Financial and Managerial Accounting - With CengageNow
14th Edition
ISBN: 9781337577809
Author: WARREN
Publisher: CENGAGE L
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Textbook Question
Chapter 13, Problem 13.3BPR
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 |
(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 |
||
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 |
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.
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Financial and Managerial Accounting - With CengageNow
Ch. 13 - Prob. 1DQCh. 13 - Prob. 2DQCh. 13 - A corporation issued 2,000,000 of common stock in...Ch. 13 - A retail business, using the accrual method of...Ch. 13 - If salaries payable was 100,000 at the beginning...Ch. 13 - Prob. 6DQCh. 13 - A corporation issued 2,000,000 of 20-year bonds...Ch. 13 - Fully depreciated equipment costing 50,000 was...Ch. 13 - Prob. 9DQCh. 13 - Name five common major classes of operating cash...
Ch. 13 - Classifying cash flows Identify whether each of...Ch. 13 - Prob. 13.2BECh. 13 - Prob. 13.3BECh. 13 - Prob. 13.4BECh. 13 - Land transactions on the statement of cash flows...Ch. 13 - Common stock transactions on the statement of cash...Ch. 13 - Prob. 13.7BECh. 13 - Prob. 13.8BECh. 13 - Prob. 13.1EXCh. 13 - Effect of transactions on cash flows State the...Ch. 13 - Classifying cash flows Identify the type of cash...Ch. 13 - Prob. 13.4EXCh. 13 - Prob. 13.5EXCh. 13 - Cash flows from operating activitiesindirect...Ch. 13 - Cash flows from operating activitiesindirect...Ch. 13 - Prob. 13.8EXCh. 13 - Reporting changes in equipment on statement of...Ch. 13 - Prob. 13.10EXCh. 13 - Determining cash payments to stockholders The...Ch. 13 - Prob. 13.12EXCh. 13 - Reporting land acquisition for cash and mortgage...Ch. 13 - Prob. 13.14EXCh. 13 - Prob. 13.15EXCh. 13 - Prob. 13.16EXCh. 13 - Statement of cash flowsindirect method The...Ch. 13 - Statement of cash flowsindirect method List the...Ch. 13 - Prob. 13.19EXCh. 13 - Prob. 13.20EXCh. 13 - Cash flows from operating activities direct method...Ch. 13 - Prob. 13.22EXCh. 13 - Prob. 13.1APRCh. 13 - Prob. 13.2APRCh. 13 - Prob. 13.3APRCh. 13 - Prob. 13.4APRCh. 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 - Prob. 1ADMCh. 13 - Prob. 2ADMCh. 13 - Prob. 3ADMCh. 13 - Priceline: Free cash flow Priceline Group, Inc. is...Ch. 13 - Prob. 13.1TIFCh. 13 - Prob. 13.3TIF
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