College Accounting, Chapters 1-9
College Accounting, Chapters 1-9
22nd Edition
ISBN: 9781305667679
Author: James A. Heintz; Robert W. Parry
Publisher: Cengage South-Western
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Chapter 23, Problem 11SPB

COMPUTE CASH PROVIDED BY OPERATING ACTIVITIES Powell Company’s condensed income statement for the year ended December 31, 20-2, was as follows:

Chapter 23, Problem 11SPB, COMPUTE CASH PROVIDED BY OPERATING ACTIVITIES Powell Companys condensed income statement for the , example  1

Additional information obtained from Powell’s comparative balance sheet and auxiliary

records as of December 31, 20-2 and 20-1, was as follows:

Chapter 23, Problem 11SPB, COMPUTE CASH PROVIDED BY OPERATING ACTIVITIES Powell Companys condensed income statement for the , example  2

Depreciation expense for 20-2, included in operating expenses on the income statement, was $29,000.

REQUIRED

Prepare a partial statement of cash flows reporting cash provided by operating activities for the year ended December 31, 20-2.

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Financial data for Hunger Games Company for last year appear below: Hunger Games Company Statements of Financial Position Beginning Balance Ending Balance Assets: Cash $120,700 $220,000 Accounts receivable 225,000 475,000 Inventory 317,000 390,000 Plant and equipment (net) 940,000 860,000 Investment in Katniss Company 100,000 98,000 Land (undeveloped) 198,000 65,000 Total assets $1,900,700 $2,108,000 Liabilities and owners' equity: Accounts payable $178,700 $8,000 Long-term debt 512,000 600,000 Owners' equity 1,210,000 1,500,000 Total liabilities and owners' $1,900,700 $2,108,000 equity
Financial data for Hunger Games Company for last year appear below: Hunger Games Company Statements of Financial Position Beginning Balance Ending Balance Assets: Cash $120,700 $220,000 Accounts receivable 225,000 475,000 Inventory 317,000 390,000 Plant and equipment (net) 940,000 860,000 Investment in Katniss Company 100,000 98,000 Land (undeveloped) 198,000 65,000 Total assets $1,900,700 $2,108,000 Liabilities and owners' equity: Accounts payable $178,700 $8,000 Long-term debt 512,000 600,000 Owners' equity 1,210,000 1,500,000 Total liabilities and owners' $1,900,700 $2,108,000 equity
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College Accounting, Chapters 1-9

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