Question

I have questions about Bryon Manfacturing Spread sheet on CengageNOWv2. I put question marks on the spread sheet for the question I need help with.

Thank you

Byron Manufacturing Balance Sheets As of December 31, 20Y8 and 20Y7
Assets	20Y8	20Y7
Current assets:
Cash	5,440	9,050
Accounts receivable	10,630	8,960
Inventory	19,650	18,640
Total current assets	35,720	36,650
Property, plant, and equipment
Building	498,000	498,000
Equipment	280,000	272,100
	778,000	770,100
Accumulated depreciation	(148,350)	(120,450)
Net property, plant, and equipment	629,650	649,650
Total assets	665,370	686,300
Liabilities and Equity
Current liabilities:
Accounts payable	55,250	36,000
Salaries payable	9,470	11,820
Income taxes payable	1,190	9,840
Total current liabilities	65,910	57,660
Long-term liabilities:
Bonds payable	353,000	397,000
Equity:
Common stock	180,000	149,000
Retained earnings	66,460	82,640
Total equity	246,460	231,640
Total liabilities and equity	665,370	686,300

Additional information needed to prepare the statement of cash flows using the indirect method:

1. Net income was $2,870
2. Byron paid $19,050 in cash dividends
3. Byron issued $46,690 in bonds payable for cash
4. Byron retired $90,690 in bonds with cash
5. No fixed assets were sold or disposed of during the period

Byron Manufacturing Spreadsheet to Prepare the Statement of Cash Flows For the Year Ended December 31, 20Y8
	Beginning		Increase/Decrease			Ending
Balance Sheet Accounts	Balance		Debit	Credit		Balance
Cash	9050		0	?	(m)	?
Accounts receivable	8,960	(h)	1,670	—		10,630
Inventory	18,640	(i)	?	?		19,650
Building	498,000		—	—		498,000
Equipment	272,100	(b)	?	?		280,000
Accumulated depreciation	120,450		?	?	(c)	148,350
Accounts payable	36,000		—	19,250	(j)	55,250
Salaries payable	11,820	(k)	?	?		9,470
Income taxes payable	9,840	(l)	8,650	—		1,190
Bonds payable	397,000	(e)	?	?	(d)	353,000
Common stock	149,000		—	31,000	(f)	180,000
Retained earnings	82,640	(g)	?	?	(a)	66,460
			Increase/Decrease in Cash
Statement of Cash Flows			Debit	Credit
Cash flow from operating activities
Net income		(a)	?
Adjustments to reconcile net income      to net cash flow from operating activities
Depreciation expense		(c)	?
Increase in accounts receivable			—	1,670	(h)
Increase in inventory			—	?	(i)
Increase in accounts payable		(j)	19,250	—
Decrease in salaries payable			—	?	(k)
Decrease in income taxes payable			—	8,650	(l)
Cash flows from investing activities
Purchase equipment				?	(b)
Cash flows from financing activities
Issued bonds payable		(d)	?
Retired bonds payable				?	(e)
Issued common stock		(f)	31,000
Paid dividend					(g)
Net increase (decrease) in cash		(m)	?	—?
			262,640	262,640

Answer 1

I have completed both the sheets and filled up all the question marks you needed help with.

As a result the cash flow statement has been completed and reconciled to arrive at the closing cash and cash equivalents amounting to $5440. Hope the same helps.

Byron Manufacturing
Spreadsheet to Prepare the Statement of Cash Flows
For the Year Ended December 31, 20Y8
	Beginning		Increase/Decrease		Ending
Balance Sheet Accounts	Balance		Debit	Credit		Balance
Cash	9050		0	3610	(m)	5440
Accounts receivable	8,960	(h)	1,670	—		10,630
Inventory	18,640	(i)	1,010	—		19,650
Building	4,98,000		—	—		4,98,000
Equipment	2,72,100	(b)	7,900	—		2,80,000
Accumulated depreciation	1,20,450		—	27,900	(c)	1,48,350
Accounts payable	36,000		—	19,250	(j)	55,250
Salaries payable	11,820	(k)	2,350	—		9,470
Income taxes payable	9,840	(l)	8,650	—		1,190
Bonds payable	3,97,000	(e)	90690	46690	(d)	3,53,000
Common stock	1,49,000		—	31,000	(f)	1,80,000
Retained earnings	82,640	(g)	19050	2870	(a)	66,460
		Increase/Decrease in Cash
Statement of Cash Flows			Debit	Credit
Cash flow from operating activities
Net income		(a)	2870
Adjustments to reconcile net income
to net cash flow from operating activities
Depreciation expense		(c)	27,900
Increase in accounts receivable			—	1,670	(h)
Increase in inventory			—	1,010	(i)
Increase in accounts payable		(j)	19,250	—
Decrease in salaries payable			—	2,350	(k)
Decrease in income taxes payable			—	8,650	(l)
Cash flows from investing activities
Purchase equipment				7,900	(b)
Cash flows from financing activities
Issued bonds payable		(d)	46690
Retired bonds payable				90690	(e)
Issued common stock		(f)	31,000
Paid dividend				19050	(g)
	Subtotal
Net increase (decrease) in cash		(m)	—	-3610
Opening Cash and cash equivalents				9050
Closing Cash and cash equivalents				5440