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E13.15 Prepare a worksheet Comparative balance sheets for International Company are presented as follows. International Company Comparative Balance Sheets December 31 2022 2021 Assets Cash $ 2$ 73,000 85,000 180,000 75,000 250,000 (66,000) 2$ 22,000 76,000 189,000 100,000 200,000 Accounts receivable Inventory Land Equipment Accumulated depreciation - Equipment Total (42,000) 597,000 2$ 545,000 Liabilities and Stockholders' Equity Accounts payable Bonds Payable Common stock ($1 par) Retained earnings Total 2$ 34,000 150,000 214,000 199,000 $ 2$ 47,000 200,000 164,000 134,000 $ 597,000 545,000 Additional information: 1. Net income for 2022 was $135,000 2. Cash dividends of $70,000 was declared and paid. 3. Bonds payable amounting to $50,000 were redeemed for cash $50,000. 4. Common stock was issued for $50,000 cash 5. Depreciation expense was $24,000. 6. Sales revenue for the year was $978,000. 7. Land was sold at cost, and equipment was purchased for cash. Instructions Prepare a worksheet for a statement of cash flows for 2022 using the indirect method. Enter the reconciling items directly on the worksheet, using letters to cross-reference each entry. NOTE: Enter a formula, a cell reference, or a value (if you are unable to reference a cell), into the yellow shaded input cells.

E13.15 Prepare a worksheet Comparative balance sheets for International Company are presented as follows. International Company Comparative Balance Sheets December 31 2022 2021 Assets Cash $ 2$ 73,000 85,000 180,000 75,000 250,000 (66,000) 2$ 22,000 76,000 189,000 100,000 200,000 Accounts receivable Inventory Land Equipment Accumulated depreciation - Equipment Total (42,000) 597,000 2$ 545,000 Liabilities and Stockholders' Equity Accounts payable Bonds Payable Common stock ($1 par) Retained earnings Total 2$ 34,000 150,000 214,000 199,000 $ 2$ 47,000 200,000 164,000 134,000 $ 597,000 545,000 Additional information: 1. Net income for 2022 was $135,000 2. Cash dividends of $70,000 was declared and paid. 3. Bonds payable amounting to $50,000 were redeemed for cash $50,000. 4. Common stock was issued for $50,000 cash 5. Depreciation expense was $24,000. 6. Sales revenue for the year was $978,000. 7. Land was sold at cost, and equipment was purchased for cash. Instructions Prepare a worksheet for a statement of cash flows for 2022 using the indirect method. Enter the reconciling items directly on the worksheet, using letters to cross-reference each entry. NOTE: Enter a formula, a cell reference, or a value (if you are unable to reference a cell), into the yellow shaded input cells.

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter9: Metric-analysis Of Financial Statements
Section: Chapter Questions
Problem 9.4.10P: Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of...
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E13.15 Prepare a worksheet Comparative balance sheets for International Company are presented as follows. International Company Comparative Balance Sheets December 31 2022 2021 Assets 73,000 85,000 180,000 75,000 250,000 (66,000) 2$ Cash $ $ 22,000 76,000 Accounts receivable Inventory Land 189,000 100,000 Equipment Accumulated depreciation - Equipment 200,000 (42,000) $ 545,000 Total 597,000 Liabilities and Stockholders' Equity Accounts payable Bonds Payable Common stock ($1 par) Retained earnings $ 2$ 34,000 150,000 214,000 199,000 $ 47,000 200,000 164,000 134,000 Total 597,000 $ 545,000 Additional information: 1. Net income for 2022 was $135,000 2. Cash dividends of $70,000 was declared and paid. 3. Bonds payable amounting to $50,000 were redeemed for cash $50,000. 4. Common stock was issued for $50,000 cash 5. Depreciation expense was $24,000. 6. Sales revenue for the year was $978,000. 7. Land was sold at cost, and equipment was purchased for cash. Instructions Prepare a worksheet for a statement of cash flows for 2022 using the indirect method. Enter the reconciling items directly on the worksheet, using letters to cross-reference each entry. NOTE: Enter a formula, a cell reference, or a value (if you are unable to reference a cell), into the yellow shaded input cells.
Transcribed Image Text:E13.15 Prepare a worksheet Comparative balance sheets for International Company are presented as follows. International Company Comparative Balance Sheets December 31 2022 2021 Assets 73,000 85,000 180,000 75,000 250,000 (66,000) 2$ Cash $ $ 22,000 76,000 Accounts receivable Inventory Land 189,000 100,000 Equipment Accumulated depreciation - Equipment 200,000 (42,000) $ 545,000 Total 597,000 Liabilities and Stockholders' Equity Accounts payable Bonds Payable Common stock ($1 par) Retained earnings $ 2$ 34,000 150,000 214,000 199,000 $ 47,000 200,000 164,000 134,000 Total 597,000 $ 545,000 Additional information: 1. Net income for 2022 was $135,000 2. Cash dividends of $70,000 was declared and paid. 3. Bonds payable amounting to $50,000 were redeemed for cash $50,000. 4. Common stock was issued for $50,000 cash 5. Depreciation expense was $24,000. 6. Sales revenue for the year was $978,000. 7. Land was sold at cost, and equipment was purchased for cash. Instructions Prepare a worksheet for a statement of cash flows for 2022 using the indirect method. Enter the reconciling items directly on the worksheet, using letters to cross-reference each entry. NOTE: Enter a formula, a cell reference, or a value (if you are unable to reference a cell), into the yellow shaded input cells.
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