Homework Answers
SAFFORDVILLE COMPANY
Statement of Cash Flows for the year ended 2017
| Cash Flow Statement | (Amount in dollars) | |
| Net Income | 112660 | |
| Add: Non Cash non Operating expenses | 30500 | |
| Interest | 2940 | |
| Less: Non Cash Non Operating Income | ||
| Gain on Sale | -5000 | |
| Changes in Working Capital | ||
| Account Payable | 9420 | (57700-48280) |
| Accrued Expenses | -3730 | (15100-18830) |
| Account Receivable | -23800 | (60800-37000) |
| Inventory | -24250 | (126900-102650) |
| Cash Flow from Operations (A) | 98740 | |
| Cash Flow from Investing Activities | ||
| Purchase of equipment | -146000 | |
| Sale of equipment | 15000 | |
| Sale of investment | 27500 | |
| Cash flow from Investing Activities (B) | -103500 | |
| Cash Flow from Finaning Activities | ||
| Dividend Paid | -48000 | |
| Issue of bonds | 75000 | (145000-70000) |
| Interest expense | -2940 | |
| Issue of Common Stock | 50000 | (250000-200000) |
| Cash Flow from Finaning Activities ( C) | 74060 | |
| Net Increase in cash and cash equivalents | 69300 | |
| (A+B+C) | ||
| Add: Opening Cash balance | 33400 | |
| Closing Cash and Cash equivalents | 102700 |
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P13-9Bn. Condensed financial data of Saffordville Company are shown below....
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Problem 12-12A
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below.
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presented below.
Additional information:
During the year, $70 of common stock was issued in exchange for
plant assets. No plant assets were sold in 2017.
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