Question: Using the following information prepare a cash flow statement. Hamilton Beach Company Comparative Balance Sheets December 31, 2015 and 2014 Assets 2014 2015 Difference Cash

Using the following information prepare a cash flow statement.

Hamilton Beach Company

Comparative Balance Sheets

December 31, 2015 and 2014

Assets

2014

2015

Difference

Cash

15,000

47,000

32,000

Accounts Receivable

55,000

47,000

(8,000)

Inventory

110,000

144,000

34,000

Prepaid Expenses

5,000

1,000

(4,000)

Long Term Investments

127,000

115,000

(12,000)

Land

55,000

55,000

-

Building & Equipment

450,000

660,000

210,000

Accumulated Depr-Building & Equipt

(68,000)

(103,000)

(35,000)

Total Assets

749,000

966,000

217,000

Liabilities & Stockholder's Equity

Accounts Payable

43,000

50,000

7,000

Income Tax Payable

5,000

3,000

(2,000)

Accrued Liabilities

9,000

12,000

3,000

Bonds Payable

245,000

295,000

50,000

Common Stock $5 par value

200,000

276,000

76,000

Additional paid in capital

115,000

214,000

99,000

Retained Earnings

132,000

141,000

9,000

Treasury Stock

-

(25,000)

(25,000)

Total Liabilities & Stockholders Equity

749,000

966,000

217,000

Additional Information:

1. Net Income $16,000

2. Building & Equipment Depreciation $37,000

3. Sold Investments for $102,000 on which there was a gain of $12,000

4. Sold for $5,000 equipment that cost $10,000 and had accumulated depreciation of $2,000

5. Issued 15,200 shares of $5 par value common stock for $175,000

6. Issued $100,000 of long term bonds in a noncash transaction for buildings

7. Repaid a bond in the amount of $50,000

8. Equipment and building purchased for $120,000

9. Paid dividends of $7,000

10. Purchased investments $78,000

11. Purchased treasury stock in the amount of $25,000

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!