INTERMEDIATE ACCOUNTING(LL)-W/2 ACCESS
9th Edition
ISBN: 9781260180657
Author: SPICELAND
Publisher: MCG
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Chapter 21, Problem 21.5P
Statement of
• LO21–3, LO21–8
Comparative balance sheets for 2018 and 2017 and a statement of income for 2018 are given below for Metagrobolize Industries. Additional information from the accounting records of Metagrobolize also is provided.
Additional information from the accounting records:
a. Annual payments of $20,000 on the finance lease liability are paid each January 1, beginning in 2018.
b. During 2018, equipment with a cost of $300,000 (90%
c. The statement of shareholders’ equity reveals reductions of $225,000 and $450,000 for stock dividends and cash dividends, respectively.
Required:
Prepare the statement of cash flows of Metagrobolize for the year ended December 31, 2018. Present cash flows from operating activities by the direct method. (You may omit the schedule to reconcile net income to cash flows from operating activities.)
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Problem 21-17 (Algo) Statement of cash flows; indirect method [LO21-4, 21-8]
Comparative balance sheets for 2021 and 2020 and a statement of income for 2021 are given below for Metagrobolize Industries. Additional information from the accounting records of Metagrobolize also is provided.
METAGROBOLIZE INDUSTRIESComparative Balance SheetsDecember 31, 2021 and 2020($ in thousands)
2021
2020
Assets
Cash
$
405
$
245
Accounts receivable
350
190
Inventory
500
275
Land
500
450
Building
900
900
Less: Accumulated depreciation
(200
)
(180
)
Equipment
2,500
2,150
Less: Accumulated depreciation
(325
)
(300
)
Patent
1,000
1,150
$
5,630
$
4,880
Liabilities
Accounts payable
$
600
$
400
Accrued liabilities
150
130
Lease liability—land
130
0
Shareholders' Equity
Common stock…
Problem 17-4 (IAA)
Pro
Forest Company provided the following information for the
preparation of a statement of cash flows for the current year
Fear
state
2020
2019
Cas!
Accc
Inve
Inve
Lan
Pro
Acc
Goc
300,000
Cash and cash equivalents
Trading securities
Accounts receivable, net of allowance
Inventory
Property, plant and equipment (net)
Goodwill
Discount on bonds payable
603,000
300,000 200,000
600,000
900,000
2,000,000
200,000
72,000
520,000
840,000
2,100,000
200,000
100,000
4,675,000
4,260,000
Acc
No
Во
Sh.
Sh
Re
Tr
490,000
310,000
800,000
800,000
210,000
1,000,000
Accounts payable
Accrued expenses
Bonds payable
Preference share capital, P100 par, each share
convertible into two ordinary shares
Ordinary share capital, P20 par
Share premium
Retained earnings
500,000
700,000
400,000
650,000
400,000
820,000
500,000
1,355,000
A
4,675,000
4,260,000
1.
Additional information
2.
1. Net income for the current year was P1,705,000.
2. Cash dividend paid during the year totaled P1,000,000.
3. The…
Free Cash FlowsUsing Rhodes Corporation’s financial statements (shown after part f), answerthe following questions.a. What is the net operating profit after taxes (NOPAT) for 2018?b. What are the amounts of net operating working capital for both years?c. What are the amounts of total net operating capital for both years?d. What is the free cash flow for 2018?
e. What is the ROIC for 2018?f. How much of the FCF did Rhodes use for each of the following purposes:after-tax interest, net debt repayments, dividends, net stock repurchases,and net purchases of short-term investments? (Hint: Remember that a netuse can be negative.)
Chapter 21 Solutions
INTERMEDIATE ACCOUNTING(LL)-W/2 ACCESS
Ch. 21 - Effects of all cash flows affect the balances of...Ch. 21 - Prob. 21.2QCh. 21 - Prob. 21.3QCh. 21 - Prob. 21.4QCh. 21 - Prob. 21.5QCh. 21 - Prob. 21.6QCh. 21 - Prob. 21.7QCh. 21 - The sale of stock and the sale of bonds are...Ch. 21 - Does the statement of cash flows report only...Ch. 21 - Prob. 21.10Q
Ch. 21 - Perhaps the most noteworthy item reported on an...Ch. 21 - Prob. 21.12QCh. 21 - Given sales revenue of 200,000, how can it be...Ch. 21 - Prob. 21.14QCh. 21 - When determining the amount of cash paid for...Ch. 21 - Prob. 21.16QCh. 21 - When using the indirect method of determining net...Ch. 21 - Prob. 21.18QCh. 21 - Prob. 21.19QCh. 21 - Where can we find authoritative guidance for the...Ch. 21 - U.S. GAAP designates cash outflows for interest...Ch. 21 - Prob. 21.1BECh. 21 - Prob. 21.2BECh. 21 - Prob. 21.3BECh. 21 - Prob. 21.4BECh. 21 - Prob. 21.5BECh. 21 - Prob. 21.6BECh. 21 - Prob. 21.7BECh. 21 - Prob. 21.8BECh. 21 - Investing activities LO215 Carter Containers sold...Ch. 21 - Financing activities LO216 Refer to the situation...Ch. 21 - Prob. 21.11BECh. 21 - Prob. 21.12BECh. 21 - Classification of cash flows LO213 through LO216...Ch. 21 - Determine cash paid to suppliers of merchandise ...Ch. 21 - Determine cash received from customers LO213...Ch. 21 - Prob. 21.4ECh. 21 - Prob. 21.5ECh. 21 - Prob. 21.6ECh. 21 - Determine cash paid for bond interest LO213...Ch. 21 - Determine cash paid for bond interest LO213 For...Ch. 21 - Determine cash paid for income taxes LO213...Ch. 21 - Prob. 21.10ECh. 21 - Prob. 21.11ECh. 21 - Installment note; statement of cash flow effects ...Ch. 21 - Prob. 21.13ECh. 21 - Identifying cash flows from investing activities...Ch. 21 - Prob. 21.15ECh. 21 - Prob. 21.16ECh. 21 - Indirect method; reconciliation of net income to...Ch. 21 - Spreadsheet entries from statement of retained...Ch. 21 - Prob. 21.19ECh. 21 - Prob. 21.20ECh. 21 - Cash flow s from operating activities (direct...Ch. 21 - Indirect method; reconciliation of net income to...Ch. 21 - Prob. 21.23ECh. 21 - Cash flows from operating activities (indirect...Ch. 21 - Prob. 21.25ECh. 21 - Cash flow s from operating activities (indirect...Ch. 21 - Prob. 21.27ECh. 21 - Prob. 21.28ECh. 21 - Prob. 21.29ECh. 21 - Prob. 21.30ECh. 21 - Prob. 21.31ECh. 21 - Prob. 21.32ECh. 21 - Prob. 21.1PCh. 21 - Statement of cash flows; direct method LO213,...Ch. 21 - Prob. 21.3PCh. 21 - Statement of cash flows; direct method LO213,...Ch. 21 - Statement of cash flows; direct method LO213,...Ch. 21 - Cash flows from operating activities (direct...Ch. 21 - Prob. 21.7PCh. 21 - Cash flows from operating activities (direct...Ch. 21 - Cash flows from operating activities (direct...Ch. 21 - Prob. 21.10PCh. 21 - Prepare a statement of cash flows; direct method ...Ch. 21 - Prob. 21.12PCh. 21 - Prob. 21.13PCh. 21 - Statement of cash flows; indirect method; limited...Ch. 21 - Integrating problem; bonds; lease transactions;...Ch. 21 - Statement of cash flows; indirect method LO214,...Ch. 21 - Prob. 21.17PCh. 21 - Statement of cash flows; indirect method LO214,...Ch. 21 - Prob. 21.19PCh. 21 - Prob. 21.20PCh. 21 - Prob. 21.21PCh. 21 - Prob. 21.1BYPCh. 21 - Prob. 21.2BYPCh. 21 - Research Case 213 Information from cash flow...Ch. 21 - Analysis Case 215 Smudged ink; find missing...Ch. 21 - Real World Case 216 Analyze cash flow activities;...Ch. 21 - Prob. 21.7BYPCh. 21 - Prob. 21.8BYPCh. 21 - Research Case 219 FASB codification; locate and...Ch. 21 - IFRS Case 2110 Statement of cash flows...Ch. 21 - Prob. CCTC
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