Financial and Managerial Accounting (Looseleaf) (Custom Package)
6th Edition
ISBN: 9781259754883
Author: Wild
Publisher: MCG
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Chapter 12, Problem 7PSA
Problem 12-7AA
Indirect:
P1P2 P3P4
Refer to the information reported about Golden Corporation in Problem 12-6A.
Required
Prepare a complete statement of cash flows using a spreadsheet as in Exhibit 12A.1; report operating activities under the indirect method. Identify the debits and credits in the Analysis of Changes columns with letters that correspond to the following list of transactions and events.
a. Net income was $136,000.
b. Accounts receivable increased.
c. Inventory increased.
d. Accounts payable increased.
e. Income taxes payable increased.
f.
g. Purchased equipment for $36,000 cash.
h. Issued 12,000 shares at $5 cash per share.
i. Declared and paid $89,000 of cash dividends.
Check Analysis of Changes column totals, $481,000
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Exercise 12-1 (Algo) Indirect: Classifying Cash flows LO C1
Indicate where each item would appear on a statement of cash flows using the Indirect method by placing an X In the appropriate
column(s). (More than one column may be used.)
a. Paid cash to settle long-term notes payable
b. Inventory increased in the year
c. Issued common stock for cash
d. Accounts payable decreased in the year
e. Income taxes payable increased in the year
f. Retired bonds payable by issuing stock
g. Sold merchandise to customer for cash
h. Sold land in return for cash
i. Received a cash dividend from investment
j. Recorded depreciation expense
X
Operating Investing
Activities Activities
X
X
X
X
Answer is not complete.
X
Statement of Cash Flows
>
X
Financing
Activities
X
X
X
x
Noncash
Investing
&
Financing
Activities
X
x
Not
Reported
on
Statement
or in
Notes
5
Required information
Exercise 12-10A (Algo) Determining cash flows from investing activities LO 12-3
[The following information applies to the questions displayed below.]
The following accounts and corresponding balances were drawn from Delsey Company's Year 2 and Year 1 year-end
balance sheets:
Account Title
Investment securities
Machinery
Land
Year 2
$ 103,400
521,300
145, 100
Year 1
$ 114,400
425, 100
91,800
Other information drawn from the accounting records:
1. Delsey incurred a $1,330 loss on the sale of investment securities during Year 2.
2. Old machinery with a book value of $4,130 (cost of $25,010 minus accumulated depreciation of $20,880) was sold. The
income statement showed a gain on the sale of machinery of $4,980,
3. Delsey did not sell land during the year.
Statement of Cash Flows—Direct Method applied to PR 16-1A
The comparative balance sheet of Navaria Inc. for December 31, 20Y3 and 20Y2, is as follows:
Dec. 31, 20Y3
Dec. 31, 20Y2
Assets
Cash
$ 251,860
$ 238,290
Accounts receivable (net)
92,610
84,960
Inventories
261,030
250,990
Investments
0
97,660
Land
133,790
0
Equipment
285,270
224,620
Accumulated depreciation-equipment
(67,800)
(60,500)
Total assets
$956,760
$836,020
Liabilities and Stockholders' Equity
Accounts payable
$ 172,940
$ 164,700
Accrued expenses payable
17,390
21,740
Dividends payable
9,400
7,500
Common stock, $1 par
51,100
39,290
Paid-in capital: Excess of issue price over par-common stock
194,400
113,700
Retained earnings
511,530
489,090
Total liabilities and stockholders’ equity
$956,760
$836,020
The income statement for the year ended December 31, 20Y3, is as…
Chapter 12 Solutions
Financial and Managerial Accounting (Looseleaf) (Custom Package)
Ch. 12 - Prob. 1MCQCh. 12 - Prob. 2MCQCh. 12 - Prob. 3MCQCh. 12 - Prob. 4MCQCh. 12 - Prob. 5MCQCh. 12 - Prob. 1DQCh. 12 - Prob. 2DQCh. 12 - Prob. 3DQCh. 12 - Prob. 4DQCh. 12 - Prob. 5DQ
Ch. 12 - Prob. 6DQCh. 12 - Prob. 7DQCh. 12 - Prob. 8DQCh. 12 - Prob. 9DQCh. 12 - Prob. 10DQCh. 12 - Prob. 11DQCh. 12 - Prob. 12DQCh. 12 - Prob. 13DQCh. 12 - Prob. 14DQCh. 12 - Prob. 15DQCh. 12 - Prob. 1QSCh. 12 - Prob. 2QSCh. 12 - Prob. 3QSCh. 12 - Prob. 8QSCh. 12 - Prob. 9QSCh. 12 - Prob. 10QSCh. 12 - Prob. 11QSCh. 12 - Prob. 12QSCh. 12 - Prob. 13QSCh. 12 - Prob. 14QSCh. 12 - Prob. 15QSCh. 12 - Prob. 16QSCh. 12 - Prob. 17QSCh. 12 - Prob. 18QSCh. 12 - Prob. 19QSCh. 12 - Prob. 20QSCh. 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 - Prob. 9ECh. 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. 1PSACh. 12 - Prob. 2PSACh. 12 - Prob. 3PSACh. 12 - Prob. 4PSACh. 12 - Prob. 5PSACh. 12 - Prob. 6PSACh. 12 - Problem 12-7AA Indirect: Cash flows spreadsheet...Ch. 12 - Prob. 8PSACh. 12 - Prob. 1PSBCh. 12 - Prob. 2PSBCh. 12 - Prob. 3PSBCh. 12 - Prob. 4PSBCh. 12 - Prob. 5PSBCh. 12 - Prob. 6PSBCh. 12 - Prob. 7PSBCh. 12 - Prob. 8PSBCh. 12 - Prob. 12SPCh. 12 - Prob. 1GLPCh. 12 - Prob. 2GLPCh. 12 - Prob. 3GLPCh. 12 - Prob. 1BTNCh. 12 - Prob. 2BTNCh. 12 - Prob. 3BTNCh. 12 - Prob. 4BTNCh. 12 - Taking IT TO
THE NET
A1
BTN 12-5 Access the March...Ch. 12 - Prob. 6BTNCh. 12 - Prob. 7BTNCh. 12 - Prob. 8BTNCh. 12 - Prob. 9BTNCh. 12 - Prob. 10BTN
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Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- TB MC Qu. 12-133 In preparing a company's statement... In preparing a company's statement of cash flows using the Indirect method, the following information is available: Net income Accounts payable increased by Accounts receivable decreased by Inventories increased by Depreciation expense Net cash provided by operating activities was: Multiple Choice $120,000. $60,000. $70,000. $80,000. $130,000. $52,000 18,000 25,000 5,000 30,000arrow_forwardMC Qu. 12-124 The net cash flow provided by.. The net cash flow provided by operating activitles is an Inflow of $37,042, the net cash flow used in Investing activities is $16,831, and the net cash flow used in financing activities is $26,397. If the beginning cash account balance is $11,283, what is the ending cash account balance? Multiple Choice $27.476 ($6.186) $38,759 $5,097arrow_forwardCalculator The following information is available from the current period financial statements: $103,184 Net income Depreciation expense 29,117 Increase in accounts receivable 16,270 Decrease in accounts payable 15,506 Determine the net cash flow from operating activities using the indirect method. Select the correct answer. $100,525 $164,077 $42,291 $103,184 4:10 PMarrow_forward
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