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Question 9 Comparative balance sheets of Belch Ltd for 2022 and 2021 are as follows. Belch Ltd Comparative Statement of Financial Position Dec. 31, 2022 Dec. 31, 2021 Assets Current assets Cash Accounts receivable Notes receivable Inventories Total current assets Noncurrent assets Land Machinery Accumulated depreciation Total noncurrent assets Total assets Liabilities and shareholders' equity Current liabilities Accounts payable Interest payable Total current liabilities Long-term debt Total liabilities Shareholders equity Common shares Retained earnings Total shareholders' equity Total liabilities and shareholders' equity $200,000 160,000 70,000 399,000 829,000 525,000 483,000 (143,000) 865,000 $1,694.000 $ 145,000 17,500 162,500 350,000 512,500 650,000 531,500 1,181,500 $1,694,000 $ 188,000 133,000 61,000 326,000 708,000 500,000 238,000 (97,500) 640,500 $1,348.500 $ 153,000 15,000 168,000 200,000 368,000 550,000 430,500 980,500 $1,348,500 Additional information: 1. Net income is $145,000 and includes depreciation expenses of $95,500. 2. Dividends declared and paid during the year were $44,000. 3 A machine costing $70,000 was sold at its book value (cost minus accumulated depreciation) of $20 000 4 No repayment of long term debt occurred in 2022 Required: Prepare a cash flow statement for the year ended December 31 2022.

Question 9 Comparative balance sheets of Belch Ltd for 2022 and 2021 are as follows. Belch Ltd Comparative Statement of Financial Position Dec. 31, 2022 Dec. 31, 2021 Assets Current assets Cash Accounts receivable Notes receivable Inventories Total current assets Noncurrent assets Land Machinery Accumulated depreciation Total noncurrent assets Total assets Liabilities and shareholders' equity Current liabilities Accounts payable Interest payable Total current liabilities Long-term debt Total liabilities Shareholders equity Common shares Retained earnings Total shareholders' equity Total liabilities and shareholders' equity $200,000 160,000 70,000 399,000 829,000 525,000 483,000 (143,000) 865,000 $1,694.000 $ 145,000 17,500 162,500 350,000 512,500 650,000 531,500 1,181,500 $1,694,000 $ 188,000 133,000 61,000 326,000 708,000 500,000 238,000 (97,500) 640,500 $1,348.500 $ 153,000 15,000 168,000 200,000 368,000 550,000 430,500 980,500 $1,348,500 Additional information: 1. Net income is $145,000 and includes depreciation expenses of $95,500. 2. Dividends declared and paid during the year were $44,000. 3 A machine costing $70,000 was sold at its book value (cost minus accumulated depreciation) of $20 000 4 No repayment of long term debt occurred in 2022 Required: Prepare a cash flow statement for the year ended December 31 2022.

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity
Section: Chapter Questions
Problem 6E: Balance Sheet Baggett Companys balance sheet accounts and amounts as of December 31, 2019, are shown...
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Question 9 Comparative balance sheets of Belch Ltd for 2022 and 2021 are as follows. Assets Current assets Cash Accounts receivable Notes receivable Inventories Total current assets Noncurrent assets Land Machinery Accumulated depreciation Total noncurrent assets Total assets Liabilities and shareholders' equity Current liabilities Accounts payable Interest payable Total current liabilities Long-term debt Total liabilities Belch Ltd Comparative Statement of Financial Position Dec. 31, 2022 Dec. 31, 2021 Shareholders equity Common shares Retained earnings Total shareholders' equity Total liabilities and shareholders' equity $ 200,000 160,000 70,000 399.000 829,000 525,000 483,000 (143,000) 865,000 $1,694,000 $ 145,000 17,500 162,500 350.000 512,500 650,000 531.500 1.181,500 $1,694,000 $ 188,000 133,000 61,000 326,000 708,000 500,000 238,000 (97,500) 640,500 $1,348.500 $ 153,000 15,000 168,000 200,000 368,000 550,000 430,500 980,500 $1,348,500 Additional information: 1. Net income is $145,000 and includes depreciation expenses of $95,500. 2. Dividends declared and paid during the year were $44,000. 3 A machine costing $70,000 was sold at its book value (cost mìnus accumulated depreciation) of $20 000 4 No repayment of long term debt occurred in 2022 Required: Prepare a cash flow statement for the year ended December 31 2022.
Transcribed Image Text:Question 9 Comparative balance sheets of Belch Ltd for 2022 and 2021 are as follows. Assets Current assets Cash Accounts receivable Notes receivable Inventories Total current assets Noncurrent assets Land Machinery Accumulated depreciation Total noncurrent assets Total assets Liabilities and shareholders' equity Current liabilities Accounts payable Interest payable Total current liabilities Long-term debt Total liabilities Belch Ltd Comparative Statement of Financial Position Dec. 31, 2022 Dec. 31, 2021 Shareholders equity Common shares Retained earnings Total shareholders' equity Total liabilities and shareholders' equity $ 200,000 160,000 70,000 399.000 829,000 525,000 483,000 (143,000) 865,000 $1,694,000 $ 145,000 17,500 162,500 350.000 512,500 650,000 531.500 1.181,500 $1,694,000 $ 188,000 133,000 61,000 326,000 708,000 500,000 238,000 (97,500) 640,500 $1,348.500 $ 153,000 15,000 168,000 200,000 368,000 550,000 430,500 980,500 $1,348,500 Additional information: 1. Net income is $145,000 and includes depreciation expenses of $95,500. 2. Dividends declared and paid during the year were $44,000. 3 A machine costing $70,000 was sold at its book value (cost mìnus accumulated depreciation) of $20 000 4 No repayment of long term debt occurred in 2022 Required: Prepare a cash flow statement for the year ended December 31 2022.
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