Chapter 16 HW Assignments Statement of Cash Flows The comparative balance sheet of Whitman Co. at...

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Chapter 16 HW Assignments Statement of Cash Flows The comparative balance sheet of Whitman Co. at December 31, 20Y2 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $532,180 $ 571,220 Accounts receivable (net) 484,280 441,710 Inventories 734,410 675,870 Prepaid expenses 17,030 20,220 Land 183,070 276,730 Buildings 846,170 521,540 Accumulated depreciation-buildings (239,480) (223,520) Equipment 298,020 263,430 Accumulated depreciation-equipment (81,960) (92,070) Total assets $2,773,720 $2,455,130 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Bonds payable Common stock, $20 par $527,010 $ 556,130 155,330 0 184,000 68,000 Excess of paid-in capital over par 440,000 324,000 Retained earnings 1,467,380 1,507,000 Total liabilities and stockholders' equity $2,773,720 $2,455,130 > The noncurrent asset, noncurrent liability, and stockholders' equity accounts for 20Y2 are as follows: ACCOUNT Land ACCOUNT NO. Date Balance Item Debit Credit Debit Credit 20Y2 Jan. 1 Balance Apr. 20 Realized $87,100 cash from sale ACCOUNT Buildings Date 20Y2 Jan. 1 Balance 276,730 93,660 183,070 ACCOUNT NO. Balance Item: Debit Credit Debit Cred Apr. 20 Acquired for cash 324,630 521,540 846,170 hapter 16 HW Assignments ACCOUNT Accumulated Depreciation-Buildings Date 20Y2 Item Jan. 1 Balance Dec. 31 Depreciation for year ACCOUNT Equipment Date 20Y2 ACCOUNT NO. Balance Debit Credit Debit 15,960 Credit 223,520 239,480 ACCOUNT NO. Balance Item Debit Credit Debit Credit Jan. 1 Balance Jan. 26 Discarded, no salvage Aug. 11 Purchased for cash 263,430 29,000 234,430 63,590 298,020 Chapter 16 HW Assignments ACCOUNT Accumulated Depreciation-Equipment > Date 20Y2 Item ACCOUNT NO. Balance Debit Credit Debit Jan. 1 Balance Jan. 26 Equipment discarded 29,000 Dec. 31 Depreciation for year 18,890 ACCOUNT Bonds Payable Credit 92,070 63,070 81,960 ACCOUNT NO. Balance Item Debit Credit Debit Credit Date 20Y2 May 1 Issued 10-year bonds 155,330 155,330 hapter 16 HW Assignments ACCOUNT Common Stock, $20 par ACCOUNT NO. Balance Item Debit Credit Debit Credit Date 20Y2 Jan. 1 Balance Dec. 7 Issued 5,800 shares of common stock for $40 per share ACCOUNT Paid-in Capital in Excess of Par-Common Stock Date 20Y2 Jan. 1 Balance Item Dec. 7 Issued 5,800 shares of common stock for $40 per share 68,000 116,000 184,000 ACCOUNT NO. Balance Debit Credit Debit Credit 324,000 116,000 440,000 Chapter 16 HW Assignments stock for $40 per share ACCOUNT Retained Earnings Date ACCOUNT NO. Balance Item: Debit Credit Debit Credit 20Y2 Jan. 1 Balance Dec. 31 Net loss Dec. 31 Cash dividends Required: 19,080 20,540 1,507,000 1,487,920 1,467,380 Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) operating activities. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. Whitman Co. Statement of Cash Flows For the Year Ended December 31, 20Y2 Cash flows from (used for) operating activities: Adjustments to reconcile net loss to net cash flows from (used for) operating activities: Chapter 16 HW Assignments Changes in current operating assets and liabilities: Q 0. 000 Net cash flows used for operating activities Cash flows from (used for) investing activities: Net cash flows used for investing activities > Cash flows from (used for) financing activities: B Net cash flows from financing activities Cash balance, January 1, 20Y2 Net cash flows from financing activities Cash balance, January 1, 2012 Cash balance, December 31, 20Y2 Accounting numeric field Chapter 16 HW Assignments Statement of Cash Flows The comparative balance sheet of Whitman Co. at December 31, 20Y2 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $532,180 $ 571,220 Accounts receivable (net) 484,280 441,710 Inventories 734,410 675,870 Prepaid expenses 17,030 20,220 Land 183,070 276,730 Buildings 846,170 521,540 Accumulated depreciation-buildings (239,480) (223,520) Equipment 298,020 263,430 Accumulated depreciation-equipment (81,960) (92,070) Total assets $2,773,720 $2,455,130 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Bonds payable Common stock, $20 par $527,010 $ 556,130 155,330 0 184,000 68,000 Excess of paid-in capital over par 440,000 324,000 Retained earnings 1,467,380 1,507,000 Total liabilities and stockholders' equity $2,773,720 $2,455,130 > The noncurrent asset, noncurrent liability, and stockholders' equity accounts for 20Y2 are as follows: ACCOUNT Land ACCOUNT NO. Date Balance Item Debit Credit Debit Credit 20Y2 Jan. 1 Balance Apr. 20 Realized $87,100 cash from sale ACCOUNT Buildings Date 20Y2 Jan. 1 Balance 276,730 93,660 183,070 ACCOUNT NO. Balance Item: Debit Credit Debit Cred Apr. 20 Acquired for cash 324,630 521,540 846,170 hapter 16 HW Assignments ACCOUNT Accumulated Depreciation-Buildings Date 20Y2 Item Jan. 1 Balance Dec. 31 Depreciation for year ACCOUNT Equipment Date 20Y2 ACCOUNT NO. Balance Debit Credit Debit 15,960 Credit 223,520 239,480 ACCOUNT NO. Balance Item Debit Credit Debit Credit Jan. 1 Balance Jan. 26 Discarded, no salvage Aug. 11 Purchased for cash 263,430 29,000 234,430 63,590 298,020 Chapter 16 HW Assignments ACCOUNT Accumulated Depreciation-Equipment > Date 20Y2 Item ACCOUNT NO. Balance Debit Credit Debit Jan. 1 Balance Jan. 26 Equipment discarded 29,000 Dec. 31 Depreciation for year 18,890 ACCOUNT Bonds Payable Credit 92,070 63,070 81,960 ACCOUNT NO. Balance Item Debit Credit Debit Credit Date 20Y2 May 1 Issued 10-year bonds 155,330 155,330 hapter 16 HW Assignments ACCOUNT Common Stock, $20 par ACCOUNT NO. Balance Item Debit Credit Debit Credit Date 20Y2 Jan. 1 Balance Dec. 7 Issued 5,800 shares of common stock for $40 per share ACCOUNT Paid-in Capital in Excess of Par-Common Stock Date 20Y2 Jan. 1 Balance Item Dec. 7 Issued 5,800 shares of common stock for $40 per share 68,000 116,000 184,000 ACCOUNT NO. Balance Debit Credit Debit Credit 324,000 116,000 440,000 Chapter 16 HW Assignments stock for $40 per share ACCOUNT Retained Earnings Date ACCOUNT NO. Balance Item: Debit Credit Debit Credit 20Y2 Jan. 1 Balance Dec. 31 Net loss Dec. 31 Cash dividends Required: 19,080 20,540 1,507,000 1,487,920 1,467,380 Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) operating activities. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. Whitman Co. Statement of Cash Flows For the Year Ended December 31, 20Y2 Cash flows from (used for) operating activities: Adjustments to reconcile net loss to net cash flows from (used for) operating activities: Chapter 16 HW Assignments Changes in current operating assets and liabilities: Q 0. 000 Net cash flows used for operating activities Cash flows from (used for) investing activities: Net cash flows used for investing activities > Cash flows from (used for) financing activities: B Net cash flows from financing activities Cash balance, January 1, 20Y2 Net cash flows from financing activities Cash balance, January 1, 2012 Cash balance, December 31, 20Y2 Accounting numeric field