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Prepare a worksheet for a statement of cash flows for Hartman Corporation for 2010. Enter the reconciling items directly on the worksheet, using letters to cross-reference each entry. A comparative baiance sheet for Hartman Corporation is presented below: HARTMAN CORPORATION Comparative Balance Sheet 2010 2009 Assets Cash Accounts receivable (net) Prepaid insurance Land $ 46,000 70,000 25,000 18,000 70,000 (20.000) $209.000 $ 31,000 60,000 17,000 40,000 60,000 (13,000) $195.000 Equipment Accumulated depreciation Total Assets Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 11,000 27,000 140,000 31.000 $209.000 $ 6,000 19,000 115,000 55.000 $195.000 Additional information: 1. Net loss for 2010 is $10,000. 2. Cash dividends of $14,000 were declared and paid in 2010. 3. Land was sold for cash at a loss of $4,000. This was the only land transaction during the year. 4. Equipment with a cost of $15,000 and accumulated depreciation of $10,000 was sold for $5,000 cash. 5. $22,000 of bonds were retired during the year at carrying (book) value. 6. Equipment wwas acquired for common stock. The fair market value of the stock at the time of the exchange was $25,000.

Prepare a worksheet for a statement of cash flows for Hartman Corporation for 2010. Enter the reconciling items directly on the worksheet, using letters to cross-reference each entry. A comparative baiance sheet for Hartman Corporation is presented below: HARTMAN CORPORATION Comparative Balance Sheet 2010 2009 Assets Cash Accounts receivable (net) Prepaid insurance Land $ 46,000 70,000 25,000 18,000 70,000 (20.000) $209.000 $ 31,000 60,000 17,000 40,000 60,000 (13,000) $195.000 Equipment Accumulated depreciation Total Assets Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 11,000 27,000 140,000 31.000 $209.000 $ 6,000 19,000 115,000 55.000 $195.000 Additional information: 1. Net loss for 2010 is $10,000. 2. Cash dividends of $14,000 were declared and paid in 2010. 3. Land was sold for cash at a loss of $4,000. This was the only land transaction during the year. 4. Equipment with a cost of $15,000 and accumulated depreciation of $10,000 was sold for $5,000 cash. 5. $22,000 of bonds were retired during the year at carrying (book) value. 6. Equipment wwas acquired for common stock. The fair market value of the stock at the time of the exchange was $25,000.

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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Prepare a worksheet for a statement of cash flows for Hartman Corporation for 2010. Enter the reconciling items directly on the worksheet, using letters to cross-reference each entry. A comparative baiance sheet for Hartman Corporation is presented below: HARTMAN CORPORATION Comparative Balance Sheet 2010 2009 Assets Cash Accounts receivable (net) Prepaid insurance Land $ 46,000 70,000 25,000 18,000 70,000 (20.000) $209.000 $ 31,000 60,000 17,000 40,000 60,000 (13,000) $195.000 Equipment Accumulated depreciation Total Assets Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 11,000 27,000 140,000 31.000 $209.000 $ 6,000 19,000 115,000 55.000 $195.000 Additional information: 1. Net loss for 2010 is $10,000. 2. Cash dividends of $14,000 were declared and paid in 2010. 3. Land was sold for cash at a loss of $4,000. This was the only land transaction during the year. 4. Equipment with a cost of $15,000 and accumulated depreciation of $10,000 was sold for $5,000 cash. 5. $22,000 of bonds were retired during the year at carrying (book) value. 6. Equipment wwas acquired for common stock. The fair market value of the stock at the time of the exchange was $25,000.
Transcribed Image Text:Prepare a worksheet for a statement of cash flows for Hartman Corporation for 2010. Enter the reconciling items directly on the worksheet, using letters to cross-reference each entry. A comparative baiance sheet for Hartman Corporation is presented below: HARTMAN CORPORATION Comparative Balance Sheet 2010 2009 Assets Cash Accounts receivable (net) Prepaid insurance Land $ 46,000 70,000 25,000 18,000 70,000 (20.000) $209.000 $ 31,000 60,000 17,000 40,000 60,000 (13,000) $195.000 Equipment Accumulated depreciation Total Assets Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 11,000 27,000 140,000 31.000 $209.000 $ 6,000 19,000 115,000 55.000 $195.000 Additional information: 1. Net loss for 2010 is $10,000. 2. Cash dividends of $14,000 were declared and paid in 2010. 3. Land was sold for cash at a loss of $4,000. This was the only land transaction during the year. 4. Equipment with a cost of $15,000 and accumulated depreciation of $10,000 was sold for $5,000 cash. 5. $22,000 of bonds were retired during the year at carrying (book) value. 6. Equipment wwas acquired for common stock. The fair market value of the stock at the time of the exchange was $25,000.
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