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1. EX.16-02.ALGO Effect of Transactions on Cash Flows 2. EX. 16-03 3. EX. 16-04 4. EX.16-05.ALGO State the effect (cash receipt or payment and amount) of each of the following transactions, considered individually, on cash flows: a. Retired $270,000 of bonds, on which there was $2,700 of unamortized discount, for $281,000. b. Sold 12,000 shares of $15 par common stock for $35 per share. c. Sold equipment with a book value of $62,300 for $89,700. d. Purchased land for $550,000 cash. e. Purchased a building by paying $51,000 cash and issuing a $120,000 mortgage note payable. f. Sold a new issue of $190,000 of bonds at 99. g. Purchased 3,500 shares of $35 par common stock as treasury stock at $64 per share. h. Paid dividends of $1.70 per share. There were 19,000 shares issued and 3,000 shares of treasury stock. 5. EX.16-06.BLANKSHEET.A... 6. EX.16-11.ALGO Effect Amount 7. EX.16-17.ALGO Cash payment a. b. Cash receipt $ 8. PR. 16-01.ALGO C. Cash receipt $ d. Cash payment Cash payment e. $ f. Cash receipt g. Cash payment $ h. Cash payment $ Feedback Check My Work Identify the cash flow in each transaction. Is cash being received or paid? Ch 16-3 Exercises and Problems ebook Show Me How Calculator Printem Cash Flows fram Operating Activities-Indirect Methad 1. EX 16-02.ALGO 2. EX.16-03 3. EX.16-04 4. EX.16-05.ALGO The net income reported on the income statement for the current year was $135,300. Depreciation recorded on store equipment for the year amounted to $22,500. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $53,570 $48,750 Accounts receivable (net 39,410 36,030 Merchandise inventory 52,450 54,840 Prepaid expenses 5.890 4,630 Accounts payable (merchandise creditors) 50.200 46,120 Wages payable 27,430 30,130 5. EX 16-06,BLANKSHEETA 6. EX 16.11. ALGO 7. EX.16-17.ALGO a. Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outriows, cash payments, decreases in cash, or any negative adjustments. 8. PR. 16-01 ALGO Statement of Cash Flows (partial) Cash flows from operating act Mities: Net Income Adjustments to reconcile net income to net cash flow from operating activities: Depreciation Changes in current operating assets and abilities Increase in accounts receivable Decrease in marchandise Inventory WILI I DO Increase in prepaid expenses Increase in accounts payable Decrease in wages payable Not cash flow from operating activities o Feedback Check My Work Check My Work Omore Check My Work uses remaining. Previous Progress: 4/8 items Next > Ch 16-3 Exercises and Problems eBook Calculator Paint Item 1. EX. 16-02 ALGO 2. EX.16-03 Reporting Land Transactions on Statement of Cash Flaws On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of cash flows: ACCOUNT Land ACCOUNT NO. 3. EX.16-04 Balance 4. EX 16-05 ALGO Date Item Debit Credit Debit Credit Jan 5. EX 16-06.BLANKSHEETA. 1,078,000 1 Mar. 12 Balance Purchased for cash Sold for $201,000 367,000 6. EX. 16-11.ALGO 1,445,000 1,273,000 Oct. 172,000 7. EX.16-17 ALGO Item Section of Statement of Cash Flows Added or Deducted Amount 8. PR.16-01. ALGO Mar. 12: Purchase of fixed asset Investing activities section Deducted $ Oct. 4: Sale of fixed asset Investing activities section Added $ Gain on sale af fixed asset (assume the indirect methad) Operating activities section Deducted Ch 16-3 Exercises and Problems eBook Show Me HON Calculator Print Item 1. EX.16-02.ALGO Statement of Cash Flows-Indirect Method 2. EX.16-03 The comparative balance sheet of Olson-lones Industries Inc. for December 31, 20Y2 and 2041, is as follows: Dec. 31, Dec. 31, 2012 2011 3. EX.16-04 4. EX.16-05.ALGO Assets Cash $167 $53 5. EX. 16-06.BLANKSHEETA 95 67 Accounts receivable (net) Inventories 6. EX.16-11. ALGO 60 37 Land 136 151 7. EX 16-17 ALGO Equipment 58 (21) 8. PR. 16-01.ALGO (11) Accumulated depreciation equipment Total Assets $514 $355 $65 $53 10 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Dividends payable Common stock, si par Paid-in capital: Excess or issue price over par- camman stock 34 17 85 47 Ratained camnings 320 243 Total liabilities and stockholders' equity $514 $355 The following additional information is taken from the records: 1. Land was sold for $38. 2. Equipment was acquired for cash. 2. There were no disposals of equipment during the year. 4. The common stack was issued for cash. 5. There was a $111 credit to Retained Earnings for net income 6. There was a $34 debit to Retained Eamings for cash dividends declared. a. Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments Check My Work Omore Chack My Works remaining, Previous Progress: 7/8 items Next > Ch 16-3 Exercises and Problems eBook Show Me How Calculator Print Item 1. EX 16-02 ALGO a. Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments, 2. EX 16-03 3. EX 16-04 Olson-Jones Industries Inc. Statement of Cash Flows For the Year Ended December 31, 2012 Cash flows from operating activities: Net income 4. EX.16-05.ALGO 5. EX. 16-06.BLANKSHEET.A... 6. EX.16-11.ALGO Adjustments to reconcile net income to net cash flow from operating activities Depreciation Gain on sale of land Changes in current operating assets and liabilities: Depreciation Increase in inventories Increase in accounts payable 7. EX.16-17.ALGO 8. PR. 16-01. ALGO ( bl. QU DU Net cash flow from operating activities Cash flows from used for investing activities: Cash from sale of land Cash used for purchase of equipment Not cash flow from investing activities Cash flows from used for) financing activities: Cash from sale of common stock Cash used for dividends Nest cash flow from finanong activities Increase in cash Cash at the beginning of the year Cash at the end of the year b. Was Olson-lanes Industries Inc.'s net cash flow from operations more or less than net income? Less Check My Workomora Chack My Work uses remaining, Previous Next > Progress: 7/8 items Ch 16-3 Exercises and Problems eBook Show Me How Calculator Print Item Statement of Cash Flows-Indirect Method 1. EX.16-02.ALGO The comparative balance sheet or Merrick Equipment Co. for December 31, 2019 and 2088, is as follows: 2. EX.16-03 Dec. 31, 2019 Dec. 31, 2018 3. EX.16-04 Assets 4. EX.16-05.ALGO $208,990 $224,150 91,200 75,060 5. EX.16-06.BLANKSHEETA. Cash Accounts receivable (net) Inventories Investments Land 222,230 229,220 0 6. EX.16-11.ALGO 36,100 7. EX.16-17.ALGO 0 196,480 Equipment 117,570 252,910 (59,210) 5815,840 8. PR. 16-01 ALGO Accumulated depreciation equipment (52,980) $735,830 Total assets Liabilities and Stockholders' Equity Accounts payable $144,970 Accrued expenses payable Dividends payable Comman stock, $10 par $153,100 15,230 8,160 45,690 19,130 6,620 36,060 100,00 Pald-in capital: Excess of issue price over par common stock 171, 710 Retained earnings 451,660 429,020 Total liabilities and stockholders' equity S815,80 $735, 8:30 Additional data obtained from an examination of the accounts in the ledger for 2019 are as follows: a. Equipment and land were acquired for cash. b. There were no disposals of equipment during the year. C. The investments were sold for $77,490 cash. d. The common stock was issued for cash c. There was a $57,220 credit to Retained Earings for not income. f. There was a $24,590 debit to Retained Earnings for cash dividends declared. Required: Check My Work Omore Check My Work uses remaining Previous Progress: 8/8 items Ch 16-3 Exercises and Problems eBook Show MM Calculator E Printem 1. EX.16-02.ALGO 2. EX.16-03 adjustments. Merrick Equipment Co. Statement of Cash Flows For the Year Ended December 31, 2049 Cash flows from operating activities: Net Income Adjustments to reconcile net income tn not cash flow from operating activities: Depreciation 3. EX 16-04 4. EX 16-05.ALGO 5. EX.16-06.BLANKSHEET.A... Loss on sale of investments 6. EX.16-11. ALGO Changes in current operating arts and liabilities: Increase in accounts receivable 7. EX 16-17 ALGO Increase in inventories 8. PR. 16-01. ALGO Increase in accounts payable Decrease in accrued expenses payable i boj bll ll Net cash flow from operating activities Cash flows from (used for investing activities: Cash from sale of investments Cash used for purchase of land Cash used for purchase of equipment Net cash low used for investing act Mes Cash flows from used for financing activities Cash from sale of common stock Cash used for dividends Net cash flow from finanong acties Increase in cash Cash at the beginning of the year Cash at the end of the year Check My Work Omore Check My Work uses remaining Previous Progress: 8/8 items