Financial & Managerial Accounting
13th Edition
ISBN: 9781285866307
Author: Carl Warren, James M. Reeve, Jonathan Duchac
Publisher: Cengage Learning
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Question
Chapter 14, Problem 14.4BPR
To determine
Statement of cash flows
Statement of cash flow is a financial statement that shows the cash and cash equivalents of a company for a particular period of time. It shows the net changes in cash, by reporting the sources and uses of cash as a result of operating, investing, and financing activities of a company.
To Prepare: The statement of cash flows using the direct method of presenting cash flows from operating activities.
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Check out a sample textbook solutionChapter 14 Solutions
Financial & Managerial Accounting
Ch. 14 - Prob. 1DQCh. 14 - Prob. 2DQCh. 14 - A corporation issued 2,000,000 of common stock in...Ch. 14 - A retail business, using the accrual method of...Ch. 14 - If salaries payable was 100,000 at the beginning...Ch. 14 - Prob. 6DQCh. 14 - A corporation issued 2,000,000 of 20-year bonds...Ch. 14 - Fully depreciated equipment costing 50,000 was...Ch. 14 - Prob. 9DQCh. 14 - Name five common major classes of operating cash...
Ch. 14 - Prob. 14.1APECh. 14 - Classifying cash flows Identify whether each of...Ch. 14 - Prob. 14.2APECh. 14 - Prob. 14.2BPECh. 14 - Prob. 14.3APECh. 14 - Prob. 14.3BPECh. 14 - Prob. 14.4APECh. 14 - Prob. 14.4BPECh. 14 - Land transactions on the statement of cash flows...Ch. 14 - Land transactions on the statement of cash flows...Ch. 14 - Prob. 14.6APECh. 14 - Prob. 14.6BPECh. 14 - Prob. 14.7APECh. 14 - Prob. 14.7BPECh. 14 - Prob. 14.8APECh. 14 - Prob. 14.8BPECh. 14 - Prob. 14.1EXCh. 14 - Prob. 14.2EXCh. 14 - Classifying cash flows Identify the type of cash...Ch. 14 - Prob. 14.4EXCh. 14 - Prob. 14.5EXCh. 14 - Prob. 14.6EXCh. 14 - Prob. 14.7EXCh. 14 - Determining cash payments to stockholders The...Ch. 14 - Prob. 14.9EXCh. 14 - Reporting changes in equipment on statement of...Ch. 14 - Prob. 14.11EXCh. 14 - Prob. 14.12EXCh. 14 - Reporting land acquisition for cash and mortgage...Ch. 14 - Prob. 14.14EXCh. 14 - Prob. 14.15EXCh. 14 - Prob. 14.16EXCh. 14 - Prob. 14.17EXCh. 14 - Prob. 14.18EXCh. 14 - Prob. 14.19EXCh. 14 - Prob. 14.20EXCh. 14 - Prob. 14.21EXCh. 14 - Cash flows from operating activities direct method...Ch. 14 - Prob. 14.23EXCh. 14 - Prob. 14.24EXCh. 14 - Prob. 14.25EXCh. 14 - Prob. 14.26EXCh. 14 - Prob. 14.1APRCh. 14 - Statement of cash flowsindirect method The...Ch. 14 - Prob. 14.3APRCh. 14 - Prob. 14.4APRCh. 14 - Statement of cash flowsdirect method applied to PR...Ch. 14 - Prob. 14.1BPRCh. 14 - Prob. 14.2BPRCh. 14 - Prob. 14.3BPRCh. 14 - Prob. 14.4BPRCh. 14 - Statement of cash flowsdirect method applied to PR...Ch. 14 - Prob. 14.1CPCh. 14 - Prob. 14.2CPCh. 14 - Analysis of statement of cash flows Dillip Lachgar...Ch. 14 - Prob. 14.4CP
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- A summary of cash flows for Ethos Consulting Group for the year ended May 31, 2016, follows: The cash balance as of June 1, 2015, was 58,000. Prepare a statement of cash flows for Ethos Consulting Group for the year ended May 31, 2016.arrow_forwardStatement of cash flowsdirect method applied to PR 14-1A The comparative balance sheet of Cromme Inc. for December 31, 2016 and 2015, is as follows: Dec. 31,2016 Dec. 31,2015 Assets Cash 625,760 585,920 Accounts receivable (net) 227,840 208,960 Inventories 641.760 617,120 Investments 0 240,000 Land 328,000 0 Equipment 705,120 553,120 Accumulated depreciationequipment (166,400) (148,000) Total assets 2,362,080 2,057,120 Liabilities and Stockholders Equity Accounts payable (merchandise creditors) 424,4B0 404.960 Accrued expenses payable (operating expenses) 42,240 52,640 Dividends payable 24,000 19,200 Common stock, 2 par 150,000 100,000 Paid in capital: Excess of issue price over parcommon stock 417,500 280,000 Retained earnings 1,303,860 1,200,320 Total liabilities and stockholders equity 2,362,080 2,057,120 The income statement for the year ended December 31, 2016, is as follows: Sales 5,372,559 Cost of merchandise sold 3,306,190 Gross profit 52,066,369 Operating expenses: Depreciation expense 18,400 Other operating expenses 1,755,402 Total operating expenses 1,773,802 Operating income 292,567 Other income: Gain on sale of investments 40,000 Income before income tax 332,567 Income tax expense 133,027 Net income 199,540 Additional data obtained from an examination of the accounts in the ledger for 2016 are as follows: a. The investments were sold for 280,000 cash. b. Equipment and land were acquired for cash. c. There were no disposals of equipment during the year. d. The common stock was issued for cash. e. There was a 96,000 debit to Retained Earnings for cash dividends declared. Instructions Prepare a statement of cash flows, using the direct method of presenting cash flows from operating activities.arrow_forward
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