ws EX 16-17 Statement of cash flows OBJ. 5 The comparative balance sheet of Hirayama Industries...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
ws EX 16-17 Statement of cash flows OBJ. 5 The comparative balance sheet of Hirayama Industries Inc. for December 31, 2012 and 20Y1, is as follows: Cash.... Accounts receivable (net).. Inventories.. Land.... Assets Equipment..... Accumulated depreciation-equipment.. Total assets.... Liabilities and Stockholders' Equity Accounts payable (merchandise creditors).. Dividends payable... Common stock, $1 par... Paid-in capital in excess of par.. Retained earnings.......... Total liabilities and stockholders' equity.... Dec. 31, 20Y2 Dec. 31, 20Y1 $234 70 150 320 262 (87) $949 $ 65 6 160 109 609 $949 $ 18 63 127 422 224 (54) $800 $ 47 102 90 561 $800 (Continued) The following additional information is taken from the records: 1. Land was sold for $153. b. 2. Equipment was acquired for cash. 3. There were no disposals of equipment during the year. 4. The common stock was issued for cash. 5. There was a $79 credit to Retained Earnings for net income. 6. There was a $31 debit to Retained Earnings for cash dividends declared. a. Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) operating activities. Was Hirayama Industries Inc.'s net cash flows from operations more or less. than net income? What is the source of this difference? ws EX 16-17 Statement of cash flows OBJ. 5 The comparative balance sheet of Hirayama Industries Inc. for December 31, 2012 and 20Y1, is as follows: Cash.... Accounts receivable (net).. Inventories.. Land.... Assets Equipment..... Accumulated depreciation-equipment.. Total assets.... Liabilities and Stockholders' Equity Accounts payable (merchandise creditors).. Dividends payable... Common stock, $1 par... Paid-in capital in excess of par.. Retained earnings.......... Total liabilities and stockholders' equity.... Dec. 31, 20Y2 Dec. 31, 20Y1 $234 70 150 320 262 (87) $949 $ 65 6 160 109 609 $949 $ 18 63 127 422 224 (54) $800 $ 47 102 90 561 $800 (Continued) The following additional information is taken from the records: 1. Land was sold for $153. b. 2. Equipment was acquired for cash. 3. There were no disposals of equipment during the year. 4. The common stock was issued for cash. 5. There was a $79 credit to Retained Earnings for net income. 6. There was a $31 debit to Retained Earnings for cash dividends declared. a. Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) operating activities. Was Hirayama Industries Inc.'s net cash flows from operations more or less. than net income? What is the source of this difference?
Expert Answer:
Related Book For
Financial accounting
ISBN: 978-0132751124
9th edition
Authors: Walter T. Harrison Jr., Charles T. Horngren, C. William Thom
Posted Date:
Students also viewed these accounting questions
-
The comparative balance sheet of Hirayama Industries Inc. for December 31, 20Y2 and 20Y1, is as follows: The following additional information is taken from the records: 1. Land was sold for $153. 2....
-
The comparative balance sheet of Mavenir Technologies Inc. for December 31, 2010 and 2009, is as follows: The income statement for the year ended December 31, 2010, is as follows: The following...
-
The comparative balance sheet of Cantor Industries, Inc. at December 31, 2010 and 2009, is as follows: The noncurrent asset, noncurrent liability, and stockholders equity accounts for 2010 are as...
-
A particle is thrown vertically upwards into the air. Its height s (in m) above the ground after time t (in seconds) is given by s = 25t 5t 2 (a) What height does the particle reach? (b)What is its...
-
A U.S. firm is expecting to pay cash flows of 15 million Egyptian pounds and 25 million Qatar rials. The current spot exchange rates are: $1 = 5.725 pounds and $1 = 3.639 rials. If these cash flows...
-
Thornton fraudulently represented to Daye that he would obtain for her a new car to be used in Dayes business for $17,800 from Pennek Motor Company. Daye thereupon executed her personal check for...
-
White Company can invest in one of two projects, TD1 or TD2. Each project requires an initial investment of $101,250 and produces the year-end cash inflows shown in the following table. Required 1....
-
Rozema, Inc., produces chemicals for large biotech companies. It has the following data for manufacturing overhead costs during August 2013: Use F for favorable and U forunfavorable: Fixed $18,000...
-
A 15 kg box is given a shove to the right on a horizontal, rough surface. After the hand loses contact, the box's acceleration (using standard directions) is a = (-1.2 m/s, 0). (a) What are the...
-
Using the information presented in Problem 13.4B, prepare a partial statement of cash flows for the current year, showing the computation of net cash flows from operating activities using the...
-
Question 4 (Options Arbitrage - 30 marks) The price of a non-dividend paying stock is currently $140. In one year's time the stock price will be either $160 or $120. The risk free rate with...
-
National Computers, Inc., was incorporated in Nebraska, has its main office in Kansas, and does business in Missouri. National is subject to the jurisdiction of a. Nebraska, Kansas, and Missouri. b....
-
Prager University provides, among other things, short videos for high school, college, and graduate school-age audiences. It shares them regularly on the internet, usually through posting on YouTube,...
-
An exculpatory clause may or may not be enforced. true/false
-
Define contract.
-
Heesham Broussard obtained counterfeit money instruments. To distribute them, he used account information and numbers on compromised FedEx accounts procured from hackers. Text messages from Broussard...
-
Below are the financial results of two companies over two years. Company A Company B Company A Company B Total 2021 2021 2020 2020 150 Revenues 1000 10 1000 20 2030 Profit 100 5 -150 5 -40 Profit...
-
Calculate the number of neutrons of 239Pu.
-
Journalize the following transactions of Alameda Productions: Jan 21 Issued 1,800 shares of $1.25 par common stock at $13 per share. Jun 23 Purchased 500 shares of treasury stock at $15 per share....
-
Use the data in Problem P11-48A to prepare the Crowley Cosmetics statement of retained earnings for the year ended December 31, 2012. Use the Statement of Retained Earnings for Maxim, Inc., in the...
-
Copperhead, Inc., has the following stockholders equity: That company has passed its preferred dividends for three years including the current year. Compute the book value per share of the companys...
-
Fitch and Wall have been in partnership for many years sharing profits and losses in the ratio 5:3 respectively. The following was their statement of financial position as at 31 December 2016: On 1...
-
When you were looking at goodwill in the previous chapter, you were interested in the difference between the amount received and the value of net assets. Why do we consider only the assets when there...
-
Alan, Bob and Charles are in partnership sharing profits and losses in the ratio 3:2:1 respectively. The statement of financial position for the partnership as at 30 June 2016 is as follows: Charles...
Control And Optimization Methods For Electric Smart Grids 1st Edition - ISBN: 1489997091 - Free Book
Study smarter with the SolutionInn App