Debits > Credits by: Credits > Debits by: $ 17,000 Cash and cash equivalents . Accounts receivable .. Inventory ..... Prepaid expenses Long-term loans to subsidiaries Long-term investments Plant and equipment ...... 110,000 $ 65,000 8,000 30,000 80.000 220,000 Accumulated depreciation 5,000 Accounts payable... Accrued liobilities . Income taxes peyable Bonds payable 32,000 9,000 16,000 ..... 400,000 Common stock 170,000 Retained earnings $606,000 50.000 $606,000 Beginning Ending Plant and equipment .... Accumulated depreciation $1,580,000 $675,000 $1,800,000 $680,000
Missing Data; Statement of
Yoric Company listed the net changes in its balance sheet accounts for the past year as follows:
The following additional information is available about last year’s activities:
a. Net income for the year was $ ?
b. The company sold equipment during the year for $15,000. The equipment originally cost $50,000 and it had $37,000 in accumulated depreciation at the time of sale.
c. Cash dividends of $20,000 were declared and paid during the year.
d. The beginning and ending balances in the Plant and Equipment and Accumulated Depreciation accounts are given below:
e. The balance in the Cash account at the beginning of the year was $23,000; the balance at the end of the year was $ ?
f. If data are not given explaining the change in an account, make the most reasonable assumption as to the cause of the change.
Required:
Using the indirect method, prepare a statement of cash flows for the year.
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