Student Name:
Class:
136,000$
(12,000)
(75,000)
16,000
3,000
54,000
122,000$ «- Correct!
(36,000) «- Correct!
60,000
(89,000)
(29,000) «- Correct!
57,000$ «- Correct!
107,000 «- Correct!
164,000$ «- Correct!
Problem 12-04A
McGraw-Hill/Irwin
Instructor
For Year Ended December 31, 2013
Statement of Cash Flows
GOLDEN CORPORATION
Cash flows from operating activities:
Net income
Adjustments to reconcile net income to net
cash provided by operating activities
Increase in accounts receivable
Increase in inventory
Increase in accounts payable
Increase in taxes payable
Depreciation expense
Net cash provided by operating activities
Cash flows from investing activities:
Cash paid for equipment
Cash balance at December 31, 2013
Cash flows from financing activities:
Cash received from issuing stock
Cash paid for cash dividends
Net cash used in financing activities
Net increase in cash
Cash balance at December 31, 2012
December 31
2013 2012
164,000$ 107,000$
83,000 71,000
601,000 526,000
335,000 299,000
(158,000) (104,000)
1,025,000$ 899,000$
87,000$ 71,000$
28,000 25,000
592,000 568,000
1,025,000$ 899,000$
36,000$
122,000$
par value, common stock
Retained earnings
Total liabilities and equity
Sales
Cost of goods sold
Gross profit
Operating expenses:
GOLDEN CORPORATION
Depreciation expense
Other expenses
Income before taxes
Income taxes
Net income
(1) Cash from operating activities
Additional information:
Check figure:
Equipment purchased for cash
Number of stock shares issued
Price per share of stock issued
Cash dividends declared and paid
Given Data P12-04A:
December 13, 2013 and 2012
Comparative Balance Sheet
GOLDEN CORPORATION
Assets
Liabilities and Equity
Cash
Accounts receivable
Merchandise inventory
Equipment
Accumulated depreciation, Equipment
Total assets
Accounts payable
Income taxes payable
Common stock, $2 par value
Paid-in capital in excess of
Student Name:
Class:
December Analysis of Changes December
31, 2012 Debit Credit 31, 2013
107,000 164,000
71,000 (b) 12,000 83,000
526,000 (c) 75,000 601,000
299,000 (g) 36,000 335,000
1,003,000 1,183,000
104,000 (f) 54,000 158,000
71,000 (d) 16,000 87,000
25,000 (e) 3,000 28,000
568,000 (h) 24,000 592,000
160,000 (h) 36,000 196,000
75,000 (i) 89,000 (a) 136,000 122,000
1,003,000 1,183,000
(a) 136,000
(b) 12,000
(c) 75,000
(d) 16,000
(e) 3,000
(f) 54,000
(g) 36,000
(h) 60,000
(i) 89,000
481,000 481,000
Correct! Correct!
136,000$
(12,000)
(75,000)
16,000
3,000
54,000
122,000$ «- Correct!
(36,000) «- Correct!
60,000
(89,000)
(29,000) «- Correct!
57,000$ «- Correct!
107,000 «- Correct!
164,000$ «- Correct!
Problem 12-05A
McGraw-Hill/Irwin
Instructor
Net cash used in financing activities
Net increase in cash
Cash balance at beginning of 2013
cash provided by operating activities
Increase in accounts receivable
Increase in inventory
Increase in accounts payable
Cash balance at end of 2013
Net cash provided by operating activities
Cash flows from investing activities:
Cash paid for equipment
Cash flows from financing activities:
Cash received from issuing stock
Cash paid for cash dividends
Increase in taxes payable
Depreciation expense
GOLDEN CORPORATION
Statement of Cash Flows
For Year Ended December 31, 2013
Cash flows from operating activities:
Net income
Adjustments to reconcile net income to net
For Year Ended December 31, 2013
Spreadsheet for Statement of Cash Flows
GOLDEN CORPORATION
Balance sheet-debits
Accumulated depreciation, equip.
Accounts payable
Cash
Accounts receivable
Depreciation expense
Financing activities:
Investing activities:
Operating activities:
Statement of cash flows:
Balance sheet-credits
Paid cash dividends
Issued common stock for cash
Payment for equipment
Net income
Increase in accounts receivable
Paid-in capital in excess of
Increase in merchandise inventory
Increase in accounts payable
Increase in income tax payable
par value, common stock
Retained earnings
Merchandise inventory
Equipment
Income taxes payable
Common stock, $2 par value
December 31
2013 2012
164,000$ 107,000$
83,000 71,000
601,000 526,000
335,000 299,000
(158,000) (104,000)
1,025,000$ 899,000$
87,000$ 71,000$
28,000 25,000
592,000 568,000
196,000 160,000
122,000 75,000
1,025,000$ 899,000$
1,792,000$
1,086,000
706,000
54,000$
494,000 548,000
158,000
22,000
136,000$
36,000$
481,000$
Equipment purchased for cash
Price per share of stock issued
Number of stock shares issued
Cash dividends declared and paid
Analysis of changes column totals
Check figure:
Given Data P12-05A:
GOLDEN CORPORATION
Comparative Balance Sheet
December 13, 2013 and 2012
Liabilities and Equity
Assets
Cash
Accounts receivable
Merchandise inventory
Equipment
Accumulated depreciation, Equipment
Total assets
Accounts payable
Income taxes payable
Common stock, $2 par value
Income before taxes
Contributed capital in excess of
par value, common stock
Retained earnings
Total liabilities and equity
Sales
Cost of goods sold
GOLDEN CORPORATION
Income Statement
For Year Ended December 31, 2013
Gross profit
Operating expenses:
Depreciation expense
Other expenses
Income taxes
Additional information:
Net income
Student Name:
Class:
1,780,000$
(1,145,000)
(494,000)
(19,000)
122,000$ «- Correct!
(36,000) «- Correct!
60,000
(89,000)
(29,000) «- Correct!
57,000$ «- Correct!
107,000 «- Correct!
164,000$ «- Correct!
1,792,000
12,000
1,780,000
Correct!
1,086,000
75,000
16,000
1,145,000
Income taxes expense
Note 3:
Increase in income taxes payable
For Year Ended December 31, 2013
Statement of Cash Flows
GOLDEN CORPORATION
Problem 12-06A
McGraw-Hill/Irwin
Instructor
Cash flows from operating activities:
Cash received from customers (Note 1)
Cash paid for merchandise (Note 2)
Cash paid for other operating expenses
Cash paid for income taxes (Note 3)
Net cash provided by operating activities
Cost of goods sold
Net increase in cash
Cash balance at December 31, 2012
Cash balance at December 31, 2013
Cash flows from investing activities:
Cash paid for equipment
Cash flows from financing activities:
Cash from issuing stock
Cash paid for cash dividends
Net cash used in financing activities
Supporting Calculations:
Note 1:
Sales
Increase in receivables
Note 2:
Cash received from customers
Increase in inventory
Increase in accounts payable
December 31
2013 2012
164,000$ 107,000$
83,000 71,000
601,000 526,000
335,000 299,000
(158,000) (104,000)
1,025,000$ 899,000$
87,000$ 71,000$
28,000 25,000
592,000 568,000
196,000 160,000
122,000 75,000
1,025,000$ 899,000$
Sales
Cost of goods sold
Gross profit
Operating expenses:
Depreciation expense
Other expenses
Income before taxes
Income taxes
Net income
Given Data P12-06A:
GOLDEN CORPORATION
Comparative Balance Sheet
December 13, 2013 and 2012
Liabilities and Equity
Assets
Cash
Accounts receivable
Merchandise inventory
Equipment
Accumulated depreciation, Equipment
Total assets
Accounts payable
Income taxes payable
Common stock, $2 par value
Contributed capital in excess of
par value, common stock
Retained earnings
Total liabilities and equity
GOLDEN CORPORATION
Income Statement
For Year Ended December 31, 2013
Given Data P12-06A:
36,000$
12,000
5$
89,000$
(29,000)$
Cash used in financing activities
Additional information:
Check figure:
Equipment purchased for cash
Number of stock shares issued
Price per share of stock issued
Cash dividends declared and paid