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PR 13-3B Statement of cash flows-indirect method The comparative balance sheet of Coulson, Inc. at December 31, 20Y2 and 20Y1, is as s a 4 oo1. 2, 3, Dec. 31,20Y1 Dec. 31, 20Y2 ities, ,800 $337800 609,600 $300,600 704,400 918,600 18,600 990,000 1,980,000 (397,200) 660,600 Assets 865,800 26,400 . .. Accounts receivable (net) Inventories PLATE 1,386,000 990,000 (366,000) 529,800 Accumulated depreciation-buildings.... (162,000 $4,217,400 133,200) Accumulated depreciation-equipment $5,042,400 Liabilities and Stockholders Equity 631,200 Accounts payable (merchandise creditors) . .. Bonds payable .. Paid-in capital: Excess of issue price over par-common stock 594,000 26,400 330,000 320,000 950,000 2,822,000 21,600 180,000 810,000 2,574,600 Retained earnings.... 55:042400 $4217
Chapter 13 Staement of Cash boncurrent liability, and stockholders equity accounts for 20Y2 are ACCOUNT NO. Debit Credit Debit Credit Jan. Balance Apr. 20 Realized $456,000 cash from sale 96,000 990,000 ACCOUNT Buildings Debit Credit Debit Credit Jan. Balance Apr. 20 Acquired for cash 1,980,000 ACCOUNT Accumulated Depreciation-Buildings ACCOUNT NO. Item Debit Creditbit Credit Jan. Balance Dec. 31 Depreciation for year 1,200 397,200 ACCOUNT Equipment ACCOUNT NO. Date Debit Credit Debit Credit Item 29,800 Jan. 1 Balance Aug. 11 Purchased for cash ACCOUNT Accumulated Depreciation-Equipment 26 Discarded, no salvage 66,000 463,800 196,800 660,600 ACCOUNT NO. Balance Item Debit Credit Debit Credit Date 162,000 96,000 133,200 Jan. 1 Balance Dec. 31 Depreciation for year ACCOUNT Bonds Payable 66,000 26 Equipment discarded 37,200 NO. Balance Debit Credit Debit Credit Item Date 330,000 330,000 2012 1 Issued 20-year bonds May1 (Continus
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Coulson Inc Cash flow Statement 94 95 96 97 98 For the period ending December 31, 20X2 (In millions) Details $ Indirect method (In millions) Amount $ Particulars Cash flows from operating Activities Net Income Add Adjustments to reconcile net income to net cash provided by operating activities Depreciation Gain on sale of Land Changes in Operating Assets & Liabilities Increase in Accounts receivable Increase in Inventory Decrease in Prepaid Expenses Decrease in Accounts Payable Increase in Income lax Payable Net Cash provided by Operating Activities 326,600 100 101 102 103 104 105 106 107 108 109 110 68,400 (60,000) (94,800) (52,800) 7,800 (37,200) 4,800 (163,800) 162,800 112 113 114 115 116 Cash Flows from Investing Activities Sale of land Purchase of Building Purchase of Equipment Net cash used by Investing Activities 456,000 (990,000) (196,800) (730,800)119Cash Flows from Financing Activities 120 121 122 123 Issue of common shares 280,000 330,000 (79,200) Payment of Dividend Net cash provided by Financing Activities Net Decrease in Cash & its equivalents Add Opening Balance of Cash Closing Balance of Cash 530,800 (37,200) 337,800 300,600 125 127 128 129

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