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Exercise 16-21B (Algo) Direct: Preparing statement of cash flows and supporting note LO PS 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 $ 45,000 126,548 4,500 130,500 175,000 225,000 110,250 101,500 Cash flows from operating activities 42,750 27,000 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. 72,000 873,000 453,960 Check my we

Exercise 16-21B (Algo) Direct: Preparing statement of cash flows and supporting note LO PS 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 $ 45,000 126,548 4,500 130,500 175,000 225,000 110,250 101,500 Cash flows from operating activities 42,750 27,000 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. 72,000 873,000 453,960 Check my we

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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 FERRON COMPANY Statement of Cash Flows For Year Ended December 31 $ 45,000 126,540 4,500 130,500 175,000 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 225,000 110,250 101,500 42,750 27,000 72,000 873,000 453,960 Check my work
Transcribed Image Text: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 $ 45,000 126,540 4,500 130,500 175,000 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 225,000 110,250 101,500 42,750 27,000 72,000 873,000 453,960 Check my work
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