Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Be sure to complete the heading of the statement. Use the minus sign to indicate cash outflows, decreases in cash and a net cash outflow for each section, if required. Can you help me set up a cash flow statement?
Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Be sure to complete the heading of the statement. Use the minus sign to indicate cash outflows, decreases in cash and a net cash outflow for each section, if required. Can you help me set up a cash flow statement?
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 30BEB: Klynveld Companys balance sheet shows total liabilities of 94,000,000, total stockholders equity of...
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Question
The comparative balance sheet of Navaria Inc. for December 31, 20Y3 and 20Y2, is shown as follows:
1
|
|
Dec. 31, 20Y3
|
Dec. 31, 20Y2
|
2
|
Assets
|
|
|
3
|
Cash
|
$626,170.00
|
$585,760.00
|
4
|
Accounts receivable (net)
|
227,840.00
|
208,880.00
|
5
|
Inventories
|
641,390.00
|
616,790.00
|
6
|
Investments
|
0.00
|
240,820.00
|
7
|
Land
|
327,380.00
|
0.00
|
8
|
Equipment
|
704,290.00
|
554,020.00
|
9
|
|
(167,160.00)
|
(148,930.00)
|
10
|
Total assets
|
$2,359,910.00
|
$2,057,340.00
|
11
|
Liabilities and
|
|
|
12
|
Accounts payable
|
$424,670.00
|
$404,080.00
|
13
|
Accrued expenses payable
|
43,080.00
|
52,050.00
|
14
|
Dividends payable
|
24,920.00
|
19,300.00
|
15
|
Common stock, $4 par
|
140,000.00
|
102,000.00
|
16
|
Paid-in capital: Excess of issue price over par—common stock
|
417,400.00
|
280,600.00
|
17
|
|
1,309,840.00
|
1,199,310.00
|
18
|
Total liabilities and stockholders’ equity
|
$2,359,910.00
|
$2,057,340.00
|
Additional data obtained from an examination of the accounts in the ledger for 20Y3 are as follows:
A. | The investments were sold for $279,890 cash. |
B. | Equipment and land were acquired for cash. |
C. | There were no disposals of equipment during the year. |
D. | The common stock was issued for cash. |
E. | There was a $206,210 credit to Retained Earnings for net income. |
F. | There was a $95,680 debit to Retained Earnings for cash dividends declared. |
Prepare a statement of cash flows , using the indirect method of presenting cash flows from operating activities. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Be sure to complete the heading of the statement. Use the minus sign to indicate cash outflows, decreases in cash and a net cash outflow for each section, if required.
Can you help me set up a cash flow statement?
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