Please answer complete D.H.Exercise 12The following information is available for Umbrella Corporation for the year ended December 31, 2021:Collection of principal on long term loan to a supplierAcquisition of equipment for cashProceeds from the redemption of long term investment at carrying valueIssue of common shares for cashDepreciation expenseRedemption of bonds payable at amortized costPayment of cash dividendsProfit40,00015,00027,00025,00025,00024,00014,00030,000Purchase of land by issuing bonds payable40,000In addition, the following information is available from the comparative balance sheet for Umbrella at the end of 2020 and 2021:2,021102,00020,00017.000139.0002,020CashAccounts receivable (net)Prepaid insuranceTotal current assets14,00015,00013.00042.000Accounts payableSalaries payableTotal current fiabilities25,0004,00029,00019,000700026.000InstructionsPrepare Umbrella's cash flow statement for the year ended December 31, 2021, using the indirect method.Solution 12 22-27 min.)

D. cise 12 Mollowing information is available for Umbrella Corporation for the year ended December 31, 2021: Collection of principal on long tem loan to a supplier Acquisition of equipment for cash Proceeds from the redemption of long term investment at carrying value Issue of common shares for cash Depreciation expense Redemption of bonds payable at amortized cost Payment of cash dividends 40,000 15,000 27,000 25,000 25,000 24,000 14,000 Profit 30,000 Purchase of land by issuing bonds payable 40,000 ddition, the following information is available from the comparative balance sheet for Umbrella at the end of 2020 and 2021: 2,020 2021 102,000 Cash Accounts receivable (net) Prepaid insurance Total curent assets 14,000 15,000 13.000 42000 20,000 A7.000 139.000 Accounts payable Salaries payable Total current fiabilities 25,000 4,000 29.000 19,000 7000 26.000 tructions pare Umbrella's cash flow statement for the year ended December 31, 2021, using the indirect method. ution 12 22-27 min)

D. cise 12 Mollowing information is available for Umbrella Corporation for the year ended December 31, 2021: Collection of principal on long tem loan to a supplier Acquisition of equipment for cash Proceeds from the redemption of long term investment at carrying value Issue of common shares for cash Depreciation expense Redemption of bonds payable at amortized cost Payment of cash dividends 40,000 15,000 27,000 25,000 25,000 24,000 14,000 Profit 30,000 Purchase of land by issuing bonds payable 40,000 ddition, the following information is available from the comparative balance sheet for Umbrella at the end of 2020 and 2021: 2,020 2021 102,000 Cash Accounts receivable (net) Prepaid insurance Total curent assets 14,000 15,000 13.000 42000 20,000 A7.000 139.000 Accounts payable Salaries payable Total current fiabilities 25,000 4,000 29.000 19,000 7000 26.000 tructions pare Umbrella's cash flow statement for the year ended December 31, 2021, using the indirect method. ution 12 22-27 min)

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter9: Long-term Liabilities

Section: Chapter Questions

Problem 103.4C

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