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Student Name:
Class:
80,000$
18,000$
(50,000)
(2,600)
(17,000)
(51,600)
28,400
(50,000)
(50,000)
50,000
10,000
60,000
38,400
39,500
77,900$
Correct!
Net cash provided by operating activities
Total adjustments
Decrease in accounts payable
Increase in merchandise inventory
Cash Flows from Operating Activities
Increase in accounts receivable
Depreciation
Adjustments:
Net Income for year
Cash Flows from financing Activities
Net cash used in investing activities
Purchase of equipment
Cash Flows from Investing Activities
Cash, December 31, 2013
Cash, January 1, 2013
Net increase in cash
Net cash provided from financing activities
Proceeds from issuance of common stock
Proceeds from issuance of bonds payable
McGraw-Hill
Instructor
Year Ended December 31, 2013
Statement of Cash Flows
COLE, INC.
Problem 24.01A
2013 2012
77,900 39,500
129,600 79,600
45,600 43,000
240,000 190,000
(37,000) (19,000)
456,100 333,100
45,000 62,000
150,000 100,000
195,000 162,000
60,000 50,000
201,100 121,100
261,100 171,100
456,100 333,100
80,000$
COLE, INC.
Accounts Payable
Total Assets
Less: Accumulated Depreciation
Liabilities
Given Data P24.01A
Property, Plant, and Equipment
Merchandise Inventory
Accounts Receivable (net)
Cash
a. Net Income
5,000 shares issued in 2012 and 6,000 shares
Common Stock ($1 par, 50,000 shares authorized)
Total Liabilities
Bonds Payable
Stockholders' Equity
Additional Information for 2013:
Comparative Balance Sheet
December 31, 2013 and 2012
Assets
Liabilities and Stockholders' Equity
Total Liabilities and Stockholders' Equity
Total Stockholders' Equity
Retained Earnings
issued in 2013)
Student Name:
Class:
55,200
15,000
(3,650)
5,000
2,000
(28,550)
1,000
(1,000)
1,000
(9,200)
46,000
McGraw-Hill
Statement of Cash Flows
Year Ended December 31, 2013
JACKSON CORPORATION
Increase in accounts receivable
Depreciation
Adjustments:
Net Income
Cash Flows from Operating Activities
Problem 24.03A
Increase in income taxes payable
Decrease in unearned revenues
Increase in salaries payable
Decrease in accounts payable
Decrease in prepaid advertising
Decrease in inventories
Cash Flows from Investing Activities
Net cash provided by operating activities
Total adjustments
Instructor
675,500
429,000
125,000
15,000
14,900
18,000
601,900
73,600
Given Data P24.03A
Net Income Before Income Taxes
Total Costs and Expenses
Cost of Goods Sold
Costs and Expenses
Revenues
Utilities Expense
Advertising Expense
Depreciation Expense
Salaries Expense
JACKSON CORPORATION
Comparative Income Statement
Year Ended December 31, 2013
e. Paid cash to retire long-term note payable
Student Name:
Class:
73,575
9,000
10,000
(18,750)
(8,650)
(1,000)
(20,300)
(250)
(29,950)
43,625
Problem 24.04A
McGraw-Hill
Instructor
Adjustments:
Net Income for Year
Cash Flows from Operating Activities
SHORT COMPANY
Statement of Cash Flows
Year Ended December 31, 2013
Decrease in accounts payable
Decrease in prepaid rent
Decrease in merchandise inventory
Increase in accounts receivable
Loss on sale of equipment
Depreciation
Cash Flows from Investing Activities
Net cash provided by operating activities
Total adjustments
Increase in income tax payable
2013 2012
116,875 53,250
86,000 67,250
82,650 74,000
5,500 4,500
85,000 25,000
189,000 219,000
(20,900) (21,900)
30,000 50,000
Given Data P24.04A
Investment in TVA Bonds
Less: Accumulated Depreciation-PPE
Accounts Receivable (Net)
Cash
Property, Plant, and Equipment
Land
Prepaid Rent
Merchandise Inventory
SHORT COMPANY
Comparative Balance Sheet
December 31, 2013 and 2012
Assets
10,000$
9,000$
20,000$
20,000$
Depreciation expense for 2013
Depreciation taken on equipment sold
e. Dividends paid on Common Stock
d. Bond investments sold at no gain or loss
c. Issued bonds payable at par value for cash.
Additional equipment was purchased for cash
