The comparative balance sheet of Hirayama Industries Inc. for December 31, 20Y2 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash Accounts receivable (net) Inventories Land Equipment Accumulated depreciation-equipment $171 97 61 139 78 (21) $525 Total Assets Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Dividends payable Common stock, $1 par Excess of paid-in capital over par Retained earnings Total liabilities and stockholders' equity The following additional information is taken from the records: 1. Land was sold for $50. 2. Equipment was acquired for cash. 3. There were no disposals of equipment during the year. 4. The common stock was issued for cash. $66 11 35 80 333 $525 $56 70 38 159 61 (11) $373 $56 18 44 255 $373 5. There was a $113 credit to Retained Earnings for net income. 6. There was a $35 debit to Retained Earnings for cash dividends declared.
The comparative balance sheet of Hirayama Industries Inc. for December 31, 20Y2 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash Accounts receivable (net) Inventories Land Equipment Accumulated depreciation-equipment $171 97 61 139 78 (21) $525 Total Assets Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Dividends payable Common stock, $1 par Excess of paid-in capital over par Retained earnings Total liabilities and stockholders' equity The following additional information is taken from the records: 1. Land was sold for $50. 2. Equipment was acquired for cash. 3. There were no disposals of equipment during the year. 4. The common stock was issued for cash. $66 11 35 80 333 $525 $56 70 38 159 61 (11) $373 $56 18 44 255 $373 5. There was a $113 credit to Retained Earnings for net income. 6. There was a $35 debit to Retained Earnings for cash dividends declared.
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter15: Statement Of Cash Flows
Section: Chapter Questions
Problem 7E
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![The comparative balance sheet of Hirayama Industries Inc. for December 31, 20Y2 and 20Y1, is as follows:
Dec. 31, 20Y2
Dec. 31, 20Y1
Assets
Cash
Accounts receivable (net)
Inventories
Land
Equipment
Accumulated depreciation-equipment
$171
97
61
139
78
(21)
$525
Total Assets
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)
Dividends payable
Common stock, $1 par
Excess of paid-in capital over par
Retained earnings
Total liabilities and stockholders' equity
The following additional information is taken from the records:
1. Land was sold for $50.
2. Equipment was acquired for cash.
3. There were no disposals of equipment during the year.
4. The common stock was issued for cash.
$66
11
35
80
333
$525
$56
70
38
159
61
(11)
$373
$56
18
44
255
$373
5. There was a $113 credit to Retained Earnings for net income.
6. There was a $35 debit to Retained Earnings for cash dividends declared.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F47b86a87-d595-44a7-ab4d-189c9725c788%2Fe4b9683c-949b-4e13-9fdf-aa18b2b7519f%2Flsvsmri_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The comparative balance sheet of Hirayama Industries Inc. for December 31, 20Y2 and 20Y1, is as follows:
Dec. 31, 20Y2
Dec. 31, 20Y1
Assets
Cash
Accounts receivable (net)
Inventories
Land
Equipment
Accumulated depreciation-equipment
$171
97
61
139
78
(21)
$525
Total Assets
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)
Dividends payable
Common stock, $1 par
Excess of paid-in capital over par
Retained earnings
Total liabilities and stockholders' equity
The following additional information is taken from the records:
1. Land was sold for $50.
2. Equipment was acquired for cash.
3. There were no disposals of equipment during the year.
4. The common stock was issued for cash.
$66
11
35
80
333
$525
$56
70
38
159
61
(11)
$373
$56
18
44
255
$373
5. There was a $113 credit to Retained Earnings for net income.
6. There was a $35 debit to Retained Earnings for cash dividends declared.
![Statement of Cash Flows
For the Year Ended December 31, 20Y2
Cash flows from (used for) operating activities:
Adjustments to reconcile net income to net cash flows from (used for) operating activities:
Changes in current operating assets and liabilities:
Net cash flow from operating activities
Cash flows from (used for) investing activities:
Net cash flow from investing activities
Cash flows from (used for) financing activities:
Net cash flows from financing activities
Cash balance, January 1, 20Y2
Cash balance, December 31, 20Y2
Q00 000 00 00
0 0 0000
Previous](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F47b86a87-d595-44a7-ab4d-189c9725c788%2Fe4b9683c-949b-4e13-9fdf-aa18b2b7519f%2Fnb848aq_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Statement of Cash Flows
For the Year Ended December 31, 20Y2
Cash flows from (used for) operating activities:
Adjustments to reconcile net income to net cash flows from (used for) operating activities:
Changes in current operating assets and liabilities:
Net cash flow from operating activities
Cash flows from (used for) investing activities:
Net cash flow from investing activities
Cash flows from (used for) financing activities:
Net cash flows from financing activities
Cash balance, January 1, 20Y2
Cash balance, December 31, 20Y2
Q00 000 00 00
0 0 0000
Previous
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