Statement of cash flows : This statement reports all the cash transactions which are responsible for inflow and outflow of cash, and result of these transactions is reported as ending balance of cash at the end of reported period. Statement of cash flows includes the changes in cash balance due to operating, investing, and financing activities. To prepare : Statement of cash flows of EC Group for the year ended May 31, 2016.

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Question Content Area Comprehensive: Balance Sheet from Statement of Cash Flows Mills Company prepared the following balance sheet at the beginning of 2016: Balance SheetJanuary 1, 2016 Assets Liabilities and Shareholders' Equity Cash $ 1,000 Accounts payable $ 4,000 Accounts receivable (net) 3,900 Salaries payable 1,100 Inventory 4,700 Total Liabilities $ 5,100 Land 9,800 Common stock, $10 par 13,500 Buildings and equipment 68,900 Additional paid-in capital 11,200 Less: Accumulated depreciation (14,100) Retained earnings 44,400 Total Assets $ 74,200 Total Liabilities and Shareholders' Equity $74,200 At the end of 2016, Mills prepared the following statement of cash flows: Statement of Cash FlowsFor Year Ended December 31, 2016 Operating Activities: Net income $ 5,400 Adjustments for differences between income flowsand cash flows from operating activities: Add: Depreciation expense 1,900 Decrease in…

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Chapter 1, Problem 1.24EX

To determine

Statement of cash flows: This statement reports all the cash transactions which are responsible for inflow and outflow of cash, and result of these transactions is reported as ending balance of cash at the end of reported period. Statement of cash flows includes the changes in cash balance due to operating, investing, and financing activities.

To prepare: Statement of cash flows of EC Group for the year ended May 31, 2016.

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Question Content Area Comprehensive: Balance Sheet from Statement of Cash Flows Mills Company prepared the following balance sheet at the beginning of 2016: Balance SheetJanuary 1, 2016 Assets Liabilities and Shareholders' Equity Cash $ 1,000 Accounts payable $ 4,000 Accounts receivable (net) 3,900 Salaries payable 1,100 Inventory 4,700 Total Liabilities $ 5,100 Land 9,800 Common stock, $10 par 13,500 Buildings and equipment 68,900 Additional paid-in capital 11,200 Less: Accumulated depreciation (14,100) Retained earnings 44,400 Total Assets $ 74,200 Total Liabilities and Shareholders' Equity $74,200 At the end of 2016, Mills prepared the following statement of cash flows: Statement of Cash FlowsFor Year Ended December 31, 2016 Operating Activities: Net income $ 5,400 Adjustments for differences between income flowsand cash flows from operating activities: Add: Depreciation expense 1,900 Decrease in…

Statement of Cash Flows The balance sheet of Beach Bum Company for December 31, 2017 and 2018, is as follows: Beach Bum Company Balance Sheet December 31, 2017 and 2018 Assets 2017 2018 Cash $140,350 95,900 Accounts receivable (net) 95,300 102,300 Inventories 165,200 157,900 Prepaid expenses 6,240 5,860 Investment (long-term) 35,700 84,700 Land 75,000 90,000 Buildings 375,000 260,000 Accumulated depreciation – buildings (71,300) (58,300) Machinery and equipment 428,300 428,300 Accumulated depreciation – machinery and equipment (148,500) (138,000) Patents 58,000 65,000 Total Assets $1,159,290 $1,093,660 Liabilities and Stockholders’ Equity Accounts Payable (Merchandise Creditors) 43,500 46,700 Accrued expenses payable (operating expenses) 14,000 12,500 Income taxes payable 7,900 8,400 Dividends payable 14,000 10,000 Mortgage note…

The following is the comparative balance sheet of Manish Ltd. Prepare a Cash Flow Statement for the year ended 31 December, 2016 from the details given below: Liabilities Assets 31st Dec., 31st Dec., 2015 31st Dec., 31st Dec., 2015 2016 2016 Share Capital Reserves & Surplus 730,000 755,000 Long-term loans Current Liabilities Fixed assets 760,000 792,500 Depreciation 717,500 27,500 Inventory Accounts 740,000 740,000 720,000 30,000 715,000 26,000 740,000 735,000 20,000 734,000 Receivable Dividend Provision 78,000 マ1,05,000 1,59,000 Cash 72,500 725,000 そ1,05,000 マ1,59,000 The Income statement for Manish Ltd. for the year ended 31 December 2015 shows the following information: Amount(*) 1,45,000 99,000 12,500 8,000 Sales Cost of Sales Tax provisions Dividend provided