Statement of Cash Flows—Indirect Method
The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is shown as follows:
Dec. 31, 20Y3 | Dec. 31, 20Y2 | ||||
Assets | |||||
Cash | $253,630 | $237,840 | |||
Accounts receivable (net) | 91,880 | 85,420 | |||
Inventories | 259,370 | 252,910 | |||
Investments | 0 | 97,980 | |||
Land | 133,030 | 0 | |||
Equipment | 286,170 | 223,600 | |||
Accumulated depreciation—equipment | (67,000) | (60,300) | |||
Total assets | $957,080 | $837,450 | |||
Liabilities and Stockholders' Equity | |||||
Accounts payable (merchandise creditors) | $173,230 | $164,980 | |||
Accrued expenses payable (operating expenses) | 17,230 | 21,770 | |||
Dividends payable | 9,570 | 7,540 | |||
Common stock, $10 par | 51,680 | 41,040 | |||
Paid-in capital: Excess of issue price over par-common stock | 194,290 | 113,890 | |||
Retained earnings | 511,080 | 488,230 | |||
Total liabilities and stockholders’ equity | $957,080 | $837,450 |
Additional data obtained from an examination of the accounts in the ledger for 20Y3 are as follows:
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 out flows, cash payments, decreases in cash, or any negative adjustments.
Livers Inc. | ||
Statement of Cash Flows | ||
For the Year Ended December 31, 20Y3 | ||
Cash flows from operating activities: | ||
Net income | $ | |
Adjustments to reconcile net income to net cash flow from operating activities: | ||
Depreciation | ||
Gain on sale of investments | ||
Changes in current operating assets and liabilities: | ||
Increase in accounts receivable | ||
Increase in inventories | ||
Increase in accounts payable | ||
Decrease in accrued expenses payable | ||
Net cash flow from operating activities | $ | |
Cash flows from investing activities: | ||
Cash received from sale of investments | $ | |
Cash paid for purchase of land | ||
Cash paid for purchase of equipment | ||
Net cash flow used for investing activities | ||
Cash flows from financing activities: | ||
Cash received from sale of common stock | $ | |
Cash paid for dividends | ||
Net cash flow from financing activities | ||
Change in cash | $ | |
Cash at the beginning of the year | ||
Cash at the end of the year | $ |
Statement of Cash Flows—Indirect Method The comparative balance sheet of Livers Inc. for December 31, 20Y3...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is shown as follows: Dec. 31, 20Y3 Dec. 31, 20Y2 Assets Cash $261,120 $243,460 Accounts receivable (net) 94,590 87,440 Inventories 267,040 258,890 Investments 0 100,300 Land 136,970 0 Equipment 294,620 228,890 Accumulated depreciation—equipment (68,980) (61,720) Total assets $985,360 $857,260 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $178,350 $168,880 Accrued expenses payable (operating expenses) 17,740 22,290 Dividends payable 9,850 7,720 Common stock,...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is shown as follows: Dec. 31, 20Y3 Dec. 31, 20Y2 Assets Cash $261,120 $243,460 Accounts receivable (net) 94,590 87,440 Inventories 267,040 258,890 Investments 0 100,300 Land 136,970 0 Equipment 294,620 228,890 Accumulated depreciation—equipment (68,980) (61,720) Total assets $985,360 $857,260 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $178,350 $168,880 Accrued expenses payable (operating expenses) 17,740 22,290 Dividends payable 9,850 7,720 Common stock,...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is shown as follows: Dec. 31, 20Y3 Dec. 31, 20Y2 Assets Cash $244,600 $230,160 Accounts receivable (net) 88,610 82,660 Inventories 250,140 244,740 Investments 0 94,820 Land 128,300 0 Equipment 275,980 216,380 Accumulated depreciation—equipment (64,610) (58,350) Total assets $923,020 $810,410 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $167,070 $159,650 Accrued expenses payable (operating expenses) 16,610 21,070 Dividends payable 9,230 7,290 Common stock,...
Statement of Cash Flows-Indirect Method The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is shown as follows: Dec. 31, 20Y3 Dec. 31, 20Y2 Assets Cash $260,120 $240,850 Accounts receivable (net) 94,230 86,500 Inventories 266,000 256,120 Investments 0 99,230 Land 136,440 0 Equipment 293,490 226,440 Accumulated depreciation-equipment (68,710) (61,060) Total assets $981,570 $848,080 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $177,660 $167,070 Accrued expenses payable (operating expenses) 17,670 22,050 Dividends payable 9,820 7,630 Common stock,...
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he comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is shown as follows: Dec. 31, 20Y3 Dec. 31, 20Y2 Assets Cash $270,970 $250,900 Accounts receivable (net) 98,160 90,110 Inventories 277,110 266,820 Investments 0 103,360 Land 142,130 0 Equipment 305,730 235,880 Accumulated depreciation—equipment (71,580) (63,610) Total assets $1,022,520 $883,460 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $185,080 $174,040 Accrued expenses payable (operating expenses) 18,410 22,970 Dividends payable 10,230 7,950 Common stock, $10 par 55,220 43,290 Paid-in...
Instructions The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is shown as follows: Dec. 31, 20Y3 Dec. 31, 20Y2 Assets 3 Cash $626,640.00 $585,760.00 Accounts receivable (net) 226,900.00 208,390.00 Inventories 641,350.00 616,130.00 Investments 0.00 239,300.00 Land 328,730.00 0.00 Equipment 705,940.00 Accumulated depreciation-equipment (166,970.00) 553,530.00 (148,000.00) $2,055,110.00 Total assets $2,362,590.00 Liabilities and Stockholders' Equity 12 Accounts payable (merchandise creditors) $425,140.00 $404,540.00 13 Accrued expenses payable (operating expenses) 42,020.00 52,750.00 Dividends payable 23,580.00 19,500.00 Common stock, $4...
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