Bundle: Financial & Managerial Accounting, Loose-Leaf Version, 13th + CengageNOWv2, 2 terms Printed Access Card
13th Edition
ISBN: 9781305516717
Author: Carl Warren, James M. Reeve, Jonathan Duchac
Publisher: Cengage Learning
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Textbook Question
Chapter 14, Problem 14.2APR
Statement of
The comparative
Dec 31,2016 | Dec. 31,2015 | |
Assets | ||
Cash | $ 146.600 | S 179,800 |
224,600 | 242,000 | |
Merchandise inventory………………………….. | 321,600 | 299,200 |
Prepaid expenses………………………….. | 13,400 | 9,600 |
Equipment………………………….. | 655,000 | 537,000 |
Accumulated depreciation—equipment………………………….. | (170,800) | (132,200) |
Total assets………………………….. | $ 1,190,400 | $1,135,400 |
Liabilities and Stockholders’ Equity | ||
Accounts payable (merchandise creditors) ………………………….. | $ 250,200 | S 237,600 |
Mortgage note payable………………………….. | 0 | 336,000 |
Common stock, $10 par………………………….. | 74,000 | 24,000 |
Paid in capital: Excess of issue price over par—common stock………………………….. | 470,000 | 320,000 |
396,200 | 217,800 | |
Total liabilities and stockholders’ equity………………………….. | $1,190,400 | $1,135,400 |
Additional data obtained from the income statement and from an examination of the accounts in the ledger for 2016 are as follows:
- a. Net income, $332,000
- b. Depreciation reported on the income statement, $83,400
- c. Equipment was purchased at a cost of $162,800 and fully
depreciated equipment costing $44,800 was discarded, with no salvage realized. - d. The mortgage note payable was not due until 2018 but the terms permitted earlier payment without penalty.
- e. 10,000 shares of common stock were issued at $20 for cash.
- f. Cash dividends declared and paid. $153,600
Instructions
Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities.
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Chapter 14 Solutions
Bundle: Financial & Managerial Accounting, Loose-Leaf Version, 13th + CengageNOWv2, 2 terms Printed Access Card
Ch. 14 - Prob. 1DQCh. 14 - Prob. 2DQCh. 14 - A corporation issued 2,000,000 of common stock in...Ch. 14 - A retail business, using the accrual method of...Ch. 14 - If salaries payable was 100,000 at the beginning...Ch. 14 - Prob. 6DQCh. 14 - A corporation issued 2,000,000 of 20-year bonds...Ch. 14 - Fully depreciated equipment costing 50,000 was...Ch. 14 - Prob. 9DQCh. 14 - Name five common major classes of operating cash...
Ch. 14 - Prob. 14.1APECh. 14 - Classifying cash flows Identify whether each of...Ch. 14 - Prob. 14.2APECh. 14 - Prob. 14.2BPECh. 14 - Prob. 14.3APECh. 14 - Prob. 14.3BPECh. 14 - Prob. 14.4APECh. 14 - Prob. 14.4BPECh. 14 - Land transactions on the statement of cash flows...Ch. 14 - Land transactions on the statement of cash flows...Ch. 14 - Prob. 14.6APECh. 14 - Prob. 14.6BPECh. 14 - Prob. 14.7APECh. 14 - Prob. 14.7BPECh. 14 - Prob. 14.8APECh. 14 - Prob. 14.8BPECh. 14 - Prob. 14.1EXCh. 14 - Prob. 14.2EXCh. 14 - Classifying cash flows Identify the type of cash...Ch. 14 - Prob. 14.4EXCh. 14 - Prob. 14.5EXCh. 14 - Prob. 14.6EXCh. 14 - Prob. 14.7EXCh. 14 - Determining cash payments to stockholders The...Ch. 14 - Prob. 14.9EXCh. 14 - Reporting changes in equipment on statement of...Ch. 14 - Prob. 14.11EXCh. 14 - Prob. 14.12EXCh. 14 - Reporting land acquisition for cash and mortgage...Ch. 14 - Prob. 14.14EXCh. 14 - Prob. 14.15EXCh. 14 - Prob. 14.16EXCh. 14 - Prob. 14.17EXCh. 14 - Prob. 14.18EXCh. 14 - Prob. 14.19EXCh. 14 - Prob. 14.20EXCh. 14 - Prob. 14.21EXCh. 14 - Cash flows from operating activities direct method...Ch. 14 - Prob. 14.23EXCh. 14 - Prob. 14.24EXCh. 14 - Prob. 14.25EXCh. 14 - Prob. 14.26EXCh. 14 - Prob. 14.1APRCh. 14 - Statement of cash flowsindirect method The...Ch. 14 - Prob. 14.3APRCh. 14 - Prob. 14.4APRCh. 14 - Statement of cash flowsdirect method applied to PR...Ch. 14 - Prob. 14.1BPRCh. 14 - Prob. 14.2BPRCh. 14 - Prob. 14.3BPRCh. 14 - Prob. 14.4BPRCh. 14 - Statement of cash flowsdirect method applied to PR...Ch. 14 - Prob. 14.1CPCh. 14 - Prob. 14.2CPCh. 14 - Analysis of statement of cash flows Dillip Lachgar...Ch. 14 - Prob. 14.4CP
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