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EJERCICIOS PRACTICA.docx

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Ejercicio de Pr$$ctica $5$

Cash Flows Statement

The comparative balance sheet of C$.$T$.$ Green for June $30,2024$ and $2023$ is as follows:

$\backslash$table$[[$C$.$ T$.$ Green Inc.$],[$Balance Sheet$],[$June $30,2024$ and $2023],[,2024,$##$,2019,$Increase $/$ Decrease$],[$Assets$,,,,],[$Cash$,$$ $82,000,,64,800,],[$Accounts receivable,$104,800,,91,000,],[$Inventories$,127,400,,108,900,],[$Investments$,-,,90,000,],[$Land$,102,000,,-,],[$Equipment$,425,700,,329,700,],[$Accumulated depreciation$-$equipment,$(171,800),,(135,800),],[$Total assets,$ $670,100,,$$ $548,600,],[,,,,],[,,,,],[$Liabilities and Stockholders' Equity,,,,$],[$Accounts payable,$ $70,900,,$$ $63,000,],[$Accrued expenses,$6,100,,5,000,],[$Dividend payable,$14,400,,12,000,],[$Common stock, $$10$ par,$360,000,,300,000,],[$Paid$-$in capital in excess of par common stock,$31,400,,19,400,],[$Retained earinings,$187,300,,149,200,],[$Total liabilities and Stockholders' Equity,$ $670,100,,$$ $548,600,]]$

The income statement for the year ended June $30,2024,$ is as follows:

$\backslash$table$[[$C$.$ T$.$ Green Inc.$],[$Income Statement$],[30-$Jun$-24],[],[$Sales$,,$$ $1,194,000,],[$Cost of goods sold,,$708,900,],[$Groos profit,,$485,100,],[$Operating expenses:,,,$],[$Depreciation expense,$ $36,000,,],[$Other operating expenses,$336,000,,],[$Total operating expenses,,$372,000,],[$Operating income,,$113,100,],[$Other revenues and gains,,,$],[$Gain on sale of investments,,$8,000,],[$Income before income tax,,$121,100,],[$Income tax expense,,$32,600,],[$Nat inarma,,$ $88,500,]]$

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EJERCICIOS PRACTICA.docx

OK

The income statement for the year ended June $30,2024,$ is as follows:

$\backslash$table$[[$C$.$ T$.$ Green Inc.$],[$Income Statement$],[30-$Jun$-24],[,,,],[$Sales$,,$$ $1,194,000,],[$Cost of goods sold,,$708,900,],[$Groos profit,,$485,100,],[$Operating expenses:,,,$],[$Depreciation expense,$ $36,000,,],[$Other operating expenses,$336,000,,],[$Total operating expenses,,$372,000,],[$Operating income,,$113,100,],[$Other revenues and gains,,,$],[$Gain on sale of investments,,$8,000,],[$Income before income tax,,$121,100,],[$Income tax expense,,$32,600,],[$Net income,,$ $88,500,]]$

The following additional information was taken from the records of C$.$ T$.$ Green, Inc.

a$.$ Equipment and land were acquired for cash.

b$.$ The investments were sold for $$98,000.$

c$.$ The common stock was issued for cash

d$.$ There was a $$50,400$ debit to Retained Earnings for cash dividend declared.

Instructions

Prepare a statement of cash flows, using indirect method of presenting cash flows from operating activities, investing, and financing activities.

Prepare a statement of cash flows, using a direct method of presenting cash flows from operating activities.