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Selected changes in various corporate accounts during a fiscal
year are described below. By the
use of x’s, indicate the section of the statement of cash flows
(indirect or direct method) in which the change is reported.
Section of Statement of Cash Flows Operating Investing Financing Not Activities Activities Activities Reported 0. Merchandise Inventory-net increase ................. 1. Retained Earnings—debit for stock dividends distributed .... 2. Common Stock-credit for issuance at par for cash 3. Bonds Payable-debit for redemption of bonds...
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PR 16-1A Statement of cash flows-indirect method The comparative balance sheet of Flack Inc. for December 31, 2013 and 2012, is shown as follows: Dec 31, 2013 Dec 31, 2012 Assets Cash ........ $234,660 $219,720 Accounts receivable (net)........... ..... 85,440 78,360 Inventories .......... 240,660 231,420 Investments .... 90,000 Land 123,000 Equipment. 264,420 207,420 Accumulated depreciation--equipment ........... (62.400) (55,500) $885,780 $771,420 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) ................ $159,180 $151,860 Accrued expenses payable (operating expenses) ..... 15,840 19,740 Dividends...
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ASU Home My ASU Colleges & Schools Map& Organizations Help QUESTION 17 Which items below would result in net cash flow from operating activities being higher than net income? O Decrease in accounts payable and increase in prepaid expenses. O Decrease in accrued liabilities and increase in inventory. O Increase in accrued liabilities and increase in inventory. O Increase in accounts payable and decrease in accounts receivable. QUESTION 18 Which items below would result in net cash flow from operating...
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Statement of cash flows-indirect method PR 16-1A ow from ivities, The comparative balance sheet of Flack Inc. for December 31, 2013 and 2012, is shown as follows: Dec. 31, 2012 Dec. 31, 2013 Assets $219,720 $234,660 85,440 Cash 78,360 Accounts receivable (net) 231,420 240,660 Inventories ........ 90,000 Investments Land ... Equipment... Accumulated depreciation-equipment . 123,000 264,420 207,420 ...... (62,400) S885,780 (55,500) $771,420 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors).... Accrued expenses payable (operating expenses) Dividends payable.. Common stock, $1...
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Ch 16-3 Exercises and Problems Statement of Cash Flows-Indirect Method The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 20Y2 and 2001, is as follows: Dec. 31, 20Y2 Dec. 31, 2011 Assets $32 Cash Accounts receivable (net) Inventories Land Equipment Accumulated depreciation-equipment Total Assets (12) $298 $212 $38 $32 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Dividends payable Common stock, $1 par Paid-in capital: Excess of issue price over par common stock Retained earnings 189 Ch 16-3...
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Assets Cash Accounts receivable (net) Inventories Investments Land Equipment Accumulated depreciation-equipment $244,930$229,680 82,490 244,240 94,620 88,730 250,480 128,470 215,930 700)(58,230) $924,260 $808,730 276,350 Total assets Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Dividends payable Common stock, $10 par Paid-in capital: Excess of issue price over par-common stock Retained earnings $167,290 $159,320 21,030 7,280 39,630 109,990 471,480 $924,260 $808,730 16,640 9,240 49,910 187,620 493,560 Total liabilities and stockholders' equity Additional data obtained from an examination of the accounts in...
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Ch 16-3 Exercises and Problems eBook Show Me How Calculator Print Item Statement of Cash Flows-Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 2019 and 2088, is as follows: Dec 31, 2049 Dec. 31, 2018 Assets Cash $237,780 Accounts receivable (net) Inventories 86,140 243,170 $224,000 80,450 238,190 92,280 Investments Land Equipment Accumulated depreciation-equipment 124,720 268,290 (62,810) $897,290 210,590 (56,790) $788,720 Total assets Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Dividends payable $162,410 16,150...
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Sorry about that, hopefully these are clearer!
Required Information (The following information applies to the questions displayed below.) Golden Corps current year Income statement, comparative balance sheets, and additional Information follow. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of Inventory are on credit, (4) all debits to Accounts Payable reflect cash payments for Inventory. (5) Other Expenses are all cash expenses, and (6) any...
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Statement of Cash Flows-Indirect Method The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 2012 and 2041, is as follows: Dec. 31, 2012 Dec. 31, 2011 Assets Cash $183 o Accounts receivable (net) Inventories o Land 250 o on (68) $742 (42) $625 Equipment Accumulated depreciation equipment Total assets Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Dividends payable Common stock, $1 par Paid-in capital: Excess of issue price over par- common stock Retained earnings u un u...
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Financing Activities on the Statement of Cash Flows Takaki Inc. reported net income of $53,000 for 20Y7. The liability and equity accounts from the company's comparative balance sheet are as follows: Dec. 31, 2047 Dec. 31, 2016 Accounts payable $31,900 $28,400 Dividends payable 5,000 3,000 Common stock, $5 par value 80,000 75,000 Paid-in capital in excess of par-common stock 37,000 30,000 Retained earnings 130,600 81,600 During the year, the company declared dividends of $4,000 and issued 1,000 shares of common...
Selected changes in various corporate accounts during a fiscal
year are described below. By the
use of x’s, indicate the section of the statement of cash flows
(indirect or direct method) in which the change is reported.
Section of Statement of Cash Flows Operating Investing Financing Not Activities Activities Activities Reported 0. Merchandise Inventory-net increase ................. 1. Retained Earnings—debit for stock dividends distributed .... 2. Common Stock-credit for issuance at par for cash 3. Bonds Payable-debit for redemption of bonds...
PR 16-1A Statement of cash flows-indirect method The comparative balance sheet of Flack Inc. for December 31, 2013 and 2012, is shown as follows: Dec 31, 2013 Dec 31, 2012 Assets Cash ........ $234,660 $219,720 Accounts receivable (net)........... ..... 85,440 78,360 Inventories .......... 240,660 231,420 Investments .... 90,000 Land 123,000 Equipment. 264,420 207,420 Accumulated depreciation--equipment ........... (62.400) (55,500) $885,780 $771,420 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) ................ $159,180 $151,860 Accrued expenses payable (operating expenses) ..... 15,840 19,740 Dividends...
ASU Home My ASU Colleges & Schools Map& Organizations Help QUESTION 17 Which items below would result in net cash flow from operating activities being higher than net income? O Decrease in accounts payable and increase in prepaid expenses. O Decrease in accrued liabilities and increase in inventory. O Increase in accrued liabilities and increase in inventory. O Increase in accounts payable and decrease in accounts receivable. QUESTION 18 Which items below would result in net cash flow from operating...
Statement of cash flows-indirect method PR 16-1A ow from ivities, The comparative balance sheet of Flack Inc. for December 31, 2013 and 2012, is shown as follows: Dec. 31, 2012 Dec. 31, 2013 Assets $219,720 $234,660 85,440 Cash 78,360 Accounts receivable (net) 231,420 240,660 Inventories ........ 90,000 Investments Land ... Equipment... Accumulated depreciation-equipment . 123,000 264,420 207,420 ...... (62,400) S885,780 (55,500) $771,420 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors).... Accrued expenses payable (operating expenses) Dividends payable.. Common stock, $1...
Ch 16-3 Exercises and Problems Statement of Cash Flows-Indirect Method The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 20Y2 and 2001, is as follows: Dec. 31, 20Y2 Dec. 31, 2011 Assets $32 Cash Accounts receivable (net) Inventories Land Equipment Accumulated depreciation-equipment Total Assets (12) $298 $212 $38 $32 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Dividends payable Common stock, $1 par Paid-in capital: Excess of issue price over par common stock Retained earnings 189 Ch 16-3...
Assets Cash Accounts receivable (net) Inventories Investments Land Equipment Accumulated depreciation-equipment $244,930$229,680 82,490 244,240 94,620 88,730 250,480 128,470 215,930 700)(58,230) $924,260 $808,730 276,350 Total assets Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Dividends payable Common stock, $10 par Paid-in capital: Excess of issue price over par-common stock Retained earnings $167,290 $159,320 21,030 7,280 39,630 109,990 471,480 $924,260 $808,730 16,640 9,240 49,910 187,620 493,560 Total liabilities and stockholders' equity Additional data obtained from an examination of the accounts in...
Ch 16-3 Exercises and Problems eBook Show Me How Calculator Print Item Statement of Cash Flows-Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 2019 and 2088, is as follows: Dec 31, 2049 Dec. 31, 2018 Assets Cash $237,780 Accounts receivable (net) Inventories 86,140 243,170 $224,000 80,450 238,190 92,280 Investments Land Equipment Accumulated depreciation-equipment 124,720 268,290 (62,810) $897,290 210,590 (56,790) $788,720 Total assets Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Dividends payable $162,410 16,150...
Sorry about that, hopefully these are clearer!
Required Information (The following information applies to the questions displayed below.) Golden Corps current year Income statement, comparative balance sheets, and additional Information follow. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of Inventory are on credit, (4) all debits to Accounts Payable reflect cash payments for Inventory. (5) Other Expenses are all cash expenses, and (6) any...
Statement of Cash Flows-Indirect Method The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 2012 and 2041, is as follows: Dec. 31, 2012 Dec. 31, 2011 Assets Cash $183 o Accounts receivable (net) Inventories o Land 250 o on (68) $742 (42) $625 Equipment Accumulated depreciation equipment Total assets Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Dividends payable Common stock, $1 par Paid-in capital: Excess of issue price over par- common stock Retained earnings u un u...
Financing Activities on the Statement of Cash Flows Takaki Inc. reported net income of $53,000 for 20Y7. The liability and equity accounts from the company's comparative balance sheet are as follows: Dec. 31, 2047 Dec. 31, 2016 Accounts payable $31,900 $28,400 Dividends payable 5,000 3,000 Common stock, $5 par value 80,000 75,000 Paid-in capital in excess of par-common stock 37,000 30,000 Retained earnings 130,600 81,600 During the year, the company declared dividends of $4,000 and issued 1,000 shares of common...