Statement of cash flows—indirect method The comparative balance sheet of Coulson, Inc. at December 31, 20Y2 and 20Y1, is as follows: Dec 31, 20Y2 Dec. 31, 20Y1 Assets Cash $ 300,600 $ 337,800 Accounts receivable (net) 704,400 609,600 inventories 918,600 865,800 Prepaid expense 18,600 26,400 Land 990,000 1,386,000 Buildings 1,980,000 990,000 Accumulated depreciation—buildings (307,200) (366,000) Equipment 660,600 529,800 Accumulated depreciation—equipment (133,200) (162,000) Total assets $ 5,042,400 $4,217,400 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $ 594,000 $ 631,300 Income taxes payable 26,400 21,600 Bonds payable 330,000 0 Common stock, $20 par 320,000 180,000 Paid-in capital: Excess of issue price over par—common stock 950,000 8 10,000 Retained earnings 2,822,000 2,574,600 Total liabilities and stockholders' equity $ 5,042,400 $4,217,400 The noncurrrent asset, noncurrent liability, and stockholders equity accounts for 20Y2 are as follows: Instructions Prepare a statement of cash flow s, using the indirect method of presenting cash flows from operating activities.

BuyFind

Financial & Managerial Accounting

14th Edition
Carl Warren + 2 others
Publisher: Cengage Learning
ISBN: 9781337119207
BuyFind

Financial & Managerial Accounting

14th Edition
Carl Warren + 2 others
Publisher: Cengage Learning
ISBN: 9781337119207

Solutions

Chapter
Section
Chapter 13, Problem 13.3BPR
Textbook Problem

Statement of cash flows—indirect method

The comparative balance sheet of Coulson, Inc. at December 31, 20Y2 and 20Y1, is as follows:

Dec 31, 20Y2 Dec. 31, 20Y1
Assets
Cash $ 300,600 $ 337,800
Accounts receivable (net) 704,400 609,600
inventories 918,600 865,800
Prepaid expense 18,600 26,400
Land 990,000 1,386,000
Buildings 1,980,000 990,000
Accumulated depreciation—buildings (307,200) (366,000)
Equipment 660,600 529,800
Accumulated depreciation—equipment (133,200) (162,000)
Total assets $ 5,042,400 $4,217,400
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors) $ 594,000 $ 631,300
Income taxes payable 26,400 21,600
Bonds payable 330,000 0
Common stock, $20 par 320,000 180,000
Paid-in capital: Excess of issue price over par—common stock 950,000 8 10,000
Retained earnings 2,822,000 2,574,600
Total liabilities and stockholders' equity $ 5,042,400 $4,217,400

The noncurrrent asset, noncurrent liability, and stockholders equity accounts for 20Y2 are as follows:

Chapter 13, Problem 13.3BPR, Statement of cash flowsindirect method The comparative balance sheet of Coulson, Inc. at December , example  1

Chapter 13, Problem 13.3BPR, Statement of cash flowsindirect method The comparative balance sheet of Coulson, Inc. at December , example  2

Instructions

Prepare a statement of cash flow s, using the indirect method of presenting cash flows from operating activities.

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Chapter 13 Solutions

Financial & Managerial Accounting
Ch. 13 - Classifying cash flows Identify whether each of...Ch. 13 - Adjustments to net incomeindirect method Ripley...Ch. 13 - Changes in current operating assets and...Ch. 13 - Cash flows from operating activitiesindirect...Ch. 13 - Land transactions on the statement of cash flows...Ch. 13 - Common stock transactions on the statement of cash...Ch. 13 - Cash received from customersdirect method Sales...Ch. 13 - Cash payments for merchandisedirect method The...Ch. 13 - Cash flows from operating activitiesnet loss...Ch. 13 - Effect of transactions on cash flows State the...Ch. 13 - Classifying cash flows Identify the type of cash...Ch. 13 - Cash flows from operating activitiesindirect...Ch. 13 - Cash flows from operating activities indirect...Ch. 13 - Cash flows from operating activitiesindirect...Ch. 13 - Cash flows from operating activitiesindirect...Ch. 13 - Reporting changes in equipment on statement of...Ch. 13 - Reporting changes in equipment on statement of...Ch. 13 - Reporting land transactions on statement of cash...Ch. 13 - Determining cash payments to stockholders The...Ch. 13 - Reporting stockholders' equity items on statement...Ch. 13 - Reporting land acquisition for cash and mortgage...Ch. 13 - Reporting issuance and retirement of long-term...Ch. 13 - Determining net income from net cash flow from...Ch. 13 - Cash flows from operating activitiesindirect...Ch. 13 - Statement of cash flowsindirect method The...Ch. 13 - Statement of cash flowsindirect method List the...Ch. 13 - Cash flows from operating activitiesdirect method...Ch. 13 - Determining selected amounts for cash flows from...Ch. 13 - Cash flows from operating activities direct method...Ch. 13 - Cash flows from operating activitiesdirect method...Ch. 13 - Statement of cash flowsindirect method The...Ch. 13 - Statement of cash flowsindirect method The...Ch. 13 - Statement of cash flowsindirect method The...Ch. 13 - Statement of cash flowsdirect method The...Ch. 13 - Statement of cash flows direct method applied to...Ch. 13 - Statement of cash flowsindirect method The...Ch. 13 - Statement of cash flows indirect method The...Ch. 13 - Statement of cash flowsindirect method The...Ch. 13 - Statement of cash flows direct method The...Ch. 13 - Statement of cash flowsdirect method applied to PR...Ch. 13 - Continuing Company AnalysisAmazon, Best Buy, and...Ch. 13 - RadioShack: Free cash flow RadioShack Corporation...Ch. 13 - ATT and Facebook: Free cash flow ATT Inc. is a...Ch. 13 - Priceline: Free cash flow Priceline Group, Inc. is...Ch. 13 - Ethics in Action Head Donuts Inc. is a retailer of...Ch. 13 - Communication Tidewater Inc., a retailer, provided...

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