The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as...

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The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as...

The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows:

	Dec. 31, 20Y9	Dec. 31, 20Y8
Assets
Cash	$275,320	$256,110
Accounts receivable (net)	99,740	91,980
Inventories	281,550	272,340
Investments	0	105,510
Land	144,410	0
Equipment	310,640	240,780
Accumulated depreciation—equipment	(72,730)	(64,930)
Total assets	$1,038,930	$901,790

Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)	$188,050	$177,650
Accrued expenses payable (operating expenses)	18,700	23,450
Dividends payable	10,390	8,120
Common stock, $10 par	56,100	44,190
Paid-in capital in excess of par—common stock	210,900	122,640
Retained earnings	554,790	525,740
Total liabilities and stockholders’ equity	$1,038,930	$901,790

Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows:

Equipment and land were acquired for cash.
There were no disposals of equipment during the year.
The investments were sold for $123,450 cash.
The common stock was issued for cash.
There was a $71,430 credit to Retained Earnings for net income.
There was a $42,380 debit to Retained Earnings for cash dividends declared

Required:

Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments.

Merrick Equipment Co.
Statement of Cash Flows
For the Year Ended December 31, 20Y9
Cash flows from (used for) operating activities:
	$
Adjustments to reconcile net income to net cash flow from operating activities:


Changes in current operating assets and liabilities:




Net cash flow from operating activities		$
Cash flows from (used for) investing activities:
	$


Net cash flow used for investing activities
Cash flows from (used for) financing activities:
	$

Net cash flow from financing activities
		$
Cash balance, January 1, 20Y9
Cash balance, December 31, 20Y9		$

business accounting

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Answer 1

Answer #1

BC $ 71,430 $ $ 7,800 17,940 $ $ $ $ -7,760 -9,210 10,400 4,750 Merrick Equipment Co. Statement of Cash Flows For the Year En

Merrick Equipment Co. Statement of Cash Flows For the Year Ended December 31, 2049 4 Cash flows from (used for) operating act

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Answer 2

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