FINANCIAL ACCOUNTING 9TH
16th Edition
ISBN: 9781308821672
Author: Libby
Publisher: MCG/CREATE
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Chapter 5, Problem 5.15E
To determine
Indicate the effects (+ for increase, - for decrease and NE for no effect) and amounts of each transaction for Company MS.
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A company’s current-year income statement and selected balance sheet data at December 31 of the current and prior years follow. Prepare the operating activities section of the statement of cash flows using the indirect method for the current year.
Formulating Financial Statements from Raw Data
Following is selected financial information from Greenwood Industries, for its fiscal year ended ($ millions).
Cash and cash equivalents, end of year
Net cash from operations
Net sales
Stockholders' equity, end of year
Cost of goods sold
Net cash from financing
Total liabilities, end of year
Other expenses, including income taxes
Noncash assets, end of year
Net cash from investing
Net income
Effect of exchange rate changes on cash
Cash and cash equivalents, beginning of year
Net income
Cost of goods sold
REQUIRED
a. Prepare an income statement, balance sheet, and statement of cash flows for Greenwood Industries.
Note: Do not use negative signs with your answers in the Income Statement.
Net cash flows from operations
$2,516.7
5,514.3
26,439.9
14,411.2
Greenwood Industries
Income Statement
($ millions)
#
17,245.1
(2,912.3)
31,798.9
5,878.7
43,693.4
(729.3)
3,316.2
(31.1)
675.0
#
#
♦
+
♦
+ $
$
$
0
0
0
0
0
Greenwood Industries
Balance Sheet
(5…
Prepare a cash flow statement (indirect method) from the given information.
please include explanation for each step/line item
Chapter 5 Solutions
FINANCIAL ACCOUNTING 9TH
Ch. 5 - Prob. 1QCh. 5 - Prob. 2QCh. 5 - Prob. 3QCh. 5 - Explain what a material amount is.Ch. 5 - What basis of accounting (cash or accrual) does...Ch. 5 - Prob. 6QCh. 5 - Prob. 7QCh. 5 - Prob. 8QCh. 5 - Prob. 9QCh. 5 - For property, plant, and equipment, as reported on...
Ch. 5 - Briefly explain the major classifications of...Ch. 5 - Prob. 12QCh. 5 - Prob. 13QCh. 5 - Prob. 14QCh. 5 - If average total assets increase, but net income,...Ch. 5 - Prob. 2MCQCh. 5 - Prob. 3MCQCh. 5 - Prob. 4MCQCh. 5 - Prob. 5MCQCh. 5 - Prob. 6MCQCh. 5 - Prob. 7MCQCh. 5 - Prob. 8MCQCh. 5 - Prob. 9MCQCh. 5 - Prob. 10MCQCh. 5 - Prob. 5.1MECh. 5 - Prob. 5.2MECh. 5 - Prob. 5.3MECh. 5 - Prob. 5.4MECh. 5 - Determining Financial Statement Effects of Sales...Ch. 5 - Prob. 5.6MECh. 5 - Prob. 5.7MECh. 5 - Matching Players in the Accounting Communication...Ch. 5 - Prob. 5.2ECh. 5 - Finding Financial Information: Matching...Ch. 5 - Prob. 5.4ECh. 5 - Preparing a Classified Balance Sheet Campbell Soup...Ch. 5 - Prob. 5.6ECh. 5 - Preparing a Classified (Multiple-Step) Income...Ch. 5 - Prob. 5.8ECh. 5 - Prob. 5.9ECh. 5 - Prob. 5.10ECh. 5 - Prob. 5.11ECh. 5 - Stock Issuances and the Statement of Stockholders...Ch. 5 - Prob. 5.13ECh. 5 - Prob. 5.14ECh. 5 - Prob. 5.15ECh. 5 - Prob. 5.16ECh. 5 - Prob. 5.17ECh. 5 - Prob. 5.18ECh. 5 - Prob. 5.19ECh. 5 - Matching Transactions with Concepts Following are...Ch. 5 - Matching Definitions with Balance Sheet-Related...Ch. 5 - Prob. 5.3PCh. 5 - Prob. 5.4PCh. 5 - Preparing a Classified (Multiple-Step) Income...Ch. 5 - Prob. 5.6PCh. 5 - Determining and Interpreting the Effects of...Ch. 5 - Determining the Effects of Transactions on Ratios...Ch. 5 - Prob. 5.9PCh. 5 - Prob. 5.1APCh. 5 - Preparing a Statement of Stockholders' Equity...Ch. 5 - Prob. 5.3APCh. 5 - Prob. 5.4APCh. 5 - Evaluating the Impact of Transactions on Statement...Ch. 5 - Prob. 5.2CONCh. 5 - Finding Financial Information Refer to the...Ch. 5 - Finding Financial Information Refer to the...Ch. 5 - Prob. 5.3CPCh. 5 - Prob. 5.4CPCh. 5 - Prob. 5.5CPCh. 5 - Prob. 5.6CPCh. 5 - Prob. 5.7CP
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The KEY to Understanding Financial Statements; Author: Accounting Stuff;https://www.youtube.com/watch?v=_F6a0ddbjtI;License: Standard Youtube License