Statement of cash flows-indirect method PR 14-1A as follows: Dec. 31, 2015 Dec. 31, 2016 Cash $ 585,920 208,960 Assets Accounts receivable (net) $ 625,760 227,840 641,760 Inventories 617,120 240,000 Investments Land Equipment.. Accumulated depreciation-equipment 328,000 553,120 705,120 (166,400) $2,362,080 (148,000) $2,057,120 Total assets Liabilities and Stockholders' Equity rcount 424 480 $ 404,960
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- Paragraph Styles Section V: SCF Question 4 Identify the most significant cash outflow and inflow activity from Investing activities for the current year. Description of Activity Amount Click here to enter Cash outflow: (Hint: an outflow represents investing to support the long-term success of a compány.) text. 21 ${Student Frist Name} Olson Fall Arnica Mulder Click here to enter Cash inflow: text.Statement of cash flows—indirect method The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Line Item Description December 31, 20Y9 December 31, 20Y8 Assets Cash $305,280 $281,690 Accounts receivable (net) 110,590 101,170 Inventories 312,180 299,530 Investments 0 116,050 Land 160,130 0 Equipment 344,450 264,830 Accumulated depreciation—equipment (80,640) (71,410) Total assets $1,151,990 $991,860 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $208,510 $195,400 Accrued expenses payable (operating expenses) 20,740 25,790 Dividends payable 11,520 8,930 Common stock, $10 par 62,210 48,600 Paid-in capital in excess of par—common stock 233,850 134,890 Retained earnings 615,160 578,250 Total liabilities and stockholders' equity $1,151,990 $991,860 Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows: Equipment and land…Statement of Cash Flows—Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Cash $226,390 $211,080 Accounts receivable (net) 82,010 75,810 Inventories 231,510 224,450 Investments 0 86,960 Land 118,750 0 Equipment 255,440 198,450 Accumulated depreciation—equipment (59,800) (53,510) Total assets $854,300 $743,240 Liabilities and Stockholders' Equity Accounts payable $154,630 $146,420 Accrued expenses payable 15,380 19,320 Dividends payable 8,540 6,690 Common stock, $10 par 46,130 36,420 Paid-in capital: Excess of issue price over par-common stock 173,420 101,080 Retained earnings 456,200 433,310 Total liabilities and stockholders’ equity $854,300 $743,240 Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows: Equipment and…
- Here are comparative balance sheets for Skysong Company. Prepare a statement of cash flows-indirect method. SKYSONG COMPANY Comparative Balance Sheets December 31 Assets 2020 2019 Cash $72,000 $22,000 Accounts receivable 86,000 77,000 Inventory 171,000 192,000 Land 72,000 101,000 Equipment 263,000 199,000 Accumulated depreciation - equipment (65,000) (32,000) Total $599,000 $559,000 Liabilities and Stockholders' Equity Accounts payable $37,000 $48,000 Bonds payable 149,000 209,000 Common stock ($1 par) 214,000 171,000 Retained earnings 199,000 131,000 Total $599,000 $559,000 Additional information: 1. Net income for 2020 was $98,000. 2. Cash dividends of $30,000 were declared and paid. 3. Bonds payable amounting to $60,000 were redeemed for cash $60,000. 4. Common stock was issued for $43,000 cash. 5. Equipment that cost $49,000 and had a book value of $28,000 was sold for $33,000 during 2020; land was sold at cost. Prepare a statement of cash flows for 2020 using the indirect method.…Question 13 Prepare a statement of cash flows in good form assuming that Avatar Company uses the indirect method. Please refer to the following information for the year 2021. Avatar Company Balance Sheet December 31, 2021 2021 2020 Change Cash $21,000 $18,000 $3,000 Accounts receivable 31,000 35,000 (4,000) Inventory 53,000 25,000 28,000 Property, Plant & Equipment (net) 120,000 90,000 30,000 Total assets $225,000 $168,000 $57,000 Accounts payable $4,000 $6,000 $(2,000) Accrued liabilities 2,000 1,000 1,000 Long-term notes payable 84,000 90,000 (6,000) Total liabilities $90,000 $97,000 $(7,000)…Statement of cash flows—indirect method The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Line Item Description December 31, 20Y9 December 31, 20Y8 Assets Cash $269,900 $253,670 Accounts receivable (net) 97,780 91,110 Inventories 276,000 269,750 Investments 0 104,510 Land 141,570 0 Equipment 304,530 238,490 Accumulated depreciation—equipment (71,290) (64,310) Total assets $1,018,490 $893,220 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $184,350 $175,960 Accrued expenses payable (operating expenses) 18,330 23,220 Dividends payable 10,180 8,040 Common stock, $10 par 55,000 43,770 Paid-in capital in excess of par—common stock 206,750 121,480 Retained earnings 543,880 520,750 Total liabilities and stockholders' equity $1,018,490 $893,220 Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows: Equipment and land…
- eBook Show Me How Statement of Cash Flows—Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Cash $290,780 $268,930 Accounts receivable (net) 105,340 96,590 Inventories 297,360 285,980 Investments 0 110,790 Land 152,520 0 Equipment 328,080 252,830 Accumulated depreciation—equipment (76,810) (68,180) Total assets $1,097,270 $946,940 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $198,610 $186,550 Accrued expenses payable (operating expenses) 19,750 24,620 Dividends payable 10,970 8,520 Common stock, $10 par 59,250 46,400 Paid-in capital in excess of par—common stock 222,750 128,780 Retained earnings 585,940 552,070 Total liabilities and stockholders’ equity $1,097,270 $946,940 Additional data obtained from an examination of the…create a statement of cash flows with the given information: Scruggs, Inc. Balance Sheet December 31, 2017 2016 Cash $17,000 $12,000 Account receivable 60,000 40,000 Inventory 84,000 70,000 Prepaid expenses 6,000 4,000 Property, Plant & Equipment 250,000 210,000 Accumulated depreciation (60,000) (48,000) $357,000 $288,000 Accounts payable $35,000 $40,000 Interest payable 3,000 4,000 Income taxes payable 22,000 12,000 Bonds payable (due in 2020) 90,000 64,000 Common Stock $5 par 95,000 80,000 Retained Earnings 112,000 88,000 $357,000 $288,000…Statement of Cash Flows—Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Cash $239,460 $223,010 Accounts receivable (net) 86,750 80,100 Inventories 244,880 237,150 Investments 0 91,870 Land 125,600 0 Equipment 270,190 209,660 Accumulated depreciation—equipment (63,250) (56,540) Total assets $903,630 $785,250 Liabilities and Stockholders' Equity Accounts payable $163,560 $154,690 Accrued expenses payable 16,270 20,420 Dividends payable 9,040 7,070 Common stock, $10 par 48,800 38,480 Paid-in capital: Excess of issue price over par-common stock 183,440 106,790 Retained earnings 482,520 457,800 Total liabilities and stockholders’ equity $903,630 $785,250 Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows: Equipment and…
- Statement of Cash Flows—Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Cash $269,900 $249,630 Accounts receivable (net) 97,780 89,650 Inventories 276,020 265,460 Investments 0 102,840 Land 141,570 0 Equipment 304,530 234,680 Accumulated depreciation—equipment (71,300) (63,290) Total assets $1,018,500 $878,970 Liabilities and Stockholders' Equity Accounts payable $184,350 $173,160 Accrued expenses payable 18,330 22,850 Dividends payable 10,190 7,910 Common stock, $10 par 55,000 43,070 Paid-in capital: Excess of issue price over par-common stock 206,760 119,540 Retained earnings 543,870 512,440 Total liabilities and stockholders’ equity $1,018,500 $878,970 Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows:…Prepare a statement of cash flows for the Maness Coporation, using the infromation shown in the balance sheets. 2017 2018 Changes Assets Cash $150 $125 $(25) Accounts receiveable 350 375 25 Inventory 475 550 75 Total current assets 975 1,050 75 Gross fixed assets 2425 2750 325 Accumulated depreciation (1000) (1200) (200) Net fixed assets 1425 1550 125 TOTAL ASSETS 2400 2600…Statement of Cash Flows The comparative balance sheet of Whitman Co. at December 31, 20Y2 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $ 647,180 $ 696,900 Accounts receivable (net) 588,930 537,160 Inventories 893,110 821,920 Prepaid expenses 20,710 24,590 Land 222,630 336,530 Buildings 1,029,020 634,240 Accumulated depreciation-buildings (291,230) (271,820) Equipment 362,420 320,350 Accumulated depreciation-equipment (99,670) (111,960) Total assets $3,373,100 $2,987,910 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $ 640,890 $ 676,300 Bonds payable 188,890 0 Common stock, $20 par 222,000 82,000 Excess of…