Please do not give solution in image format thanku Exercise 16-21B (Algo) Direct: Preparing statement of cash flows and supporting note LO PSCash and cash equivalents, December 31 prior year-endCash and cash equivalents, December 31 current year-endCash received as interestCash paid for salariesBonds payable retired by issuing common stock (no gain or loss on retirement)Cash paid to retire long-term notes payableCash received from sale of equipmentLand purchased by issuing long-term notes payableCash paid for store equipmentCash dividends paidCash paid for other expensesCash received from customersCash paid for inventoryFERRON COMPANYStatement of Cash FlowsFor Year Ended December 31Cash flows from operating activitiesCash flows from investing activitiesS0Use the above information about Ferron Company to prepare a complete statement of cash flows (direct method) for the current yearended December 31. Use a note disclosure for any noncash investing and financing activities. (Amounts to be deducted should beindicated with a minus sign.)< Prev4$10,00028,1201,0008 of 929,000115,00050,00024,50066,7009,5006,00016,000194,000100,880Next > FERRON COMPANYStatement of Cash FlowsFor Year Ended December 31Cash flows from operating activitiesCash flows from investing activitiesCash flows from financing activitiesNet increase (decrease) in cash and cash equivalentsCash and cash equivalents at prior year-endCash and cash equivalents at current year-endNoncash investing and financing activities$$00

The cash flow statement is the one of the financial statement of the business. The various…

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 a minus sign

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 a minus sign

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter23: Statement Of Cash Flows

Section: Chapter Questions

Problem 10SPA

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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…
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3 ook rences 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 FERRON COMPANY Statement of Cash Flows For Year Ended December 31 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. Cash flows from operating activities $…
Cash received from long-term notes payable Purchase of investments Cash dividends paid. Interest paid Financing Activities Compute cash flows from financing activities using the above company information. (Amounts to be deducted should be indicated by a minus sign.) Cash received from long-term notes payable Cash dividends paid Cash provided by financing activities $ 66,000 16,500 $ 52,800 26,400 66,000 (52,800) 13,200
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
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
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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Exercise 7-16: From the following list, identify whether the change in the account balance during the year would be added to or deducted from net income when the indirect method is used to determine cash flows from operating activities: Increase in accounts receivable Decrease in accounts receivable Increase in notes receivable Decrease in notes receivable
Problem 10-2 (IAA) Star Company provided the following data for the preparation of statement of cash flows for the current year: Cash balance, beginning Cash paid to purchase inventory Cash received from sale of trading securities Cash paid for interest on bank loan Cash paid to repay principal amount of bank loan Cash collected from customers Cash received from issuance of ordinary shares Cash paid for dividend Cash paid for income taxes Cash paid to purchase trading securities 1,500,000 7,800,000 2,500,000 450,000 1,000,000 10,000,000 1,200,000 2,000,000 1,350,000 1,000,000 1. What is the net cash provided by operating activities? a. 1,900,000 b. 2,900,000 c. 2,350,000 d. 400,000 2. What is the net cash used in financing activites? a. 3,000,000 b. 2,000,000 c. 1,800,000 d. 4,200,000 3. What is the cash balance at year-end? a. 3,400,000 b. 1,600,000 c. 1,400,000 d. 2,400,000
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QUESTION 12 When using the indirect method to determine operating cash flows, how would the retirement of bonds payable at their maturity date be shown on the statement of cash flows? a. an investing activity b. not reported on the statement of cash flows c. a noncash investing and financing activity d. an operating activity e. a financing activity