Question

Problem 14-11 Missing Data; Statement of Cash Flows (LO14-1, LO 14-2] Yoric Company listed the net changes in its balance sheet accounts for the past year as follows: Credits > Debits by: Debits > Credits by: $ 118,900 170,300 $ 84,100 4,200 103,000 99,000 267,000 Cash Accounts receivable Inventory Prepaid expenses Long-term loans to subsidiaries Long-term investments Plant and equipment Accumulated depreciation Accounts payable Accrued liabilities Income taxes payable Bonds payable Common stock Retained earnings 66,000 48,800 5,900 9,600 402,000 124,000 75,800 $789,300 $ 789,300 The following additional information is available about last year's activities: a. Net income for the year was $_?_ b. The company sold equipment during the year for $35,300. The equipment originally cost $160,400 and it had $126,300 in accumulated depreciation at the time of sale. C. Cash dividends of $10,300 were declared and paid during the year. d. The beginning and ending balances in the Plant and Equipment and Accumulated Depreciation accounts are given below:

Answer 1

X fx cash flow from operating activities $ 86,100 Yoric Company Statement of Cash Flows cash flow from operating activities net income adjustments to reconcile net income to net cash flow from operating activities: depreciation expense gain on sale of equipment increase in accounts receivable decrease in inventory increase in prepaid expenses increase in accounts payable decrease in accrued liabilities increase in income taxes payable net cash provided by operating activities $ 1,92,300 -$ 1,200 -$ 1,70,300 $ 84,100 -$ 4,200 $ 48,800 -$ 5,900 $ 9,600 $ 1,53,200 $ 2,39,300

B17 X for cash flow from investing activities Α cash flow from investing activities cash used for purchase of long term investments cash received from sale of equipment cash used for purchase of equipment cash received from loan repaid by subsidiaries net cash used by investing activities -$ 99,000 $ 35,300 -$ 4,27,400 $ 1,03,000 $ 3,88,100 cash flow from financing activities cash used for retirement of common stock cash received from issue of bonds payable cash used for payment of dividends net cash provided by financing activities -$ 1,24,000 $ 4,02,000 $ 10,300 $ 2,67,700 net increase in cash beginning cash and cash equivalents ending cash and cash equivalents $ 1,18,900 $ 1,09,900 $ 2,28,800 net income cash balance at the end of the year $ 86,100 $ 2,28,800

For formulas and calculations, refer to the image below -

X for cash flow from operating activities A Yoric Company Statement of Cash Flows cash flow from operating activities net income =75800+10300 adjustments to reconcile net income to net cash flow from operating activities: depreciation expense gain on sale of equipment increase in accounts receivable decrease in inventory increase in prepaid expenses increase in accounts payable decrease in accrued liabilities increase in income taxes payable net cash provided by operating activities =66000+126300 =160400-126300-35300 -170300 84100 -4200 48800 -5900 9600 =SUM(C7:C14) =D5+D14

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B17 X for cash flow from investing activities cash flow from investing activities cash used for purchase of long term investments cash received from sale of equipment cash used for purchase of equipment cash received from loan repaid by subsidiaries net cash used by investing activities -99000 35300 1=-(267000+160400) 103000 =SUM(C18:021) cash flow from financing activities cash used for retirement of common stock cash received from issue of bonds payable cash used for payment of dividends net cash provided by financing activities |- 124000 402000 -10300 =SUM(C25:C27) net increase in cash beginning cash and cash equivalents ending cash and cash equivalents =D15+D22+D28 109900 =D30+D31 =D5 net income cash balance at the end of the year =D32