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: 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 Debits > Credits by: Credits > Debits by: $ 133,600 170,300 $ 83,800 4,200 112,000 96,000 278,000 65,900 49,000 5,900 9,400 404,000 121,000 76,500 $ 804,800 $ 804,800 The following additional information is available about last year's activities: a. Net income for the year was $ 7 b. The company sold equipment during the year for $35,600. The equipment originally cost $160,500 and it had $126,600 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: Plant and equipment Accumulated depreciation Beginning $ 2,918,000 Ending $ 3,196,000 $ 974,600 $ 1,040,500 e. The balance in the Cash account at the beginning of the year was $109,300; 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 listed the net changes in its balance sheet accounts for the past year as follows: 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 Debits > Credits by: Credits > Debits by: $ 133,600 170,300 $ 83,800 4,200 112,000 96,000 278,000 65,900 49,000 5,900 9,400 404,000 121,000 76,500 $ 804,800 $ 804,800 The following additional information is available about last year's activities: a. Net income for the year was $ 7 b. The company sold equipment during the year for $35,600. The equipment originally cost $160,500 and it had $126,600 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: Plant and equipment Accumulated depreciation Beginning $ 2,918,000 Ending $ 3,196,000 $ 974,600 $ 1,040,500 e. The balance in the Cash account at the beginning of the year was $109,300; 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.)
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