Make a Summary of USES and SOURCES of Cash, then make a CASH FLOW STATEMENT, given the Income Statements and Balance Sheets for 2012 and 2013 XYZ Company, Balance Sheet for 12/31/2012 and 12/31/2013. 20122013Cash$15,000$14,000Marketable Securities6,0006,200Accounts Receivable42,00033,000Inventory51,00084,000Prepaid Rent1,2001,100Total Current Assets115,200138,300Gross Plant & Equipment346,000360,000Accumulated Depreciation-60,000-90,000Total Assets401,200408,300Accounts Payable48,00057,000Notes Payable15,00013,000Accruals6,0005,000Total Current Liabilities69,00075,000Long Term Debt160,000150,000Common Stockholders Equity172,200183,300 Total Liabilities & Equity401,200408,300 XYZ Company, Income Statement for the Year Ended 12/31/2013 Sales (all credit) $600,000Less: Cost Of Goods Sold 460,000Gross Profit 140,000Less Operating & Interest Expenses General & Administrative30,000 Interest10,000 Depreciation30,000 Total 70,000Earnings Before taxes 70,000Less: Taxes 27,100Net Income Available to Common Stockholders 42,900Less: cash Dividends 31,800Change in Retained Earnings 11,100

The cash flow statement assesses a corporation's ability to handle its cash balance, or how…

Answered: Make a Summary of USES and SOURCES of…

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter16: Statement Of Cash Flows: Another Look

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Problem 4P

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Make a Summary of USES and SOURCES of Cash, then make a CASH FLOW STATEMENT, given the Income Statements and Balance Sheets for 2012 and 2013

XYZ Company, Balance Sheet for 12/31/2012 and 12/31/2013.
	2012	2013
Cash	$15,000	$14,000
Marketable Securities	6,000	6,200
Accounts Receivable	42,000	33,000
Inventory	51,000	84,000
Prepaid Rent	1,200	1,100
Total Current Assets	115,200	138,300
Gross Plant & Equipment	346,000	360,000
Accumulated Depreciation	-60,000	-90,000
Total Assets	401,200	408,300
Accounts Payable	48,000	57,000
Notes Payable	15,000	13,000
Accruals	6,000	5,000
Total Current Liabilities	69,000	75,000
Long Term Debt	160,000	150,000
Common Stockholders Equity	172,200	183,300
Total Liabilities & Equity	401,200	408,300

XYZ Company, Income Statement for the Year Ended 12/31/2013

Sales (all credit)		$600,000
Less: Cost Of Goods Sold		460,000
Gross Profit		140,000
Less Operating & Interest Expenses
General & Administrative	30,000
Interest	10,000
Depreciation	30,000
Total		70,000
Earnings Before taxes		70,000
Less: Taxes		27,100
Net Income Available to Common Stockholders		42,900
Less: cash Dividends		31,800
Change in Retained Earnings		11,100

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