An analysis of comparative balance sheets, the current year’s
income statement, and the general ledger accounts of Wellman Corp.
uncovered the following items. Assume all items involve cash unless
there is information to the contrary.
Indicate how each item should be classified in the statement of
cash flows using these four major classifications: operating
activity (indirect method), investing activity, financing activity,
and significant noncash investing and financing activity.
please include all answers and calculations. thank you
Homework Answers
|
Activity |
Classification |
|
(a) |
Operating activity |
|
(b) |
Significant Noncash Investing and Financing activity |
|
(c ) |
Investing activity |
|
(d) |
Financing activity |
|
(e ) |
Operating activity |
|
(f) |
Investing activity |
|
(g) |
Operating activity |
|
(h) |
Financing activity |
|
(i) |
Operating activity |
|
(j) |
Significant Noncash Investing and Financing activity |
|
(k) |
Investing activity |
|
(l) |
Significant Noncash Investing and Financing activity |
|
(m) |
Operating activity |
|
(n) |
Financing activity |
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Additional information from the accounting records of Metagrobolize
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METAGROBOLIZE INDUSTRIES
Comparative Balance Sheets
December 31, 2018 and 2017
($ in 000s)
2018
2017
Assets
Cash
$
560
$
370
Accounts receivable
710
370
Inventory
860
440
Land
700
670
Building
900
900
Less: Accumulated depreciation
(200
)
(160
)
Equipment
3,400
3,230
Less: Accumulated depreciation
(343
)...
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cash flows (indirect method), using these categories: (1) operating
activity (added to net income), (2) operating activity (deducted
from net income), (3) investing activity, (4) financing activity,
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Comparative balance sheets for 2018 and 2017 and a statement of
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Additional information from the accounting records of Metagrobolize
also is provided.
METAGROBOLIZE INDUSTRIES
Comparative Balance Sheets
December 31, 2018 and 2017
($ in 000s)
2018
2017
Assets
Cash
$
560
$
370
Accounts receivable
710
370
Inventory
860
440
Land
700
670
Building
900
900
Less: Accumulated depreciation
(200
)
(160
)
Equipment
3,400
3,230
Less: Accumulated depreciation
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