Question

Selected financial statement information and additional data for Stanislaus Co. is presented below 2017 $64,200 143,800 Cash Accounts receivable (net) Inventory Land Equipment TOTAL 2016 $41,610 85,190 168,040 55,130 508,180 $858,150 203,770 18,620 791,360 $1,221,750 $81,340 $113,560 Accumulated depreciation Accounts payable Notes payable - short-term 85,250 50,590 66,800 29,460 295,610 Notes payable - long-term Common stock Retained earnings TOTAL 165,010 420,810 73,600 $858,150 490,040 207,830 $1,221,750 Additional data for 2017: 1 Net income was $215,770. 2 Depreciation was $32,220. 3 Land was sold at its original cost. 4 Dividends of $81,540 were paid. 5 Equipment was purchased for $83,350 cash. 6 A long-term note for $199,830 was used to pay for an equipment purchase. 7 Common stock was issued to pay a $69,230 long-term note payable. Required: Prepare a statement of cash flows for the year ending December 31, 2017

			STATEMENT OF CASH FLOWS FOR 2017
Cash Flow from Operating Activities
Cash Flow from Investing Activities
Cash Flow from Financing Activities
Net Increase in Cash
Beginning Cash Balance
Ending Cash Balance

Answer 1

L21 L M N O P Q R S Amount ($) Amount 2,15,770.00 Equipment Account Particulars Amount particulars Opening Balance 508180 cash A/C 83350 Long term Note 199830 Closing Balance Total 791360 Total 32,220.00 791360 791360 Cash Flow Statement Particulars Cash Flow from Operating Assets Net Income Adjustment to reconcile net income to cash provided in activities Depreciation Loss on sale of investing asset Changes in assets and Liabilities Add: Increase on current Liabilities and Decrease in current assets Accounts Payable Less: Decrease on current Liabilities and Increase in current assets Increase in Accounts receivable Inventory Notes Payable Net Cash provided by operating activities 34,660.00 Accumulated Depreciation Account Particulars Amount particulars Amount Opening Balance 81340 Depreciation for th32220 Closing Balance 113560 Total 113560 Total 113560 -58,610.00 -35,730.00 -37,340.00 1,50,970.00 Cash Flow From Investing Assets Purchase of equipment Sale of Land Net cash used in Investing Activities -83,350.00 36,510.00 -46,840.00 Sheet1 Cash Flow From Financing Activities Sheet2 Ready -- + 100%

B C D E F G H I M N . P a R S A Cash Flow From Investing Assets Purchase of equipment Sale of Land Net cash used in Investing Activities -83,350.00 36,510.00 -46,840.00 Cash Flow From Financing Activities Payment of Cash Dividends Net Cash Used in financing activities -81,540.00 -81,540.00 Net Income Increase or decrease in cash equivalents cash at the beginning of the year cash at the end of the year 22,590.00 41,610.00 64,200.00 Sheet1 Sheet2 Ready @ - - + 100%