Required information [The following information applies to the questions displayed below] Doyle Company Issued $390,000 of 10-year, 9 percent bonds on January 1, Year 2. The bonds were Issued at face value. Interest is payable in cash on December 31 of each year. Doyle Immediately Invested the proceeds from the bond issue in land. The land was leased for an annual $52,000 of cash revenue, which was collected on December 31 of each year, beginning December 31, Year 2. b. Prepare the income statement, balance sheet, and statement of cash flows for Year 2 and Year 3. Complete this question by entering your answers in the tabs below. Req B Income Req B Balance Statement Sheet Req B Statement of Cash Flows Prepare the statement of cash flows for Year 2 and Year 3. Note: Amounts to be deducted and cash outflows should be indicated with minus sign. DOYLE COMPANY Statement of Cash Flows For the Year Ended December 31 Year 2 Cash flows from operating activities Net cash flow from operating activities Cash flows from investing activities Net cash flows from investing activities Cash flows from financing activities Ending cash balance Net cash flows from financing activities Net change in cash $ 16.900 S 0 16,900 33,800 0 33.800 33,800 S Year 3 10,900 0 10,900 33,800 0 33.800 33.000
Required information [The following information applies to the questions displayed below] Doyle Company Issued $390,000 of 10-year, 9 percent bonds on January 1, Year 2. The bonds were Issued at face value. Interest is payable in cash on December 31 of each year. Doyle Immediately Invested the proceeds from the bond issue in land. The land was leased for an annual $52,000 of cash revenue, which was collected on December 31 of each year, beginning December 31, Year 2. b. Prepare the income statement, balance sheet, and statement of cash flows for Year 2 and Year 3. Complete this question by entering your answers in the tabs below. Req B Income Req B Balance Statement Sheet Req B Statement of Cash Flows Prepare the statement of cash flows for Year 2 and Year 3. Note: Amounts to be deducted and cash outflows should be indicated with minus sign. DOYLE COMPANY Statement of Cash Flows For the Year Ended December 31 Year 2 Cash flows from operating activities Net cash flow from operating activities Cash flows from investing activities Net cash flows from investing activities Cash flows from financing activities Ending cash balance Net cash flows from financing activities Net change in cash $ 16.900 S 0 16,900 33,800 0 33.800 33,800 S Year 3 10,900 0 10,900 33,800 0 33.800 33.000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Required information
[The following information applies to the questions displayed below]
Doyle Company issued $390,000 of 10-year, 9 percent bonds on January 1, Year 2. The bonds were
Issued at face value. Interest is payable in cash on December 31 of each year. Doyle Immediately
Invested the proceeds from the bond issue in land. The land was leased for an annual $52,000 of cash
revenue, which was collected on December 31 of each year, beginning December 31, Year 2.
b. Prepare the income statement, balance sheet, and statement of cash flows for Year 2 and Year 3.
Complete this question by entering your answers in the tabs below.
Req B Income Req B Balance
Statement Sheet
Req B
Statement of
Cash Flows
Prepare the statement of cash flows for Year 2 and Year 3.
Note: Amounts to be deducted and cash outflows should be indicated with minus sign.
DOYLE COMPANY
Statement of Cash Flows
For the Year Ended December 31
Year 2
Cash flows from operating activities
Net cash flow from operating activities.
Cash flows from investing activities
Net cash flows from investing activities
Cash flows from financing activities
Ending cash balance
Net cash flows from financing activities
Net change in cash
$
$
< Req B Balance Sheet
16,900 $
TO
16,900
33,800
0
0
33,800
33,800 $
Year 3
16,900
0
16,900
33,800
0
0
33,800
33,800
Req B Statement of Cash Flows](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F70ae18fa-4616-48a0-8ab9-3642194406c1%2F41e6419b-4e4e-47c7-a592-d360f7e8be16%2Fp2bzg3b_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below]
Doyle Company issued $390,000 of 10-year, 9 percent bonds on January 1, Year 2. The bonds were
Issued at face value. Interest is payable in cash on December 31 of each year. Doyle Immediately
Invested the proceeds from the bond issue in land. The land was leased for an annual $52,000 of cash
revenue, which was collected on December 31 of each year, beginning December 31, Year 2.
b. Prepare the income statement, balance sheet, and statement of cash flows for Year 2 and Year 3.
Complete this question by entering your answers in the tabs below.
Req B Income Req B Balance
Statement Sheet
Req B
Statement of
Cash Flows
Prepare the statement of cash flows for Year 2 and Year 3.
Note: Amounts to be deducted and cash outflows should be indicated with minus sign.
DOYLE COMPANY
Statement of Cash Flows
For the Year Ended December 31
Year 2
Cash flows from operating activities
Net cash flow from operating activities.
Cash flows from investing activities
Net cash flows from investing activities
Cash flows from financing activities
Ending cash balance
Net cash flows from financing activities
Net change in cash
$
$
< Req B Balance Sheet
16,900 $
TO
16,900
33,800
0
0
33,800
33,800 $
Year 3
16,900
0
16,900
33,800
0
0
33,800
33,800
Req B Statement of Cash Flows
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