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.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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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