Oriole Corporation Comparative Balance Sheets December 31 2027 2026 Cash $15,300 $11,300 Accounts receivable 21,000 23,500 Land 21,500 27,600 Buildings 71,000 71,000 Accumulated depreciation-buildings (16,000) (10,200) Total $112,800 $123,200 Accounts payable $12,500 $31,400 Common stock 75,000 70,000 Retained earnings 25,300 21,800 Total $112,800 $123,200 Additional information: 1. Net income was $22,700. Dividends declared and paid were $19,200. 2 No noncash investing and financing activities occurred during 2027. 3. The land was sold for cash of $4,200. (a) Prepare a statement of cash flows for 2027 using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis eg. (15,000)) ORIOLE CORPORATION Statement of Cash Flows - Indirect Method Cash Flows from Operating Activities Net Income For the Year Ended December 31, 2027 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Net Cash Provided by Operating Activities Cash Flows from Investing Activities Net Cash Used by Investing Activities Cash Flows from Financing Activities Net Cash Used by Financing Activities $

Oriole Corporation Comparative Balance Sheets December 31 2027 2026 Cash $15,300 $11,300 Accounts receivable 21,000 23,500 Land 21,500 27,600 Buildings 71,000 71,000 Accumulated depreciation-buildings (16,000) (10,200) Total $112,800 $123,200 Accounts payable $12,500 $31,400 Common stock 75,000 70,000 Retained earnings 25,300 21,800 Total $112,800 $123,200 Additional information: 1. Net income was $22,700. Dividends declared and paid were $19,200. 2 No noncash investing and financing activities occurred during 2027. 3. The land was sold for cash of $4,200. (a) Prepare a statement of cash flows for 2027 using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis eg. (15,000)) ORIOLE CORPORATION Statement of Cash Flows - Indirect Method Cash Flows from Operating Activities Net Income For the Year Ended December 31, 2027 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Net Cash Provided by Operating Activities Cash Flows from Investing Activities Net Cash Used by Investing Activities Cash Flows from Financing Activities Net Cash Used by Financing Activities $

Financial Reporting, Financial Statement Analysis and Valuation

8th Edition

ISBN:9781285190907

Author:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Publisher:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Chapter8: Investing Activities

Section: Chapter Questions

Problem 1.3AIC: Estimate the average total estimated useful life of depreciable property, plant, and equipment....

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PROBLEM 1 BHEVERLYNN CORPORATIONSTATEMENTS OF FINANCIAL POSITIONAS AT MARCH 31,2021 AND 2020 (in peso)2021 2020 ASSETS Noncurrent AssetsProperty, Plant and equipment 1,125,000 742,000 Intangible assets 320,000 150,000 Financial asset at amortized cost 289,600 294,000 Investment in associate 144,000 120,000 Total noncurrent Assets 1,878,600 1,306,000 Current AssetsInventories 390,000 237,000 Prepaid expenses 23,000 15,000 Trade receivables 284,000 319,000 Financial assets at fair value through profit or loss (FVPL) 175,000 325,000 Temporary investments 148,000 46,000 Cash 54,000 102,000 Total current assets 1,074,000 1,044,000TOTAL ASSETS 2,952,600 2,350,000 EQUITY AND LIABILITIES Equity Share capital – P1 ordinary shares 550,000 400,000 Share premium 300,000 100,000 Revaluation surplus 130,000 60,000 Retained earnings 321,000 264,000 Retained earnings appropriated 250,000 100,000 Treasury shares (17,500) (25,000) Total equity 1,533,600 899,000 Noncurrent Liabilities Long-term loans…
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Estimate the average total estimated useful life of depreciable property, plant, and equipment. Starbucks reports 580.6 million of depreciation and amortization in the statement of cash flows, of which 4.5 million relates to amortization of limited-life intangible assets. Does the estimate reconcile with stated accounting policy on useful lives for property, plant, and equipment? Explain.
P10.5A Journalise a series of equipment transactions related to purchase, sale, retirement, and depreciation At December 31, 2021. Grand Regency Limited reported the following as Non-current tangible assets: 4,000,000 16,400,000 June 11 July 1 Dec. 31 Land Buildings Less: Accumulated depreciation - buildings Equipment Less: Accumulated depreciation - equipment Total plant assets During 2022, the following selected cash transactions occurred. April 1 Purchased land for R2,130,000. May 1 (b) (c) (d) 28,500,000 12,100,000 48,000,000 5,000,000 Required: (a) 43,000,000 £63,400,000 Sold equipment that cost R750,000 when purchased on January 1, 2018. The equipment was sold for R450,000. Sold land purchased on June 1, 2012 for R1,500,000. The land cost R400,000. Purchased equipment for R2,500,000. Retired equipment that cost R500,000 when purchased on December 31, 2012. No salvage value was received. Prepare general journal entries the above transactions. The company uses straight-line…
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The ending net book value of Property. Plant&Eiquipment (PPRE) in year l and year 2 re $00ad $430,000 respectively on Company A'sbalance sheet. The company's depreciationexpersein year Zis $90,000. Whatis Company A's net capital expenditure? O a $16000 Ob $9000 0. $340.00. 04 $20000