00 250,000.00 17,068.00 346,641.00 52,053.00 926,747.00 350,600.00 1,750,000.00 345,234.00 32,578.00 460,000.00 889,467.00
Classifying inflows and outflows of cash Classify each of the following items as an inflow (1) or an outflow (O) of cash, or neither (N). Item Change ($) + 1,680 Cash Balance Accounts payable +930 + 1,130 Notes payable Long-term debt Inventory Fixed assets (Select from the drop-down menu.) Item Cash Balance Change ($) - 310 - 1,200 + 1,570 + 1,000 + 130 + 500 Change ($) - 310 Item Accounts receivable Net profits Depreciation Repurchase of stock Cash dividends Sale of stock Classification (1/0) +940 + 900 + 900
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Novak Company at December 31 has cash $44,500, noncash assets $214,000, liabilities $120,000, and the following capital balances: Hoffman $91,000 and Mena $47,500. The firm is liquidated, and $230,000 in cash is received for the noncash assets. Hoffman and Mena income ratios are 60% and 40%, respectively. (If an amount reduces the account balance then enter with a negative sign preceding the number eg. -15,000 or parentheses eg. (15,000).) Prepare a schedule of cash payments. NOVAKCOMPANY Schedule of Cash Payments Item Cash Noncash Assets Liał Balances before liquidation 24 $4 24 Sale of noncash assets and allocation of losses New balances Pay liabilities
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Cash received from long-term notes payable Purchase of investments Cash dividends paid Interest paid Financing Activities $ 56,000 14, 200 Compute cash flows from financing activities using the above company information. Note: Amounts to be deducted should be indicated by a minus sign. $ 45,600 22,800 0
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