Yoric Company listed the net changes in its balance sheet accounts for the past year as...

 

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Yoric Company listed the net changes in its balance sheet accounts for the past year as follows: Debits > credits by: credits > Debits by: 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 Connon stock Retained earnings $ 74,000 170,100 96,000 334,000 5,400 Plant and equipment Accumulated depreciation 121,000 $ 800,500 $ 84,500 4,600 112,000 65,100 45,500 9,200 401,000 The following additional information is available about last year's activities Beginning Ending $2,859,000 $3,193,000 $ 976,100 $1,041,200 75,300 $800,500 Net Incon for the year was $? b. The company sold equipment during the year for $35,500. The equipment originally cost $160,500 and it had $126,400 in accumulated depreciation at the time of sale. c. Cash dividends of $10,900 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. e. The balance in the Cash account at the beginning of the year was $109,500, the balance at the end of the year was $? tif 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 listed the net changes in its balance sheet accounts for the past year as follows: Debits > credits by: credits > Debits by: 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 Connon stock Retained earnings $ 74,000 170,100 96,000 334,000 5,400 Plant and equipment Accumulated depreciation 121,000 $ 800,500 $ 84,500 4,600 112,000 65,100 45,500 9,200 401,000 The following additional information is available about last year's activities Beginning Ending $2,859,000 $3,193,000 $ 976,100 $1,041,200 75,300 $800,500 Net Incon for the year was $? b. The company sold equipment during the year for $35,500. The equipment originally cost $160,500 and it had $126,400 in accumulated depreciation at the time of sale. c. Cash dividends of $10,900 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. e. The balance in the Cash account at the beginning of the year was $109,500, the balance at the end of the year was $? tif 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)

Answer rating: 100% (QA)

Statement of Cash Flows for Yoric Company Data Amount Net income 231600 Adjustments to reconcile net ... View the full answer