Use the following excerpts from Yardley Company’s financial information. 2018 Income Statement Balance Sheets Sales $455,000 Cost of Goods Sold (221,500) Operating Expenses, other than Depreciation Expense (60,600) Depreciation Expense (21,000) Gain on Sale of Plant Assets 23,500 Net Income $175,400 Dec. 31,2018 Cash $323,450 Accounts Receivable 39,750 Inventory 31,000 Accounts Payable 17,550 Accured Liabilities 3,500 Dec. 31, 2017 Cash $133,500 Accounts Receivable 36,500 Inventory 35,000 Accounts Payable 19,550 Accured Liabilities 2,200 Additional Information: Plant assets were sold for $40,000; book value $16,500. Dividends of $23,000 were declared and paid. Prepare a statement of cash flows (indirect method) for the year 2018. Use the minus sign to indicate cash outflows, a decrease in cash or cash payments. Yardley Company Statement of Cash Flows (Indirect Method) For the Year Ended December 31, 2018 Operating Activities: $fill in the blank 2 Adjustments to Reconcile Net Income to Net Cash Flow from Operating Activities: $fill in the blank 4 fill in the blank 6 Changes in Current Assets and Liabilities: fill in the blank 8 fill in the blank 10 fill in the blank 12 fill in the blank 14 fill in the blank 15 Net Cash Flow from Operating Activities $fill in the blank 16 Cash Flow from Investing Activities: $fill in the blank 18 Net Cash Flow from Investing Activities fill in the blank 19 Cash Flow from Financing Activities: $fill in the blank 21 Net Cash Flow from Financing Activities fill in the blank 22 $fill in the blank 24 fill in the blank 26 $fill in the blank 28
Use the following excerpts from Yardley Company’s financial information. 2018 Income Statement Balance Sheets Sales $455,000 Cost of Goods Sold (221,500) Operating Expenses, other than Depreciation Expense (60,600) Depreciation Expense (21,000) Gain on Sale of Plant Assets 23,500 Net Income $175,400 Dec. 31,2018 Cash $323,450 Accounts Receivable 39,750 Inventory 31,000 Accounts Payable 17,550 Accured Liabilities 3,500 Dec. 31, 2017 Cash $133,500 Accounts Receivable 36,500 Inventory 35,000 Accounts Payable 19,550 Accured Liabilities 2,200 Additional Information: Plant assets were sold for $40,000; book value $16,500. Dividends of $23,000 were declared and paid. Prepare a statement of cash flows (indirect method) for the year 2018. Use the minus sign to indicate cash outflows, a decrease in cash or cash payments. Yardley Company Statement of Cash Flows (Indirect Method) For the Year Ended December 31, 2018 Operating Activities: $fill in the blank 2 Adjustments to Reconcile Net Income to Net Cash Flow from Operating Activities: $fill in the blank 4 fill in the blank 6 Changes in Current Assets and Liabilities: fill in the blank 8 fill in the blank 10 fill in the blank 12 fill in the blank 14 fill in the blank 15 Net Cash Flow from Operating Activities $fill in the blank 16 Cash Flow from Investing Activities: $fill in the blank 18 Net Cash Flow from Investing Activities fill in the blank 19 Cash Flow from Financing Activities: $fill in the blank 21 Net Cash Flow from Financing Activities fill in the blank 22 $fill in the blank 24 fill in the blank 26 $fill in the blank 28
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter12: Intangibles
Section: Chapter Questions
Problem 10MC
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Question
Use the following excerpts from Yardley Company’s financial information.
2018 Income Statement |
Balance Sheets |
||
Sales | $455,000 | ||
Cost of Goods Sold | (221,500) | ||
Operating Expenses, other than |
(60,600) | ||
Depreciation Expense | (21,000) | ||
Gain on Sale of Plant Assets | 23,500 | ||
Net Income | $175,400 | ||
Dec. 31,2018 | |||
Cash | $323,450 | ||
39,750 | |||
Inventory | 31,000 | ||
Accounts Payable | 17,550 | ||
Accured Liabilities | 3,500 | ||
Dec. 31, 2017 | |||
Cash | $133,500 | ||
Accounts Receivable | 36,500 | ||
Inventory | 35,000 | ||
Accounts Payable | 19,550 | ||
Accured Liabilities | 2,200 | ||
Additional Information: | |||
Plant assets were sold for $40,000; book value $16,500. | |||
Dividends of $23,000 were declared and paid. |
Prepare a statement of cash flows (indirect method) for the year 2018. Use the minus sign to indicate
Yardley Company | ||
Statement of Cash Flows (Indirect Method) | ||
For the Year Ended December 31, 2018 | ||
Operating Activities: | ||
$fill in the blank 2 | ||
Adjustments to Reconcile Net Income to Net Cash Flow from Operating Activities: | ||
$fill in the blank 4 | ||
fill in the blank 6 | ||
Changes in Current Assets and Liabilities: | ||
fill in the blank 8 | ||
fill in the blank 10 | ||
fill in the blank 12 | ||
fill in the blank 14 | fill in the blank 15 | |
Net Cash Flow from Operating Activities | $fill in the blank 16 | |
Cash Flow from Investing Activities: | ||
$fill in the blank 18 | ||
Net Cash Flow from Investing Activities | fill in the blank 19 | |
Cash Flow from Financing Activities: | ||
$fill in the blank 21 | ||
Net Cash Flow from Financing Activities | fill in the blank 22 | |
$fill in the blank 24 | ||
fill in the blank 26 | ||
$fill in the blank 28 |
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