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$
e. Paid cash for equipment
Number of additional shares issued
Par value of Common Stock issued
d. Cash received from issuance of Common Stock
c. Cash received for Bonds Payable issued at par
b. Depreciation recorded for year
COLE, INC.
Accounts Payable
Total Assets
Less: Accumulated Depreciation
Liabilities
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
Net cash used in investing activities
Purchase of property, plant, and equipment
Cash, January 1, 2013
Net increase in cash
Net cash used in financing activities
Payment of dividend on common stock
Payment of note payable due in 2015
Proceeds from issuance of common stock
Cash Flows from financing Activities
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
d. Issued Common Stock at par value for cash
c. Cash paid for dividends on Common Stock
Cash
Total Liabilities
Note Payable – 2015
Income Taxes Payable
Unearned Revenues
Salaries Payable
a. No Property, Plant, and Equipment disposed of during year
Less: Accumulated Depreciation
Property, Plant, and Equipment
Prepaid Advertising
Merchandise Inventory
Accounts Receivable (Net)
Total Stockholders’ Equity
Retained Earnings
Common Stock ($2 par)
Accounts Payable
JACKSON CORPORATION
Income Taxes Expense
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
Purchase of land
Cash Flows from Financing Activities
Net cash used in investing activities
Purchase of equipment
Proceeds from sale of bond investment
Proceeds from sale of equipment
Cash, January 1, 2013
Net increase in cash
Net cash used in financing activities
Payment of dividend on common stock
Proceeds from issuance of bonds payable
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
Paid half in cash
a. Cost of land acquired
Total Liabilities
Bonds Payable
Original cost of equipment sold
b. Cash received for sale of equipment
Loss on Sale of Equipment
Income Taxes Payable
Accounts Payable
Total Stockholders’ Equity
Retained Earnings
Common Stock
Selling and Administrative Expenses
Income Taxes Expense
Total Costs and Expenses
SHORT COMPANY
Revenues
Costs and Expenses
Cost of Goods Sold
Depreciation Expense
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