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Obj. 2, 3, 4 n The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20 -PR 13-2A Statement of cash flows-indirect method is as follows: Dec. 31, 20Y8 Dec. 31, 20Y7 Assets 95,000 $ 110,000 280,000 Cash 260,000 .... . Accounts receivable (net).... 520,000 450,000 Inventories ... 15,000 5,000 Prepaid expenses 1,130,000 800 00e Equipment..... Accumulated denreciatio

Obj. 2, 3, 4 n The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20 -PR 13-2A Statement of cash flows-indirect method is as follows: Dec. 31, 20Y8 Dec. 31, 20Y7 Assets 95,000 $ 110,000 280,000 Cash 260,000 .... . Accounts receivable (net).... 520,000 450,000 Inventories ... 15,000 5,000 Prepaid expenses 1,130,000 800 00e Equipment..... Accumulated denreciatio

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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ting cash flows from on ws, using The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, erating activities. Obj. 2,3, 4,5 PR 13-2A Statement of cash flows-indirect method V Net cash flow from operating activities, $350,000 is as follows: Dec. 31, 20Y8 Dec. 31, 20Y7 Assets 2$ 95,000 $ 110,000 280,000 Cash 260,000 Accounts receivable (net) 520,000 450,000 SHOW ME HOW EXCEL TEMPLATE Inventories 15,000 5,000 Prepaid expenses ... Equipment... Accumulated depreciation-equipment 1,130,000 800,000 (235,000) (190,000) $1,455,000 $1,785,000 Total assets . Liabilities and Stockholders' Equity $ 100,000 $ 75,000 Accounts payable (merchandise creditors) Mortgage note payable... Common stock, $10 par.... Paid-in capital in excess of par-common stock Retained earnings...... Total liabilities and stockholders' equity. 500,000 500,000 200,000 100,000 580,000 400,000 785,000 $1,785,000 $1,455,000
Transcribed Image Text:ting cash flows from on ws, using The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, erating activities. Obj. 2,3, 4,5 PR 13-2A Statement of cash flows-indirect method V Net cash flow from operating activities, $350,000 is as follows: Dec. 31, 20Y8 Dec. 31, 20Y7 Assets 2$ 95,000 $ 110,000 280,000 Cash 260,000 Accounts receivable (net) 520,000 450,000 SHOW ME HOW EXCEL TEMPLATE Inventories 15,000 5,000 Prepaid expenses ... Equipment... Accumulated depreciation-equipment 1,130,000 800,000 (235,000) (190,000) $1,455,000 $1,785,000 Total assets . Liabilities and Stockholders' Equity $ 100,000 $ 75,000 Accounts payable (merchandise creditors) Mortgage note payable... Common stock, $10 par.... Paid-in capital in excess of par-common stock Retained earnings...... Total liabilities and stockholders' equity. 500,000 500,000 200,000 100,000 580,000 400,000 785,000 $1,785,000 $1,455,000
Chapter 13 Statement of Cash Flows 671 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, $250,000. b. Depreciation reported on the income statement, $135,000. C. Equipment was purchased at a cost of $420,000 and fully depreciated equipment costing $90,000 was discarded, with no salvage realized. d. The mortgage note payable was not due for six years, but the terms permitted earlier payment without penalty. e. 30,000 shares of common stock were issued at $20 for cash. f. Cash dividends declared and paid, $45,000. Instructions Prepare a statement of cash flows, using the indirect method of presenting cash flows from op- erating activities.. PR 13-3A Statement of cash flows-indirect method The comparative balance sheet of Whitman Co. at December 31, 20Y2 and 20Y1, is as follows: Obj. 2, 3, 4, 5 flow ating 3,600) Dec. 31, 20Y2 Dec. 31, 20Y1 Assets $ 918,000 $ 964,800 Cash 761,940 828,900 1.268 460 1162.989
Transcribed Image Text:Chapter 13 Statement of Cash Flows 671 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, $250,000. b. Depreciation reported on the income statement, $135,000. C. Equipment was purchased at a cost of $420,000 and fully depreciated equipment costing $90,000 was discarded, with no salvage realized. d. The mortgage note payable was not due for six years, but the terms permitted earlier payment without penalty. e. 30,000 shares of common stock were issued at $20 for cash. f. Cash dividends declared and paid, $45,000. Instructions Prepare a statement of cash flows, using the indirect method of presenting cash flows from op- erating activities.. PR 13-3A Statement of cash flows-indirect method The comparative balance sheet of Whitman Co. at December 31, 20Y2 and 20Y1, is as follows: Obj. 2, 3, 4, 5 flow ating 3,600) Dec. 31, 20Y2 Dec. 31, 20Y1 Assets $ 918,000 $ 964,800 Cash 761,940 828,900 1.268 460 1162.989
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