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Required: 1. Prepare the SCF. (Deductible amounts and Cash outflows should be indicated with minus sign.) Answer is not complete. GRAND CORP Statement of Cash Flows For the year ended 31 December 20X2 Operations: Net earnings Add: Depreciation expense $ 170,200 25,400

Required: 1. Prepare the SCF. (Deductible amounts and Cash outflows should be indicated with minus sign.) Answer is not complete. GRAND CORP Statement of Cash Flows For the year ended 31 December 20X2 Operations: Net earnings Add: Depreciation expense $ 170,200 25,400

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter9: Metric-analysis Of Financial Statements
Section: Chapter Questions
Problem 9.1E
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Sales Cost of goods sold Depreciation Other operating expenses Income tax Loss on sale of equipment Gain on sale of investment Net earnings and comprehensive income As at December 31 Cash Accounts receivable Inventory Equipment Less: accumulated depreciation Investment Total Accounts payable Income tax payable Bonds payable Common shares Retained earnings Total $193,800 25,400 76,100 43,800 3,000 (2,300) 20X2 $ 69,300 89,600 187,700 556,300 (231, 200) 54,700 $ 726,400 $ $510,000 339,800 $170, 200 20X1 $ 55,200 102, 600 175,400 475,400 (229,100) 79,000 $ 658,500 62,000 10,000 45,700 307, 200 301,500 $ 726,400 $ 658,500 $ 104,100 7,000 307, 200 240, 200 Additional information: During the year, equipment with an original cost of $99,800 was sold for cash.
Transcribed Image Text:Sales Cost of goods sold Depreciation Other operating expenses Income tax Loss on sale of equipment Gain on sale of investment Net earnings and comprehensive income As at December 31 Cash Accounts receivable Inventory Equipment Less: accumulated depreciation Investment Total Accounts payable Income tax payable Bonds payable Common shares Retained earnings Total $193,800 25,400 76,100 43,800 3,000 (2,300) 20X2 $ 69,300 89,600 187,700 556,300 (231, 200) 54,700 $ 726,400 $ $510,000 339,800 $170, 200 20X1 $ 55,200 102, 600 175,400 475,400 (229,100) 79,000 $ 658,500 62,000 10,000 45,700 307, 200 301,500 $ 726,400 $ 658,500 $ 104,100 7,000 307, 200 240, 200 Additional information: During the year, equipment with an original cost of $99,800 was sold for cash.
Required: 1. Prepare the SCF. (Deductible amounts and Cash outflows should be indicated with minus sign.) GRAND CORP Statement of Cash Flows For the year ended 31 December 20X2 Operations: Net earnings Add: Depreciation expense Add: Loss on sale of equipment Less: Gain on sale of investment Decrease in accounts receivable Decrease in accounts payable Increase in inventory Increase in income tax payable Answer is not complete. Investing activities: Purchase of equipment Proceeds on sale of equipment Proceeds on sale of investment Financing activities: Issued bond Dividends paid Opening cash Closing cash $ 170,200 25,400 3,000 (2,300) $ 196,300 13,000 (42,100) (12,300) 3,000 (180,700) 73,500 26,600 45,700 (108,900) $ 157,900 (80,600) (63,200) 55,200 $ 55,200
Transcribed Image Text:Required: 1. Prepare the SCF. (Deductible amounts and Cash outflows should be indicated with minus sign.) GRAND CORP Statement of Cash Flows For the year ended 31 December 20X2 Operations: Net earnings Add: Depreciation expense Add: Loss on sale of equipment Less: Gain on sale of investment Decrease in accounts receivable Decrease in accounts payable Increase in inventory Increase in income tax payable Answer is not complete. Investing activities: Purchase of equipment Proceeds on sale of equipment Proceeds on sale of investment Financing activities: Issued bond Dividends paid Opening cash Closing cash $ 170,200 25,400 3,000 (2,300) $ 196,300 13,000 (42,100) (12,300) 3,000 (180,700) 73,500 26,600 45,700 (108,900) $ 157,900 (80,600) (63,200) 55,200 $ 55,200
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