FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question
Statement of
The comparative
Dec. 31, 20Y9 | Dec. 31, 20Y8 | ||||
Assets | |||||
Cash | $239,460 | $223,010 | |||
86,750 | 80,100 | ||||
Inventories | 244,880 | 237,150 | |||
Investments | 0 | 91,870 | |||
Land | 125,600 | 0 | |||
Equipment | 270,190 | 209,660 | |||
(63,250) | (56,540) | ||||
Total assets | $903,630 | $785,250 | |||
Liabilities and |
|||||
Accounts payable | $163,560 | $154,690 | |||
Accrued expenses payable | 16,270 | 20,420 | |||
Dividends payable | 9,040 | 7,070 | |||
Common stock, $10 par | 48,800 | 38,480 | |||
Paid-in capital: Excess of issue price over par-common stock | 183,440 | 106,790 | |||
482,520 | 457,800 | ||||
Total liabilities and stockholders’ equity | $903,630 | $785,250 |
Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows:
- Equipment and land were acquired for cash.
- There were no disposals of equipment during the year.
- The investments were sold for $82,680 cash.
- The common stock was issued for cash.
- There was a $61,630 credit to Retained Earnings for net income.
- There was a $36,910 debit to Retained Earnings for cash dividends declared.
Required:
Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Use the minus sign to indicate
Merrick Equipment Co. | ||
Statement of Cash Flows | ||
For the Year Ended December 31, 20Y9 | ||
Cash flows from operating activities: | ||
$fill in the blank 2 | ||
Adjustments to reconcile net income to net cash flow from operating activities: | ||
fill in the blank 4 | ||
fill in the blank 6 | ||
Changes in current operating assets and liabilities: | ||
fill in the blank 8 | ||
fill in the blank 10 | ||
fill in the blank 12 | ||
fill in the blank 14 | ||
Net cash flow from operating activities | $fill in the blank 15 | |
Cash flows from (used for) investing activities: | ||
$fill in the blank 17 | ||
fill in the blank 19 | ||
fill in the blank 21 | ||
Net cash flow used for investing activities | fill in the blank 22 | |
Cash flows from (used for) financing activities: | ||
fill in the blank 24 | ||
fill in the blank 26 | ||
Net cash flow from financing activities | fill in the blank 27 | |
$fill in the blank 29 | ||
Cash at the beginning of the year | fill in the blank 30 | |
Cash at the end of the year | $fill in the blank 31 |
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