Below is the analysis of the Statement of Cash flow of Carpet Company. (10 marks) Dec....

    

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Below is the analysis of the Statement of Cash flow of Carpet Company. (10 marks) Dec. 31, Analysis of Changes Prior Year Debit Balance sheet--debits Cash Accounts receivable Inventory Equipment Total Debits Balance sheet-credits Accum degr -Equip. Accounts payable Income taxes payable Common stock, $5 par value Paid-in capital in excess of par value, common stock Retained earnings Total Credits Statement of cash flows Operating activities Net income Decrease in accounts receivable Increase in inventory Decrease in accounts payable Decrease in income taxes payable Depreciation expense Investing activities Payment for equipment Financing activities Issued common stock for cash Paid cash dividends $100,000 $80,000 $150,000 $150,000 $480,000 I (c) (2) Of $50,000 $15,000 (d) $15,000 Ⓒ $250,000 $20,000 $130,000 $480,000 a. Net income was b. Accounts receivable decreased c. Inventory increased d. Accounts payable decreased e. Income taxes payable decreased f. Depreciation expense was @ (a) (b) (f) (h) $40,000 65,000 5,000 5,000 20,000 60,000 10,000 10,000 60,000 $275,000 (b) 10,000.00 g. Purchased equipment for cash h. Issued 3,000 shares at $20 cash per share Common stock, $5 par value x 3,000 shares Paid-in capital in excess of par value, common stock į. Declared and paid cash dividends. (1) 10,000 (h) CEE (h) (a) (c) (d) Credit @ 15,000 45,000 60,000 40,000 5,000 5,000 65,000 20.000 $275.000 The analysis of changes columns with letters correspond to the following list of transactions and events. Dec. 31, Current 60,000 (10,000) 40,000 (5,000) (5,000) 10,000 65,000 15,000 | 45,000 20,000 $105,000 $70,000 $190,000 $215,000 $580,000 $60,000 $10,000 $10,000 $265,000 $65,000 $170,000 $580,000 Requirement. Using the spreadsheet analysis of Cash Flow Statement, prepare Statement of Cash Flow. Use the template provided to you. (1 mark each x10=10 marks) Below is the analysis of the Statement of Cash flow of Carpet Company. (10 marks) Dec. 31, Analysis of Changes Prior Year Debit Balance sheet--debits Cash Accounts receivable Inventory Equipment Total Debits Balance sheet-credits Accum degr -Equip. Accounts payable Income taxes payable Common stock, $5 par value Paid-in capital in excess of par value, common stock Retained earnings Total Credits Statement of cash flows Operating activities Net income Decrease in accounts receivable Increase in inventory Decrease in accounts payable Decrease in income taxes payable Depreciation expense Investing activities Payment for equipment Financing activities Issued common stock for cash Paid cash dividends $100,000 $80,000 $150,000 $150,000 $480,000 I (c) (2) Of $50,000 $15,000 (d) $15,000 Ⓒ $250,000 $20,000 $130,000 $480,000 a. Net income was b. Accounts receivable decreased c. Inventory increased d. Accounts payable decreased e. Income taxes payable decreased f. Depreciation expense was @ (a) (b) (f) (h) $40,000 65,000 5,000 5,000 20,000 60,000 10,000 10,000 60,000 $275,000 (b) 10,000.00 g. Purchased equipment for cash h. Issued 3,000 shares at $20 cash per share Common stock, $5 par value x 3,000 shares Paid-in capital in excess of par value, common stock į. Declared and paid cash dividends. (1) 10,000 (h) CEE (h) (a) (c) (d) Credit @ 15,000 45,000 60,000 40,000 5,000 5,000 65,000 20.000 $275.000 The analysis of changes columns with letters correspond to the following list of transactions and events. Dec. 31, Current 60,000 (10,000) 40,000 (5,000) (5,000) 10,000 65,000 15,000 | 45,000 20,000 $105,000 $70,000 $190,000 $215,000 $580,000 $60,000 $10,000 $10,000 $265,000 $65,000 $170,000 $580,000 Requirement. Using the spreadsheet analysis of Cash Flow Statement, prepare Statement of Cash Flow. Use the template provided to you. (1 mark each x10=10 marks)

Answer rating: 100% (QA)

CARPET COMPANY CASHFLOW AS AT 31 DECEMBER Cashflow from Operating ... View the full answer