FUND.ACCT.PRIN.
25th Edition
ISBN: 9781260247985
Author: Wild
Publisher: RENT MCG
expand_more
expand_more
format_list_bulleted
Videos
Textbook Question
Chapter 16, Problem 8PSB
Problem 16-8BBDirect: Statement of
Refer to Satu Company's financial statements and related information in Problem 16-6B. Required
Prepare a complete statement of cash flows using the direct method for the current year.
Check Cash provided by financing activities. $3,000
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
5
Required information
Exercise 12-10A (Algo) Determining cash flows from investing activities LO 12-3
[The following information applies to the questions displayed below.]
The following accounts and corresponding balances were drawn from Delsey Company's Year 2 and Year 1 year-end
balance sheets:
Account Title
Investment securities
Machinery
Land
Year 2
$ 103,400
521,300
145, 100
Year 1
$ 114,400
425, 100
91,800
Other information drawn from the accounting records:
1. Delsey incurred a $1,330 loss on the sale of investment securities during Year 2.
2. Old machinery with a book value of $4,130 (cost of $25,010 minus accumulated depreciation of $20,880) was sold. The
income statement showed a gain on the sale of machinery of $4,980,
3. Delsey did not sell land during the year.
Section V: SCF Question 3
Identify the following sections of the McDonald's SCF and record the amounts. Check
the math by summing to the cash balance at end of year. Verify that the ending cash
balance reported on the SCF is the same as reported on the balance sheet for the current
year,
Section
Current
Prior Year
Second
Prior Year
Year
Cash provided by operations?
Click here to
Click here to
Click here to
enter text.
enter text.
enter text.
Cash used for investing activities?
Click here to
Click here to
Click here to
enter text.
enter text.
enter text.
Cash used for financing activities?
Click here to
Click here to
Click here to
enter text.
enter text.
enter text.
Cash and equivalents balance at end of
year?
Click here to
Click here to
Click here to
enter text.
enter text.
enter text.
D Focus
lish (United States)
MC Qu. 12-124 The net cash flow provided by..
The net cash flow provided by operating activitles is an Inflow of $37,042, the net cash flow used in Investing
activities is $16,831, and the net cash flow used in financing activities is $26,397. If the beginning cash account
balance is $11,283, what is the ending cash account balance?
Multiple Choice
$27.476
($6.186)
$38,759
$5,097
Chapter 16 Solutions
FUND.ACCT.PRIN.
Ch. 16 - Transaction classification by activity C1 Classify...Ch. 16 - Prob. 2QSCh. 16 - QS 16-3 Indirect: Computing cash flows from...Ch. 16 - QS 16-4 Indirect: Computing cash flows from...Ch. 16 - QS 16-5 Indirect: Computing cash flows from...Ch. 16 - QS 16-6 Indirect: Computing cash from operations...Ch. 16 - QS 16-7 Indirect: Computing cash from operations...Ch. 16 - QS 16-8 Computing cash from asset sales P3
The...Ch. 16 - Prob. 9QSCh. 16 - QS 16-10 Computing investing cash flows P3
The...
Ch. 16 - QS 16-11 Computing investing cash flows P3
Refer...Ch. 16 - Computing cash flows flow investing P3 Compute...Ch. 16 - QS 16-13 Computing cash from asset sales P3 Q...Ch. 16 - QS 16-14 Computing financing cash flows...Ch. 16 - Prob. 15QSCh. 16 - Prob. 16QSCh. 16 - Prob. 17QSCh. 16 - QS 16-18 Indirect: Preparing statement of cash...Ch. 16 - Ma rice la Yahtzee Cluedu
Cash provided (used) by...Ch. 16 - QS 16-20A Recording entries in a spreadsheet P4
A...Ch. 16 - QS 16-21B Direct: Computing cash receipts from...Ch. 16 - QS 16-22B Direct: Computing cash payments to...Ch. 16 - QS 16-23B Direct: Computing cash paid for...Ch. 16 - Prob. 24QSCh. 16 - Prob. 25QSCh. 16 - Prob. 26QSCh. 16 - Prob. 27QSCh. 16 - Prob. 28QSCh. 16 - Prob. 1ECh. 16 - Prob. 2ECh. 16 - Exercise 16-3
Indirect: Reporting and interpreting...Ch. 16 - Exercise 16-4 Indirect: Cash flows from operating...Ch. 16 - Exercise 16-5 Indirect: Cash flows from operating...Ch. 16 - Exercise 16-6 Indirect: Cash flows from operating...Ch. 16 - Exercise 16-7 Indirect: Reporting cash flows from...Ch. 16 - Prob. 8ECh. 16 - Exercise 16-8
Cash flows from financing...Ch. 16 - Exercise 16-10 Reconstructed entries P3
For each...Ch. 16 - Exercise 16-11 Indirect: Preparing statement of...Ch. 16 - Exercise 16-12 Indirect: Preparing statement of...Ch. 16 - Exercise 16-13 Analyzing cash flow on total assets...Ch. 16 - Exercise 16-14A Indirect: Cash flows spreadsheet...Ch. 16 - Exercise 16-14
Direct Cash flow...Ch. 16 - Exercise 16-16BDirect: Computing cash flows P5 For...Ch. 16 - Exercise 16-17B Direct: Preparing statement of...Ch. 16 - Prob. 18ECh. 16 - Prob. 19ECh. 16 - Prob. 20ECh. 16 - Prob. 21ECh. 16 - Prob. 1PSACh. 16 - Prob. 2PSACh. 16 - Prob. 3PSACh. 16 - Prob. 4PSACh. 16 - Prob. 5PSACh. 16 - Prob. 6PSACh. 16 - Prob. 7PSACh. 16 - Prob. 8PSACh. 16 - Problem 16-1B Indirect Computing cash flows from...Ch. 16 - Prob. 2PSBCh. 16 - Prob. 3PSBCh. 16 - Prob. 4PSBCh. 16 - Prob. 5PSBCh. 16 - Prob. 6PSBCh. 16 - Prob. 7PSBCh. 16 - Problem 16-8BBDirect: Statement of cash flows P5...Ch. 16 - Prob. 16SPCh. 16 - Prob. 1AACh. 16 - Prob. 2AACh. 16 - Prob. 3AACh. 16 - Prob. 1DQCh. 16 - Prob. 2DQCh. 16 - What are some financing activities reported on the...Ch. 16 - Prob. 4DQCh. 16 - Prob. 5DQCh. 16 - Prob. 6DQCh. 16 - Prob. 7DQCh. 16 - Prob. 8DQCh. 16 - Prob. 9DQCh. 16 - Prob. 10DQCh. 16 - Prob. 11DQCh. 16 - Prob. 1BTNCh. 16 - Prob. 2BTNCh. 16 - BTN 16-3 Access the April 14. 2016. filing of the...Ch. 16 - BTN 16-6 Team members are to coordinate and...Ch. 16 - Prob. 5BTN
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- Financial data for Otto Company follow: a. Compute the ratio of cash to monthly cash expenses. b. Interpret the results computed in (a).arrow_forwardExercise 16-21B (Algo) Direct: Preparing statement of cash flows and supporting note LO P5 Cash and cash equivalents, December 31 prior year-end Cash and cash equivalents, December 31 current year-end Cash received as interest Cash paid for salaries Bonds payable retired by Issuing common stock (no gain or loss on retirement) Cash paid to retire long-term notes payable Cash received from sale of equipment Land purchased by issuing long-term notes payable Cash paid for store equipment Cash dividends paid Cash paid for other expenses Cash received from customers Cash paid for inventory $ 10,000 28,120 1,000 29,000 115,000 50,000 24, 500 66, 700 9,500 6,000 16,000 194,000 100,880 Use the above information about Ferron Company to prepare a complete statement of cash flows (direct method) for the current year ended December 31. Use a note disclosure for any noncash investing and financing activities. (Amounts to be deducted should be indicated with o minus sign.) FERRON COMPANY Statement of…arrow_forwardExercise 12-5A (Algo) Use the direct method to determine cash flows from operating activities LO 12-2 The following accounts and corresponding balances were drawn from Marinelli Company's Year 2 and Year 1 year-end balance sheets. Year 2 Year 1 $48,200 $39,600 Account Title Accounts receivable Interest receivable Other operating expenses payable Salaries payable The Year 2 income statement is shown next. Income Statement Sales Salary expense. Other operating expenses Operating income Nonoperating items: Interest revenue Net income 4,800 29,900 11,850 a. Cash inflows from operating activities b. Cash outflows from operating activities 6,850 20,900 16,150 $760,000. (169,500) (268,500) 322,000 23,500 $345,500 Required a. Use the direct method to compute the amount of cash inflows from operating activities. b. Use the direct method to compute the amount of cash outflows from operating activities.arrow_forward
- TEST III: Prepare the cash position report of ABC's Company with complete headings as of June 16, 20 provided the following transactions was incurred on each bank account: PREPARE CASH POSITION IN CONSOLIDATED FORMAT PARTICULARS Bal. As of 6.15.2000 Collections of loans: OR# 0001 OR# 0002 OR# 0003 OR# 0004 Passbook Fees OR# 0005 Receipt of fund from Funding Agency Loan Releases: CV# 0001 CV# 0002 CV# 0003 CV# 0004 Payment Utilities CV# 0005 LAND BANK 5,000.00 250.00 650.00 150.00 150.00 375.00 25,000.00 10,000.00 35,000.00 875.0 SOLID BANK 2,500.00 250.00 50,000,00 UCPB 1,000.00 PNB 5,000.00 Iarrow_forwardProblem 10-2 (IAA) Star Company provided the following data for the preparation of statement of cash flows for the current year: Cash balance, beginning Cash paid to purchase inventory. 1,500,000 7,800,000 2,500,000 Cash received from sale of trading securities Cash paid for interest-on bank loan 450,000 1,000,000 Cash paid to repay principal amount of bank loan Cash collected from customers 10,000,000 1,200,000 Cash received from issuance of ordinary shares Cash paid for dividend 2,000,000 Cash paid for income taxes 1,350,000 Cash paid to purchase trading securities 1,000,000arrow_forwardExercise 12-12 (Algo) Indirect: Preparing statement of cash flows LO P2, P3, A1 Skip to question [The following information applies to the questions displayed below.] The following financial statements and additional information are reported. IKIBAN INCORPORATED Comparative Balance Sheets At June 30 2021 2020 Assets Cash $ 97,900 $ 60,000 Accounts receivable, net 89,000 67,000 Inventory 79,800 110,500 Prepaid expenses 6,000 8,600 Total current assets 272,700 246,100 Equipment 140,000 131,000 Accumulated depreciation—Equipment (35,000) (17,000) Total assets $ 377,700 $ 360,100 Liabilities and Equity Accounts payable $ 41,000 $ 54,000 Wages payable 7,600 18,200 Income taxes payable 5,000 7,000 Total current liabilities 53,600 79,200 Notes payable (long term) 46,000 76,000 Total liabilities 99,600 155,200 Equity Common stock, $5 par value 252,000 176,000 Retained earnings 26,100 28,900 Total liabilities and equity $ 377,700 $…arrow_forward
- EX. 16-2 Effect of Trasactions on Cash Flows State the effect (cash receipt or payment and amount) of each of the following transactions, considered individually, on cash flows: a.Retired $400,000 of bonds, on which there was $3,000 of unamortized discount, for $411,000.arrow_forwardQS 16-17 (Algo) Computing financing cash outflows LO P3 A comparative balance sheet and income statement is shown for Cruz, Incorporated. CRUZ, INCORPORATED Comparative Balance Sheets At December 31 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accumulated depreciation-Furniture Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable ces Total current liabilities Notes payable (long-term) Total liabilities Equity 2021 2020 $ 72,900 31,300 $ 18,100 38,400 65,600 72,100 4,000 3,300 131,900 173,800 80,600 (12,500) $ 241,900 $ 11,400 93,500 (7,100) $ 218,300 $ 16,100 6,800 3,800 1,200 2,100 19,400 22,000 24,800 55,800 44,200 77,800 170,300 27,400 134,800 5,700 Total liabilities and equity $ 241,900 $ 218,300 CRUZ, INCORPORATED Income Statement Common stock, $5 par value Retained earnings For Year Ended December 31, 2021 $ 373,800 240,600 Sales Cost of goods sold Gross profit Operating expenses (excluding…arrow_forwardPARNELL COMPANY Income Statement For the Year Ended December 31, 2021 ($ in thousands) Revenues and gains: Sales $890 11 $901 Gain on sale of building Expenses and loss: Cost of goods sold Salaries $ 345 129 53 Insurance 132 Depreciation Interest expense Loss on sale of equipment 59 13 731 170 Income before tax 85 Income tax expense $ 85 Net income PARNELL COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2021 and 2020 ($ in thousands) Year Change $ 61 2021 2020 Cash 152 91 Accounts receivable Inventory 342 207 135 312 57 228 120 78 181 (131) (49) 120 36 17 (37) 443 Prepaid insurance Accounts payable Salaries payable Deferred tax liability Bond discount 106 108 84 61 218arrow_forward
- Calculate cash balances based on the information provided in the chart below and show me how you did it Pro Forma Cash Flow Cash Received Cash from Operations Cash Sales $24,198 $100,099 $122,460 Cash from Receivables $46,108 $217,218 $342,905 Subtotal Cash from Operations $70,306 $317,317 $465,366 Additional Cash Received Sales Tax, VAT, HST/GST Received $0 $0 $0 New Current Borrowing $0 $0 $0 New Other Liabilities (interest-free) $0 $0 $0 New Long-term Liabilities $0 $40,000 $0 Sales of Other Current Assets $0 $0 $0 Sales of Long-term Assets $0 $0 $0 New Investment Received $0 $0 $0 Subtotal Cash Received $70,306 $357,317 $465,366 Expenditures Year 1 Year 2 Year 3 Expenditures from Operations Cash Spending $167,000 $225,200 $229,200 Bill Payments $75,294 $124,114 $152,785 Subtotal Spent on Operations $242,294 $349,314 $381,985 Additional Cash Spent Sales Tax,…arrow_forward3 ook rences Exercise 16-21B (Algo) Direct: Preparing statement of cash flows and supporting note LO P5 Cash and cash equivalents, December 31 prior year-end Cash and cash equivalents, December 31 current year-end Cash received as interest Cash paid for salaries Bonds payable retired by issuing common stock (no gain or loss on retirement) Cash paid to retire long-term notes payable Cash received from sale of equipment Land purchased by issuing long-term notes payable Cash paid for store equipment Cash dividends paid Cash paid for other expenses Cash received from customers Cash paid for inventory FERRON COMPANY Statement of Cash Flows For Year Ended December 31 Use the above information about Ferron Company to prepare a complete statement of cash flows (direct method) for the current year ended December 31. Use a note disclosure for any noncash investing and financing activities. Note: Amounts to be deducted should be indicated with a minus sign. Cash flows from operating activities $…arrow_forwardFree Cash Flow Kat Co. reports the following financial data for the current year: Cash flow from operating activities Cash flow from investing activities Cash flow from financing activities Cash disbursed for capital expenditures Compute Kat's free cash flow. Free cash flow S 17175 x Check $21,500 (10,555) 4,250 (4,325)arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
College Accounting (Book Only): A Career ApproachAccountingISBN:9781337280570Author:Scott, Cathy J.Publisher:South-Western College Pub
Financial Accounting: The Impact on Decision Make...AccountingISBN:9781305654174Author:Gary A. Porter, Curtis L. NortonPublisher:Cengage Learning
Intermediate Accounting: Reporting And AnalysisAccountingISBN:9781337788281Author:James M. Wahlen, Jefferson P. Jones, Donald PagachPublisher:Cengage Learning
Financial AccountingAccountingISBN:9781337272124Author:Carl Warren, James M. Reeve, Jonathan DuchacPublisher:Cengage Learning
College Accounting (Book Only): A Career Approach
Accounting
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:South-Western College Pub
Financial Accounting: The Impact on Decision Make...
Accounting
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Cengage Learning
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:Cengage Learning
Financial Accounting
Accounting
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Cengage Learning
IAS 29 Financial Reporting in Hyperinflationary Economies: Summary 2021; Author: Silvia of CPDbox;https://www.youtube.com/watch?v=55luVuTYLY8;License: Standard Youtube License