Question Content Area

A spreadsheet for a statement of cash flows is presented below along with additional information.

Additional information:

Net income was $508.

Dividends paid amounted to $16.

Last year, depreciation expense was inadvertently understated by $60. The appropriate correction was made this year. The company also received a related income tax refund of $10.

Six shares of $100 par common stock were issued as a small stock dividend. The current market value of the stock was $700 (in total).

Bonds payable were issued for $50. One year of amortization was recorded.

The treasury stock was reissued for $60.

The preferred stock was converted to an equal number of common shares. The book value method was used.

Property, plant, and equipment costing $200 was sold for a $120 gain. The assets were 90% depreciated.

Required: Complete the spreadsheet: If more than one debit or credit entry in "Spreadsheet Entries" combine into one entry.

Spreadsheet
	Change Increase or (Decrease)	Spreadsheet Entries
Account Titles		Debit	Credit
Cash	190
Accounts receivable	400
Inventory	(150)
Property, plant, and equipment	244
Patents	(20)
Discount on bonds payable	8
Treasury stock	(40)
Accumulated depreciation	10
Accounts payable	300
Salaries payable	(200)
Bonds payable	60
Preferred stock	(400)
Premium on preferred stock	(100)
Common stock	1,000
Additional paid-in capital	220
Retained earnings	(258)
Cash Flows from Operating Activities:
Cash Flows from Investing Activities:
Cash Flows from Financing Activities:
Investing and Financing Activities Not Affecting Cash: