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AccountingManagerial Accounting: The Cornerstone of Business Decision-Making7th Edition

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Chapter 14, Problem 30BEB
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Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773

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Chapter
Section
Problem 1DQ
Problem 2DQ
Problem 3DQ
Problem 4DQ
Problem 5DQ
Problem 6DQ
Problem 7DQ
Problem 8DQ
Problem 9DQ
Problem 10DQ
Problem 11DQ
Problem 12DQ
Problem 13DQ
Problem 14DQ
Problem 1MCQ
Problem 2MCQ
Problem 3MCQ
Problem 4MCQ
Problem 5MCQ
Problem 6MCQ
Problem 7MCQ
Problem 8MCQ
Problem 9MCQ
Problem 10MCQ
Problem 11MCQ
Problem 12MCQ
Problem 13MCQ
Problem 14MCQ
Problem 15MCQ
Problem 16MCQ
Problem 17BEA
Problem 18BEA
Problem 19BEA
Problem 20BEA
Problem 21BEA
Problem 22BEA
Problem 23BEA
Problem 24BEA
Problem 25BEB
Problem 26BEB
Problem 27BEB
Problem 28BEB
Problem 29BEB
Problem 30BEB
Problem 31BEB
Problem 32BEB
Problem 33E
Problem 34E
Problem 35E
Problem 36E
Problem 37E
Problem 38E
Problem 39E
Problem 40E
Problem 41E
Problem 42E
Problem 43E
Problem 44P
Problem 45P
Problem 46P
Problem 47P
Problem 48P
Problem 49P
Problem 50P
Problem 51P
Problem 52P
Problem 53P
Problem 54P
Problem 55P
Problem 56P
Problem 57P
Problem 58C
BuyFindarrow_forward

Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773
Textbook Problem
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Refer to the information provided in Brief Exercises 14-27, 14-28, and 14-29.

Required:

  1. 1. Prepare a statement of cash flows for Roberts Company for 20X2.
  2. 2. What is the relationship between the statement of cash flows and the change in cash calculated in Brief Exercise 14-26?

Roberts Company provided the following partial comparative balance sheets and the income statement for 20X2.

Chapter 14, Problem 30BEB, Refer to the information provided in Brief Exercises 14-27, 14-28, and 14-29. Required: 1. Prepare a , example 1

Chapter 14, Problem 30BEB, Refer to the information provided in Brief Exercises 14-27, 14-28, and 14-29. Required: 1. Prepare a , example 2

Required:

Compute operating cash flows using the indirect method.

During the year, Roberts Company sold equipment with a book value of $140,000 for $190,000 (original purchase cost of $240,000). New equipment was purchased.

Roberts provided the following comparative balance sheets:

Chapter 14, Problem 30BEB, Refer to the information provided in Brief Exercises 14-27, 14-28, and 14-29. Required: 1. Prepare a , example 3

Required:

Calculate the investing cash flows for the current year.

Roberts Company earned net income of $450,000 in 20X2. Roberts provided the following information:

Chapter 14, Problem 30BEB, Refer to the information provided in Brief Exercises 14-27, 14-28, and 14-29. Required: 1. Prepare a , example 4

Required:

Compute the financing cash flows for the current year.

Roberts Company provided the following information:

Chapter 14, Problem 30BEB, Refer to the information provided in Brief Exercises 14-27, 14-28, and 14-29. Required: 1. Prepare a , example 5

Required:

  1. 1. Calculate the change in cash.
  2. 2. Explain the role of the change in cash flow in the statement of cash flows.

1.

To determine

Chart the statement of cash flows for Company R for 20X2.

Explanation

Cash Flow Statement:

Cash flow statement is a financial statement prepared to provide information about the sources and uses of cash in a firm. In this statement, the activities increasing cash are referred as cash inflows and the activities that decrease cash are referred as cash outflows. Financing and investing activities are two category of a cash flow statement.

The statement of cash flows for Company R for 20X2 is shown below:

R Company
Statement of Cash Flows
For the year ended December 31, 20X2
Cash flows from operating activities:
ParticularsAmount ($)Amount ($)
Net income450,000 
Add/ Less:  
    Decrease in accounts receivable183,750 
    Decrease in wages payable2(92,500) 
    Increase in inventories3(10,000) 
    Depreciation expense135,000 
    Gain on sale of equipment(50,000) 
        Net cash from operating activities 516,250
Cash flows from investing activities:
    Sale of equipment190,000 
    Purchase of equipment4(215,000) 
    Purchase of land5(218,750) 
        Net cash from investing activities (243,750)
Cash flows from financing activities:
    Issuance of bonds payable192,500 
    Payment of mortgage(50,000) 
    Payment of dividends6(200,000) 
        Net cash from financing activities (57,500)
Net increase in cash 215,000

Table (1)

Therefore, there is a net increase in cash of $215,000.

Working Note:

1.

Calculation of difference in accounts receivable:

(Difference inAccounts Receivable)=(Amount of Accounts Receivable of 20X2−Amount of Accounts Receivable of 20X1)=($291,250−$375,000)=−$83,750

2.

Calculation of difference in wages payable:

(Difference inWages Payable)=(Amount of Wages Payable of 20X2−Amount of Wages Payable of 20X1)=($257,500−$350,000)=−$92,500

3

2.

To determine

Explain the relationship between the statement of cash flows and the change in cash.

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