1] The following information is available for Blasser Company. In preparation of the Statement of Cash...
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1] The following information is available for Blasser Company. In preparation of the Statement of Cash Flows Net Income Depreciation Expense $187,500 $49,500 Loss on sale of equipment $3,000 Increase in accounts receivable $63,000 Increase in inventory $81,000 Decrease in pre-paid expenses $3,000 Decrease in accounts payable $10,500 2] The following information is available for Stanzer Company. In preparation of the Statement of Cash Flows Payment of Accounts Payable $514,000 Collection of Note Receivable $65,000 Issuance of Common Stock $160,000 Purchase of Treasury Stock $30,250 Payment of Dividends $235,000 3] The accountant for the Beltrade Company has compiled the following additional information, after completing the Income statement, Balance Sheet and Statement of Retained Earnings. (a) The company sustained a net loss for the year of $55,500. (b) During the year, 10,000 shares of common stock with a stated value of $10 a share were issued for $33 a share. (c) Uncollectible accts receivable in the amount of $42,000 were written off against Allowance for Doubtful Accounts. (d) Depreciation for the period amounted to $22,000 (e) A gain of $9,000 was realized on the sale of land for $39,000 cash. (f) Patent amortization for the year was $23,500. (g)The Income Statement included income of $15,000 from Beltrade's 30% investment in the Dapper Company. (h) During the year, treasury stock costing $47,000 was purchased. (i) A car with book value of $12,000 was exchanged for a van with book value of $12,000. Useful lives were same for both. In preparing the Statement of Cash Flows using the indirect method, compute the effects of the transactions on the Cash Flows from Operating Activities section of the report. 1] The following information is available for Blasser Company. In preparation of the Statement of Cash Flows Net Income Depreciation Expense $187,500 $49,500 Loss on sale of equipment $3,000 Increase in accounts receivable $63,000 Increase in inventory $81,000 Decrease in pre-paid expenses $3,000 Decrease in accounts payable $10,500 2] The following information is available for Stanzer Company. In preparation of the Statement of Cash Flows Payment of Accounts Payable $514,000 Collection of Note Receivable $65,000 Issuance of Common Stock $160,000 Purchase of Treasury Stock $30,250 Payment of Dividends $235,000 3] The accountant for the Beltrade Company has compiled the following additional information, after completing the Income statement, Balance Sheet and Statement of Retained Earnings. (a) The company sustained a net loss for the year of $55,500. (b) During the year, 10,000 shares of common stock with a stated value of $10 a share were issued for $33 a share. (c) Uncollectible accts receivable in the amount of $42,000 were written off against Allowance for Doubtful Accounts. (d) Depreciation for the period amounted to $22,000 (e) A gain of $9,000 was realized on the sale of land for $39,000 cash. (f) Patent amortization for the year was $23,500. (g)The Income Statement included income of $15,000 from Beltrade's 30% investment in the Dapper Company. (h) During the year, treasury stock costing $47,000 was purchased. (i) A car with book value of $12,000 was exchanged for a van with book value of $12,000. Useful lives were same for both. In preparing the Statement of Cash Flows using the indirect method, compute the effects of the transactions on the Cash Flows from Operating Activities section of the report.
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To prepare the Statement of Cash Flows using the indirect method we need to categorize the given information into three sections operating activities investing activities and financing activities Oper... View the full answer
Related Book For
Intermediate Accounting Reporting and Analysis
ISBN: 978-1285453828
2nd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
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