Question: please help! Yoric Company listed the net changes in its balance sheet accounts for the past year as follows: Debits > Credits by: $112,500 170,100

please help!  please help! Yoric Company listed the net changes in its balance
sheet accounts for the past year as follows: Debits > Credits by:

Yoric Company listed the net changes in its balance sheet accounts for the past year as follows: Debits > Credits by: $112,500 170,100 Credits > Debits by: $ 83, 100 4,300 120,000 93,000 293,000 Cash Accounts receivable Inventory Prepaid expenses Long-term loans to subsidiaries Long-term investments Plant and equipment Accumulated depreciation Accounts payable Accrued liabilities Income taxes payable Bonds payable Common stock Retained earnings 65,400 48, 400 5,400 9,400 405,000 129,000 76,000 $807,300 $ 807,300 The following additional information is available about last year's activities: a. Net income for the year was $2 b. The company sold equipment during the year for $35,100. The equipment originally cost $160,700 and it had $126,800 in accumulated depreciation at the time of sale. c. Cash dividends of $10,500 were declared and paid during the year. d. The beginning and ending balances in the plant and Equipment and Accumulated Depreciation accounts are given below: plant and equipment Accumulated depreciation Beginning Ending $2,901,000 $3, 194,000 $ 986,200 $1,051,600 e. The balance in the Cash account at the beginning of the year was $109,100; the balance at the end of the year was $_? f. If data are not given explaining the change in an account, make the most reasonable assumption as to the cause of the change. Required: Using the Indirect method, prepare a statement of cash flows for the year. (List any deduction in cash and cash outflows as negative amounts.) Yoric Company Statement of Cash Flows Operating activities: Net income Investing activities Financing activities

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!