Question text Statement of Cash Flows (Indirect Method) Use the
following information regarding the Hamilton Corporation...
Question text Statement of Cash Flows (Indirect Method) Use the
following information regarding the Hamilton Corporation to prepare
a statement of cash flows using the indirect method: Accounts
payable decrease $3,000 Accounts receivable increase 10,000 Wages
payable decrease 9,000 Amortization expense 19,000 Cash balance,
January 1 31,000 Cash balance, December 31 2,000 Cash paid as
dividends 6,000 Cash paid to purchase land 110,000 Cash paid to
retire bonds payable at par 65,000 Cash received from issuance of
common stock 45,000...
Use the following information of VPI Co. to prepare a statement
of cash flows for the...
Use the following information of VPI Co. to prepare a statement
of cash flows for the year ended December 31 using the
indirect method. (Amounts to be deducted should be
indicated by a minus sign.)
Cash balance at prior year-end
$
43,400
Gain on sale of machinery
$
2,850
Increase in inventory
8,400
Cash received from sale of machinery
11,200
Depreciation expense
7,400
Increase in accounts payable
3,200
Cash received from issuing stock
11,400
Net income
57,000
Cash paid for...
Statement of Cash Flows (Indirect method)
Particulars
Amount
Cash Flow from operating activities:
Net Income for...
Statement of Cash Flows (Indirect method)
Particulars
Amount
Cash Flow from operating activities:
Net Income for 2019
$58,850
Adjustments:
Gain on sale of land
($8,000)
Gain on sale of long term investment
($4,000)
Depreciation
$35,500
Amortization expense
$5,000
Increase in accounts receivable
($4,550)
Increase in Dividend receivable
($1,000)
Increase in Inventories
($7,000)
Decrease in Prepaid rent
$9,000
Increase in Prepaid Insurance
($1,200)
Increase in Office Supplies
($250)
Decrease in Accounts payable
($4,000)
Increase in Income tax payable
$1,000
Increase in...
Chapter 14: Classifying items on the
indirect statement of cash flows
Learning Objective 1, 2
Destiny...
Chapter 14: Classifying items on the
indirect statement of cash flows
Learning Objective 1, 2
Destiny Corporation is preparing its statement of cash flows by
the indirect method. Destiny has the following items for
you to consider in preparing the statement:
a. Increase in accounts payable
b. Payment of
dividends
c. Decrease in accrued liabilities
d. Issuance of common
stock
e. Gain on
sale of building
f. Loss on
sale of land
g. Depreciation expense
h. Increase in
merchandise inventory
i. Decrease in accounts
receivable
j. Purchase...
Statement of Cash Flows—Direct Method
The comparative balance sheet of Canace Products Inc. for
December 31,...
Statement of Cash Flows—Direct Method
The comparative balance sheet of Canace Products Inc. for
December 31, 20Y6 and 20Y5, is as follows:
Dec. 31, 20Y6
Dec. 31, 20Y5
Assets
Cash
$237,320
$220,260
Accounts receivable (net)
85,970
79,110
Inventories
242,710
234,210
Investments
0
90,740
Land
124,480
0
Equipment
267,770
207,070
Accumulated depreciation
(62,690)
(55,840)
Total assets
$895,560
$775,550
Liabilities and Stockholders'
Equity
Accounts payable (merchandise creditors)
$162,100
$152,780
Accrued expenses payable (operating expenses)
16,120
20,160
Dividends payable
8,960
6,980
Common stock,...
1.
Cash Flows from Operating Activities—Indirect Method
Staley Inc. reported the following data:
Net income
$283,600...
1.
Cash Flows from Operating Activities—Indirect Method
Staley Inc. reported the following data:
Net income
$283,600
Depreciation expense
61,800
Loss on disposal of equipment
25,900
Increase in accounts receivable
18,000
Increase in accounts payable
11,800
Prepare the Cash Flows from Operating Activities section of the
statement of cash flows, using the indirect method. Use the minus
sign to indicate cash outflows, cash payments, decreases in cash,
or any negative adjustments.
Staley Inc.
Statement of Cash Flows (partial)
Cash flows from...
The following is a statement of cash flows for the Tombstone
Company. Answer the questions about...
The following is a statement of cash flows for the Tombstone
Company. Answer the questions about this financial statement that
follow.
Tombstone Company
Statement of Cash Flows
For the Year Ended December 31, 2017
Cash flows from operating activities:
Net Income
34,682
Reconciliation items:
Increase in Accounts Receivable
(3,336)
Decrease in Merchandise Inventory
13,698
Increase in Accounts Payable
29,544
Decrease in Income Taxes Payable
(630)
Depreciation Expense
38,540
Loss on sale of plant assets...
Statement of Cash Flows—Indirect Method
The comparative balance sheet of Olson-Jones Industries Inc. for
December 31,...
Statement of Cash Flows—Indirect Method
The comparative balance sheet of Olson-Jones Industries Inc. for
December 31, 20Y2 and 20Y1, is as follows:
Dec. 31, 20Y2
Dec. 31, 20Y1
Assets
Cash
$115
$37
Accounts receivable (net)
65
47
Inventories
41
26
Land
94
104
Equipment
53
41
Accumulated depreciation-equipment
(14)
(7)
Total Assets
$354
$248
Liabilities and Stockholders'
Equity
Accounts payable (merchandise creditors)
$45
$37
Dividends payable
7
-
Common stock, $1 par
23
12
Paid-in capital: Excess of issue price...