The comparative balance sheet of Ranger Equipment Co. for December 31, 2015, and 2014 is as follows: Dec. 31, 2015 Dec. 31, 2014 Cash Account receivable (net) Inventories Investments Land Assets Equipment Accumulated depreciation - equipment Total assets Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Accrued expenses payable (operating expenses) Dividends payable Common Stock, $1 por Paid-in capital in excess of par-common stock Retained eamings Total liabilities and stockholders' equity $ 75,720 207,230 298,520 0 295,800 438.600 (99,110) $ 205,700 30,600 25,500 202.000 354,000 398.960 $ 47,940 $1,216.760 $901,680 188,190 289,850 YOU WORKSHEET 102.000 0 358,020 (84,320) $ 194,140 26,860 20,400 102.000 204,000 354.280 $1,216.760 $ 901.680 Additional data obtained from an examination of the accounts in the ledger for 2015 are as follows: 1. Equipment and land were acquired for cash. 2. There were no disposals of equipment during the year. 3. The investments were sold for $91,800 cash. 4. The common stock was issued for cash. 5. There was a $151,680 credit to Retained Earnings for net income. 6. There was a $107.000 debit to Retained Earnings for cash dividends declared. REQUIRED: Prepare in the proper format a Statement of Cash Flows using the Indirect Method of presenting cash flows from ( for) operating activities. INSTRUCTIONS:
The comparative balance sheet of Ranger Equipment Co. for December 31, 2015, and 2014 is as follows: Dec. 31, 2015 Dec. 31, 2014 Cash Account receivable (net) Inventories Investments Land Assets Equipment Accumulated depreciation - equipment Total assets Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Accrued expenses payable (operating expenses) Dividends payable Common Stock, $1 por Paid-in capital in excess of par-common stock Retained eamings Total liabilities and stockholders' equity $ 75,720 207,230 298,520 0 295,800 438.600 (99,110) $ 205,700 30,600 25,500 202.000 354,000 398.960 $ 47,940 $1,216.760 $901,680 188,190 289,850 YOU WORKSHEET 102.000 0 358,020 (84,320) $ 194,140 26,860 20,400 102.000 204,000 354.280 $1,216.760 $ 901.680 Additional data obtained from an examination of the accounts in the ledger for 2015 are as follows: 1. Equipment and land were acquired for cash. 2. There were no disposals of equipment during the year. 3. The investments were sold for $91,800 cash. 4. The common stock was issued for cash. 5. There was a $151,680 credit to Retained Earnings for net income. 6. There was a $107.000 debit to Retained Earnings for cash dividends declared. REQUIRED: Prepare in the proper format a Statement of Cash Flows using the Indirect Method of presenting cash flows from ( for) operating activities. INSTRUCTIONS:
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
100%
Please refer to the screenshot provided below:
Transcribed Image Text:The comparative balance sheet of Ranger Equipment Co. for December 31, 20Y5, and 20Y4 is as follows:
Cash
Account receivable (net)
Inventories
Investments
Land
Assets
Equipment
Accumulated depreciation - equipment
Total assets
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)
Accrued expenses payable (operating expenses)
Dividends payable
Common Stack, $1 par
Paid-in capital in excess of par-common stock
Retained earnings
Total liabilities and stockholders' equity
Dec. 31, 20Y5 Dec. 31, 20Y4
$ 75,720 $ 47,940
207,230
298,520
0
295,800
438,600
(99,110)
30,600
25,500
202,000
188,190
354,000
289,850
$1,216,760 $901.680
398,960
102,000
$ 205,700 $ 194,140
0
358,020
(84,320)
26,860
20,400
102,000
204,000
354,280
$1,216,760 $ 901,680
Additional data obtained from an examination of the accounts in the ledger for 2015 are as follows:
1. Equipment and land were acquired for cash.
2. There were no disposals of equipment during the year.
3. The investments were sold for $91,800 cash.
4. The common stock was issued for cash.
5. There was a $151,680 credit to Retained Earnings for net income.
6. There was a $107,000 debit to Retained Earnings for cash dividends declared.
REQUIRED:
Prepare in the proper format a Statement of Cash Flows using the Indirect Method of presenting cash flows from (used
for) operating activities.
INSTRUCTIONS:
1. must be submitted using an "EXCEL WORKSHEET."
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 2 images
Recommended textbooks for you
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
Foundations Of Finance
Finance
ISBN:
9780134897264
Author:
KEOWN, Arthur J., Martin, John D., PETTY, J. William
Publisher:
Pearson,
Fundamentals of Financial Management (MindTap Cou…
Finance
ISBN:
9781337395250
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Finance
ISBN:
9780077861759
Author:
Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor
Publisher:
McGraw-Hill Education