Statement of Financial Position Data Paid cash dividend Established restricted construction cash fund (a long-term investment) to build a new building $ 27,000 68,500 Increased inventory of merchandise 22,500 Borrowed on a long-term note 33,500 Acquired five acres of land for a future site for the company; paid in full by issuing 3,850 shares of Rangler common shares, when the quoted market price per share was $15 57,750 Increase in prepaid expenses 4,700 Decrease in accounts receivable 8,700 Payment of bonds payable in full at book value 105,500 Increase in accounts payable 8,400 Cash from disposal of old operational assets (sold at book value) Decrease in rent receivable Statement of Comprehensive Income Sales revenue Rent revenue Cost of goods sold Depreciation expense Remaining expenses Net earnings and comprehensive income $417,000 18,500 (207,000) (28,500) (105,500) $94,500 13,700 5,400 Required: Prepare the SCF using the indirect method for operating activities. Group all changes in non-cash working capital in operations as one amount. Separate disclosure of cash paid for interest and income tax and investment income is not required. Assume a beginning cash balance of $70.500. (Enter your answers in thousands of dollars. Deductible amounts and Cash outflows should be indicated with
Statement of Financial Position Data Paid cash dividend Established restricted construction cash fund (a long-term investment) to build a new building $ 27,000 68,500 Increased inventory of merchandise 22,500 Borrowed on a long-term note 33,500 Acquired five acres of land for a future site for the company; paid in full by issuing 3,850 shares of Rangler common shares, when the quoted market price per share was $15 57,750 Increase in prepaid expenses 4,700 Decrease in accounts receivable 8,700 Payment of bonds payable in full at book value 105,500 Increase in accounts payable 8,400 Cash from disposal of old operational assets (sold at book value) Decrease in rent receivable Statement of Comprehensive Income Sales revenue Rent revenue Cost of goods sold Depreciation expense Remaining expenses Net earnings and comprehensive income $417,000 18,500 (207,000) (28,500) (105,500) $94,500 13,700 5,400 Required: Prepare the SCF using the indirect method for operating activities. Group all changes in non-cash working capital in operations as one amount. Separate disclosure of cash paid for interest and income tax and investment income is not required. Assume a beginning cash balance of $70.500. (Enter your answers in thousands of dollars. Deductible amounts and Cash outflows should be indicated with
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter7: Receivables And Investments
Section: Chapter Questions
Problem 7.11E
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Transcribed Image Text:Statement of Financial Position Data
Paid cash dividend
Established restricted construction cash fund (a long-term investment) to build a
new building
$ 27,000
68,500
Increased inventory of merchandise
22,500
Borrowed on a long-term note
33,500
Acquired five acres of land for a future site for the company; paid in full by
issuing 3,850 shares of Rangler common shares, when the quoted market price per
share was $15
57,750
Increase in prepaid expenses
4,700
Decrease in accounts receivable
8,700
Payment of bonds payable in full at book value
105,500
Increase in accounts payable
8,400
Cash from disposal of old operational assets (sold at book value)
Decrease in rent receivable
Statement of Comprehensive Income
Sales revenue
Rent revenue
Cost of goods sold
Depreciation expense
Remaining expenses
Net earnings and comprehensive income
$417,000
18,500
(207,000)
(28,500)
(105,500)
$94,500
13,700
5,400
Required:
Prepare the SCF using the indirect method for operating activities. Group all changes in non-cash working capital in operations as one
amount. Separate disclosure of cash paid for interest and income tax and investment income is not required. Assume a beginning cash
balance of $70.500. (Enter your answers in thousands of dollars. Deductible amounts and Cash outflows should be indicated with
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