Indicate if the change will be placed in the operating, investing or financing section of the statement of cashflows and will the change be presented as an inflow or outflowThe comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows:Dec. 31, 20Y9Dec. 31, 20Y8ChangeOps/ Inv/FinInflow/OutflowAssetsCash$70,720$47,940Accounts receivable (net)207,230188,190Inventories298,520289,850Investments102,000Land295,800Equipment438,600358,020Accumulated depreciation-equip(99,110)(84,320)Total assets$1,211,760$901,680Liabilities and Stockholders'EquityAccounts payable$205,700$194,140Accrued expenses payable30,60026,860Dividends payable25,50020,400Common stock, $1 par202,000102,000Paid-in capital in excess of par-cs354,000204,000Retained earnings393,960354,280Total liabilities and stockholders'$1,211,760$901,680equityAdditional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows:a. Equipment and land were acquired for cash.b. There were no disposals of equipment during the year.c. The investments were sold for $91,800 cash.d. The common stock was issued for cash.e. There was a $141,680 credit to Retained Earnings for net income.f. There was a $102,000 debit to Retained Earnings for cash dividends declared.

Name: Indicate if the change will be placed in the operating, investing or
Uploaded: 2024-03-05T11:47:04.000Z
Channel: Bartleby
Description: Indicate if the change will be placed in the operating, investing or financing section of the statement of cashflows and will the change be presented as an inflow or outflowThe comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9

Cash flow statement refers to those type of financial statements which reflects the movement of cash…

Business

Accounting

Indicate if the change will be placed in the operating, investing or financing section of the statement of cash flows and will the change be presented as an inflow or outflow The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Change Ops/ Inv/Fin Inflow/Outflo Assets Cash $70,720 $47,940 Accounts receivable (net) 207,230 188,190 Inventories 298,520 289,850 Investments 102,000 Land 295,800 Equipment 438,600 358,020 Accumulated depreciation-equip (99,110) (84,320) Total assets $1,211,760 $901,680

Indicate if the change will be placed in the operating, investing or financing section of the statement of cash flows and will the change be presented as an inflow or outflow The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Change Ops/ Inv/Fin Inflow/Outflo Assets Cash $70,720 $47,940 Accounts receivable (net) 207,230 188,190 Inventories 298,520 289,850 Investments 102,000 Land 295,800 Equipment 438,600 358,020 Accumulated depreciation-equip (99,110) (84,320) Total assets $1,211,760 $901,680

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Statement of Cash Flows—Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Cash $283,380 $266,640 Accounts receivable (net) 102,660 95,770 Inventories 289,780 283,550 Investments 0 109,850 Land 148,640 0 Equipment 319,740 250,680 Accumulated depreciation—equipment (74,850) (67,600) Total assets $1,069,350 $938,890 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $193,550 $184,960 Accrued expenses payable (operating expenses) 19,250 24,410 Dividends payable 10,690 8,450 Common stock, $10 par 57,740 46,010 Paid-in capital in excess of par—common stock 217,080 127,690 Retained earnings 571,040 547,370 Total liabilities and stockholders’ equity $1,069,350 $938,890 Additional data obtained from an examination of the accounts in the ledger for…
Statement of Cash Flows—Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Cash $303,530 $282,030 Accounts receivable (net) 109,960 101,290 Inventories 310,400 299,900 Investments 0 116,190 Land 159,210 0 Equipment 342,470 265,140 Accumulated depreciation—equipment (80,180) (71,500) Total assets $1,145,390 $993,050 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $207,320 $195,630 Accrued expenses payable (operating expenses) 20,620 25,820 Dividends payable 11,450 8,940 Common stock, $10 par 61,850 48,660 Paid-in capital in excess of par—common stock 232,510 135,050 Retained earnings 611,640 578,950 Total liabilities and stockholders’ equity $1,145,390 $993,050 Additional data obtained from an examination of the accounts in the ledger for…
Problem 4: Following are the comparative statements of financial position of CPA Company to add in preparing a statement of cash flows: ● CPA Company Statement of Financial Position December 31, 2021 and 2020 Assets Cash and cash equivalents Financial assets at FVPL Accounts receivable Inventory Long-term investments Property, plant and equipment Less: accumulated depreciation Patents Less: accumulated amortization Total assets Liabilities and Equity Accounts payable Income tax payable 12% bonds payable Less: discount on bonds payable Ordinary share capital Retained earnings The following events took place in 2021: 2021 P900,000 2020 P620,000 300,000 400,000 1,956,500 1,445,000 3,050,000 3,200,000 1,000,000 1,250,000 9,000,000 8,000,000 (2,200,000) (2,000,000) 600,000 600,000 (100,000) P14,606,500 P13,415,000 P2,200,000 P1,900,000 34,500 45,000 4,000,000 4,000,000 (250,000) (300,000) 7,500,000 6,500,000 1,122,000 1,270,000 P14,606,500 P13,415,000 CPA Company declared and paid cash…
Mohammed Corporation's comparative balance sheet for current assets and liabilities was as follows: Line Item Description Dec. 31, 20Y2 Dec. 31, 20Y1 Accounts receivable $16,200 $15,400 Inventory 70,200 70,900 Accounts payable 22,600 21,300 Dividends payable 20,000 22,000 Adjust net income of $100, 400 for changes in operating assets and liabilities to arrive at net cash flows from operating activities. fill in the blank 1 of 1$
Statement of Cash Flows The comparative balance sheet of Hirayama Industries Inc. for December 31, 20Y2 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $234 $18 Accounts receivable (net) 70 63 Inventories 150 127 Land 320 422 Equipment 262 224 Accumulated depreciation—equipment (87) (54) Total assets $949 $800 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $65 $47 Dividends payable 6 - Common stock, $1 par 160 102 Excess of paid-in capital over par 109 90 Retained earnings 609 561 Total liabilities and stockholders' equity $949 $800 The following additional information is taken from the records: Land was sold for $153. Equipment was acquired for cash. There were no disposals of equipment during the year. The common stock was issued for cash. There was a $79 credit to Retained Earnings for net income. There was a $31 debit to Retained…
Statement of Cash Flows—Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Cash $271,620 $255,000 Accounts receivable (net) 98,400 91,580 Inventories 277,770 271,170 Investments 0 105,050 Land 142,470 0 Equipment 306,470 239,730 Accumulated depreciation—equipment (71,750) (64,650) Total assets $1,024,980 $897,880 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $185,520 $176,880 Accrued expenses payable (operating expenses) 18,450 23,340 Dividends payable 10,250 8,080 Common stock, $10 par 55,350 44,000 Paid-in capital in excess of par—common stock 208,070 122,110 Retained earnings 547,340 523,470 Total liabilities and stockholders’ equity $1,024,980 $897,880 Additional data obtained from an examination of the accounts in the ledger for 20Y9…
Instructions: Prepare a statement of cash flows for the year ended December 31, Problem 2 SATT KEXLER COMPANY efhiogitarorT 13,000 Comparative Balance Sheet 18,000 iosgu14,000ot 9,000 ba Dec. 2021 fon ai Dec. 2020 armald Assets etnlog-30 $28,000 Cash Accounts receivable Prepaid expenses Inventory Long-term investments Equipment Accumulated depreciation-equipment Total assets tye 25,000ntne 15,000 rot Inova oreahtnolen0-t 18,000 ol 30,000 (14,000) baimenydr no 7:000 60,000 (18,000) $85,000 50S ynune120,000 Liabilities and Stockholders' Equity $ 25,000 37,000 40,000 18,000 $120,000 1. Net income for the year ending December 31, 2021, was $25.000. 2. Cash dividends of $17,000 were declared and paid during the year. Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 7,000 45,000 23,000 10,000 o lsu $85,000 Additional information: Long-term investments that had a book value of $18,000 were sold for $18.000. 4. There is no sale of…
Statement of Cash Flow Preparation Activity Consider the following journal entries: Entry (a) cash $4 %$4 81,000.00 common stock 81,000.00 (b) treasury stock 13,000.00 cash 13,000.00 (c) cash 60,000.00 sales revenue 60,000.00 (d) land 87,700.00 cash 87,700.00 (e) depreciation expense 9,000.00 accumulated depreciation 9,000.00 (f) dividends payable 16,500.00 cash 16,500.00 (g) land 18,000.00 cash 18,000.00 (h) cash 7,200.00 7,200.00 equipment (1) bonds payable cash 45,000.00 45,000.00 (1) building 164,000.00 164,000.00 note payable, long-term (k) loss on disposal of equipment | 1,400.00 equipment, net 1,400.00 Indicate whether each transaction would result in an operating activity, an investing activity, or a financing activity for an indirect method statement of cash flow and the accompanying schedule of non-cash investing and financing activities. Click here to enter text. %24
Please do not give image format
How would you prepare a statement of Cash Flows using the following information? Maple Group Ltd Comparative Balance Sheet December 31, 2020 and 2019 2020 2019 Increase/Decrease Assets Cash and cash Equivalent $ 51,500.00 $ 45,400.00 $ 6,100.00 Accounts Receivable $ 51,100.00 $ 61,400.00 $ 10,000.00 Inventories $ 61,400.00 $ 51,900.00 $ 9,500.00 Fixed Assets, net $ 160,000.00 $ 110,000.00 $ 50,000.00 Total Assets $ 324,000.00 $ 268,700.00 $ 55,600.00 Liabilities Accounts Payable $ 35,450.00 $ 27,800.00 $ 7,650.00 Accrued liabilities $ 31,000.00 $ 37,550.00 -$ 6,550.00 Long-term notes payable $ 60,000.00 $ 78,540.00 -$ 18,540.00 Stockholders Equity: Common Stock $ 143,050.00 $ 105,110.00 $ 37,940.00 Retained Earnings $ 54,800.00 $ 19,700.00 $…
Statement of Cash Flows The comparative balance sheet of Orange Angel Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows: Dec. 31, Dec. 31, 20Y8 20Y7 Cash Accounts receivable (net) Merchandise inventory Assets Prepaid expenses Equipment Accumulated depreciation-equipment Total assets Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Mortgage note payable Common stock, $1 par Excess of paid-in capital over par Retained earnings Total liabilities and stockholders' equity $53,650 $66,100 82,440 89,100 117,780 110,440 4,800 3,350 239,920 197,870 (62,380) (48,530) $436,210 $418,330 $91,600 0 14,000 203,000 127,610 $436,210 $87,430 125,500 9,000 118,000 78,400 $418,330 Additional data obtained from the income statement and from an examination of the accounts in the ledger for 20Y8 are as follows: a. Net income, $125,980. b. Depreciation reported on the income statement, $30,270. c. Equipment was purchased at a cost of $58,470, and fully depreciated…
On December 31, 2021, using Indirect Method of Presenting the Cash flows from Operations, total adjustments from the net income due to non-operating items amounted to?