Question

The records of Rangler Paper Company provided the selected data given below for the reporting period ended 31 December 20X5.
Statement of financial position data
Paid cash dividend....................... $ 10,000
Established restricted construction cash fund ( a long- term
investment) to build a new building ...............60,000
Increased inventory of merchandise ............... 14,000
Borrowed on a long- term note ............... 25,000
Acquired five acres of land for a future site for the company; paid in
full by issuing 3,000 shares of Rangler common shares, when the
quoted market price per share was ............... $ 15 45,000
Increase in prepaid expenses ................. 3,000
Decrease in accounts receivable ............... 7,000
Payment of bonds payable in full at book value......... 97,000
Increase in accounts payable .................. 5,000
Cash from disposal of old operational assets (sold at book value).... 12,000
Decrease in rent receivable ................... 2,000
Statement of comprehensive income
Sales revenue ........................ $ 400,000
Rent revenue ........................ 10,000
Cost of goods sold ...................... (190,000)
Depreciation expense..................... (20,000)
Remaining expenses ...................... (97,000)
Net earnings and comprehensive income ............. $ 103,000

Required:
Prepare the SCF. Use the indirect method for operations. Separate disclosure of cash paid for interest and income tax and investment income is not required. Group all changes in non- cash working capital in operations as one amount. Assume a beginning cash balance of $62,000.


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  • CreatedFebruary 17, 2015
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