MANAGERIAL ACCOUNTING W/CONNECT
3rd Edition
ISBN: 9781307583946
Author: Whitecotton
Publisher: MCG/CREATE
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Chapter 12, Problem 4.1GAP
To determine
Concept introduction:
Cash Flow Statement:
A statement which defines changes occurring and their effects in the
To prepare:
The cash flow statement for the current year ended on December
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planning entity owned by Elnora Adalem. The entity had the following transactions
The following transactions pertain to the operations of Party Consultants, an events
Problem #15
Classification of Events on Statement of Cash Flows
during the month:
1. Received a P180,000 cash investment from the owner.
2. Provided P400,000 services on account.
3. Incurred P220,000 of operating expenses on account.
4. Collected P320,000 cash from accounts receivable.
5. Allowed a P30,000 cash withdrawal to the owner of the business.
6. Paid P160,000 cash on accounts payable.
7. Performed services for P30,000 cash.
8. Paid P12,000 cash for expenses.
Required:
1. Classify each of these transactions as a cash flow from operating activities (OA),
investing activities (IA), or financing activities (FA). Transactions that do not affect
the statement of cash flows should be identified as "n/a".
2. Prepare a statement of cash flows.
Select all that apply
Grey Company earned $5,000 of revenue on account during Year 1, but collected the cash associated with the receivables in Year 2. Based on this information
alone, under accrual accounting, the company will report revenue of.
$5,000 and cash inflow from operations of zero in Year 2
$5,000 and cash inflow from operations of zero in Year 1
zero and cash inflow from operations of $5,000 in Year 2
zero and cash inflow from operations of $5,000 in Year 1
Comparative financial statements for Weaver Company follow:
Weaver Company
Comparative Balance Sheet
at Decenber 31
This Year Last Year
Ansets
Canh and canh equivalents
Accounte receivable
Inventory
Prepaiafexpenses
Total chrrent assets
Property, plant, and equi pnent
Less accumulated depreeiation
Net property, plant, and equipnent
Long-term investmenta
15
19
430
290
150
7
195
602
509
600
105
490
40
450
495
18
39
Total asseta
$1,115
$ 998
Liabilities and Stockholders' Equity
Accounts payable
Acerued liabilities
Income taxes payable
Total current liabilitien
Bonds payable
Total liabilities
$ 310
65
76
245
80
69
451
250
394
190
701
584
Common stock
Retained earnings
Total stockholders equity
338
400
76
14
414
$1,115
414
Total liabilities and stockholders' equity
998
Meaver Company
Incone Statement
For This Year Ended Decenber 31
Sales
$790
Cost of gooda sold
Gross margin
Selling and administrative expenses
Net operating income
Nonoperating itema:
Gain on sale of investments
Loss on sale…
Chapter 12 Solutions
MANAGERIAL ACCOUNTING W/CONNECT
Ch. 12 - Compare the purposes of the income statement, the...Ch. 12 - What information does the statement of cash flows...Ch. 12 - Prob. 3QCh. 12 - What are the major categories of business...Ch. 12 - Prob. 5QCh. 12 - Prob. 6QCh. 12 - Prob. 7QCh. 12 - Prob. 8QCh. 12 - Prob. 9QCh. 12 - Prob. 10Q
Ch. 12 - As a junior analyst, you are evaluating the...Ch. 12 - Prob. 12QCh. 12 - Prob. 13QCh. 12 - Prob. 14QCh. 12 - Prob. 15QCh. 12 - Prob. 1MCCh. 12 - Prob. 2MCCh. 12 - Prob. 3MCCh. 12 - Prob. 4MCCh. 12 - Prob. 5MCCh. 12 - Prob. 6MCCh. 12 - Prob. 7MCCh. 12 - Prob. 8MCCh. 12 - Prob. 9MCCh. 12 - Prob. 10MCCh. 12 - Prob. 1MECh. 12 - Prob. 2MECh. 12 - Prob. 3MECh. 12 - Prob. 4MECh. 12 - Prob. 5MECh. 12 - Prob. 6MECh. 12 - Prob. 7MECh. 12 - Prob. 8MECh. 12 - Prob. 9MECh. 12 - Interpreting Cash Flows from Operating, Investing,...Ch. 12 - Prob. 11MECh. 12 - Prob. 12MECh. 12 - Prob. 13MECh. 12 - Prob. 1ECh. 12 - Prob. 2ECh. 12 - Prob. 3ECh. 12 - Prob. 4ECh. 12 - Prob. 5ECh. 12 - Prob. 6ECh. 12 - Prob. 7ECh. 12 - Prob. 8ECh. 12 - Reporting and Interpreting Cash Flows from...Ch. 12 - Prob. 10ECh. 12 - Prob. 11ECh. 12 - Prob. 12ECh. 12 - Prob. 13ECh. 12 - Prob. 14ECh. 12 - Prob. 15ECh. 12 - Prob. 16ECh. 12 - Prob. 17ECh. 12 - Prob. 18ECh. 12 - Prob. 19ECh. 12 - Prob. 20ECh. 12 - Prob. 21ECh. 12 - Prob. 22ECh. 12 - (Supplement 12B) Preparing a Statement of Cash...Ch. 12 - Prob. 1GAPCh. 12 - Prob. 2GAPCh. 12 - Prob. 3.1GAPCh. 12 - Prob. 3.2GAPCh. 12 - Prob. 4.1GAPCh. 12 - Prob. 4.2GAPCh. 12 - Prob. 5GAPCh. 12 - Preparing and Interpreting a Statement of Cash...Ch. 12 - Prob. 7.1GAPCh. 12 - Prob. 7.2GAPCh. 12 - Prob. 1GBPCh. 12 - Prob. 2GBPCh. 12 - Prob. 3.1GBPCh. 12 - Prob. 3.2GBPCh. 12 - Prob. 4.1GBPCh. 12 - Prob. 4.2GBPCh. 12 - Prob. 5GBPCh. 12 - Prob. 6GBP
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