Instructions
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Exercise 13-16
Name:
Section:
Score:
0%
Key Code:
[Key code here]
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a.
Net income
Adjustments to reconcile net income to net cash
flow from operating activities:
Depreciation
Gain on disposal of property
Other items involving noncash expenses
Changes in current operating assets and liabilities:
Increase in accounts receivable
Decrease in inventory
Increase in prepaid expenses
Decrease in accounts payable
Decrease in accrued and other current liabilities
Net cash flow from operating activities
b.
Cash flows from (used for) operating activities:
[Key essay answer here]
Instructions
Answers are entered in the cells with gray backgrounds.
a.
Net income 49,311$
Adjustments to reconcile net income to net cash
flow from operating activities:
Depreciation 11,580
Gain on disposal of property (1,188)
Other items involving noncash expenses
1,383
Changes in current operating assets and liabilities:
Increase in accounts receivable
(1,746)
Decrease in inventory
990
Increase in prepaid expenses (605)
Decrease in accounts payable
(710)
Decrease in accrued and other current liabilities
(995)
Net cash flow from operating activities 58,020$
b.
Score:
ON
Exercise 13-16
Name:
Solution
Section:
(in thousands)
Cash flows from (used for) operating activities:
National Beverage is doing well financially. The company has positive earnings and positive net cash flow
from operating activities. The company continues to grow, and the trend in recent years has been positive.
The increase in accounts receivable is a positive sign, indicating an increase in sales.
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National Beverage Co.
Cash Flows from Operating Activities
Instructions
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An asterisk (*) will appear to the right of an incorrect entry. The essay answer will not be graded.
Exercise 13-17
Name:
Section:
Score:
0%
Key Code:
[Key code here]
Cells with non-gray backgrounds are protected and cannot be edited.
a.
Net income
Adjustments to reconcile net income to net cash
flow from operating activities:
Depreciation
Changes in current operating assets and liabilities:
Net cash flow from operating activities
Net cash flow from investing activities
Net cash flow from financing activities
Cash balance, January 1, 20Y2
Cash balance, December 31, 20Y2
b.
Olson-Jones Industries Inc.
Statement of Cash Flows
For the Year Ended December 31, 20Y2
Cash flows from (used for) operating activities:
Net increase (decrease) in cash
[Key essay answer here]
Cash flows from (used for) investing activities:
Cash flows from (used for) financing activities:
Instructions
Answers are entered in the cells with gray backgrounds.
a.
Net income 62$
Adjustments to reconcile net income to net cash
flow from operating activities:
Depreciation 26
(40)
Changes in current operating assets and liabilities:
(6)
(18)
14
Net cash flow from operating activities 38$
120$
(30)
Net cash flow from investing activities 90
60$
(19)
Net cash flow from financing activities 41
169$
Cash balance, January 1, 20Y2 14
Cash balance, December 31, 20Y2 183$
b.
Score:
ON
Exercise 13-17
Name:
Solution
Section:
Increase in accounts payable
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Olson-Jones Industries Inc.
Statement of Cash Flows
For the Year Ended December 31, 20Y2
Cash flows from (used for) operating activities:
Gain on sale of land
Increase in accounts receivable
Increase in inventories
Net increase (decrease) in cash
Olson-Jones Industries Inc.’s net income was more than the cash flows from
operations because of:
Cash flows from (used for) investing activities:
Cash received from sale of land
Cash paid for purchase of equipment
Cash flows from (used for) financing activities:
Cash received from sale of common stock
Cash paid for dividends
Instructions
Answers are entered in the cells with gray backgrounds.
An asterisk (*) will appear to the right of an incorrect entry. The optional work sheet will not be graded,
but is provided as an aid in determining amounts for the statement.
Problem 13-1A
Name:
Section:
Score:
0%
Key Code:
[Key code here]
Cells with non-gray backgrounds are protected and cannot be edited.
Net income
Adjustments to reconcile net income to net cash
flow from operating activities:
Depreciation
Changes in current operating assets and liabilities:
Net cash flow from operating activities
Net cash flow used for investing activities
Net cash flow from financing activities
Cash balance, January 1, 20Y3
Cash balance, December 31, 20Y3
Optional:
Balance, Balance,
Dec. 31, 20Y2 Debit Credit Dec. 31, 20Y3
Cash 150,000 155,000
Accounts receivable (net) 400,000 450,000
Inventories 750,000 770,000
Livers Inc.
Statement of Cash Flows
For the Year Ended December 31, 20Y3
Cash flows from (used for) operating activities:
Cash flows from (used for) investing activities:
For the Year Ended December 31, 20Y3
Transactions
Cash flows from (used for) financing activities:
Net increase (decrease) in cash
Livers Inc.
Spreadsheet (Work Sheet) for Statement of Cash Flows
Investments 100,000 –
Land – 500,000
Equipment 1,200,000 1,400,000
Accum. depr. – equipment (500,000) (600,000)
Accounts payable (300,000) (340,000)
Accrued expenses payable (50,000) (45,000)
Dividends payable (25,000) (30,000)
Common stock, $4 par (600,000) (700,000)
Paid-in capital in excess of par (175,000) (200,000)
Retained earnings (950,000) (1,360,000)
Totals – –
Operating activities:
Net income
Depreciation
Gain on sale of investments
Increase in accounts receivable
Increase in inventories
Increase in accounts payable
Decrease in accrued expenses payable
Investing activities:
Purchase of equipment
Purchase of land
Sale of investments
Financing activities:
Declaration of cash dividends
Sale of common stock
Increase in dividends payable
Net change in cash
Totals
Instructions
Answers are entered in the cells with gray backgrounds.
but is provided as an aid in determining amounts for the statement.
Net income 500,000$
Adjustments to reconcile net income to net cash
flow from operating activities:
Depreciation 100,000
(75,000)
Cash balance, December 31, 20Y3
Cash flows from (used for) financing activities:
Cash flows from (used for) investing activities:
Cash received from sale of investments
Cash paid for purchase of land
Cash paid for purchase of equipment
Cash received from sale of common stock
Cash paid for dividends
Net increase (decrease) in cash
Optional:
Balance, Balance,
Dec. 31, 20Y2 Debit Credit Dec. 31, 20Y3
Cash 150,000 (m) 5,000 155,000
Accounts receivable (net) 400,000 (l) 50,000 450,000
Inventories 750,000 (k) 20,000 770,000
Investments 100,000 (j) 100,000 –
Land – (i) 500,000 500,000
Equipment 1,200,000 (h) 200,000 1,400,000
Increase in inventories (k) 20,000
Increase in accounts payable (f) 40,000
Decrease in accrued expenses payable (e) 5,000
Investing activities:
Purchase of equipment (h) 200,000
Statement of Cash Flows
Problem 13-1A
Name:
Solution
Section:
Score:
ON
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Livers Inc.
For the Year Ended December 31, 20Y3
Cash flows from (used for) operating activities:
Gain on sale of investments
Transactions
Livers Inc.
Spreadsheet (Work Sheet) for Statement of Cash Flows
For the Year Ended December 31, 20Y3
Instructions
Answers are entered in the cells with gray backgrounds.
An asterisk (*) will appear to the right of an incorrect entry. The optional work sheet will not be graded,
but is provided as an aid in determining amounts for the statement.
Problem 13-1B
Name:
Section:
Score:
0%
Key Code:
[Key code here]
Cells with non-gray backgrounds are protected and cannot be edited.
Net income
Adjustments to reconcile net income to net cash
flow from operating activities:
Depreciation
Changes in current operating assets and liabilities:
Net cash flow from operating activities
Net cash flow used for investing activities
Net cash flow from financing activities
Cash balance, January 1, 20Y9
Cash balance, December 31, 20Y9
Optional:
Balance, Balance,
Dec. 31, 20Y8 Debit Credit Dec. 31, 20Y9
Cash 47,940 70,720
Accounts receivable (net) 188,190 207,230
Merrick Equipment Co.
Statement of Cash Flows
For the Year Ended December 31, 20Y9
Cash flows from (used for) operating activities:
Cash flows from (used for) investing activities:
For the Year Ended December 31, 20Y9
Transactions
Cash flows from (used for) financing activities:
Net increase (decrease) in cash
Merrick Equipment Co.
Spreadsheet (Work Sheet) for Statement of Cash Flows
Inventories 289,850 298,520
Investments 102,000 –
Land – 295,800
Equipment 358,020 438,600
Accum. depr. – equipment (84,320) (99,110)
Accounts payable (194,140) (205,700)
Accrued expenses payable (26,860) (30,600)
Dividends payable (20,400) (25,500)
Common stock, $1 par (102,000) (202,000)
Paid-in capital in excess of par (204,000) (354,000)
Retained earnings (354,280) (393,960)
Totals – –
Operating activities:
Net income
Depreciation
Loss on sale of investments
Increase in accounts receivable
Increase in inventories
Increase in accounts payable
Increase in accrued expenses payable
Investing activities:
Purchase of equipment
Purchase of land
Sale of investments
Financing activities:
Declaration of cash dividends
Sale of common stock
Increase in dividends payable
Net increase in cash
Totals
Instructions
Answers are entered in the cells with gray backgrounds.
but is provided as an aid in determining amounts for the statement.
Net income 141,680$
Adjustments to reconcile net income to net cash
flow from operating activities:
Depreciation 14,790
Cash balance, December 31, 20Y9
Cash flows from (used for) financing activities:
Loss on sale of investments
Cash flows from (used for) investing activities:
Cash received from sale of investments
Cash paid for purchase of land
Cash paid for purchase of equipment
Cash received from sale of common stock
Cash paid for dividends
Net increase (decrease) in cash
Optional:
Balance, Balance,
Dec. 31, 20Y8 Debit Credit Dec. 31, 20Y9
Cash 47,940 (m) 22,780 70,720
Accounts receivable (net) 188,190 (l) 19,040 207,230
Inventories 289,850 (k) 8,670 298,520
Investments 102,000 (j) 102,000 –
Land – (i) 295,800 295,800
Equipment 358,020 (h) 80,580 438,600
Accum. depr. – equipment (84,320) (g) 14,790 (99,110)
Increase in accounts payable (f) 11,560
Increase in accrued expenses payable (e) 3,740
Investing activities:
Purchase of equipment (h) 80,580
Statement of Cash Flows
Problem 13-1B
Name:
Solution
Section:
Score:
ON
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Merrick Equipment Co.
For the Year Ended December 31, 20Y9
Cash flows from (used for) operating activities:
Transactions
Merrick Equipment Co.
Spreadsheet (Work Sheet) for Statement of Cash Flows
For the Year Ended December 31, 20Y9
Instructions
Answers are entered in the cells with gray backgrounds.
An asterisk (*) will appear to the right of an incorrect entry. The optional work sheet will not be graded,
but is provided as an aid in determining amounts for the statement.
Problem 13-2A
Name:
Section:
Score:
0%
Key Code:
[Key code here]
Cells with non-gray backgrounds are protected and cannot be edited.
Net income
Adjustments to reconcile net income to net cash
flow from operating activities:
Depreciation
Changes in current operating assets and liabilities:
Net cash flow from operating activities
Net cash flow used for investing activities
Net cash flow from financing activities
Cash balance, January 1, 20Y8
Cash balance, December 31, 20Y8
Optional:
Balance, Balance,
Dec. 31, 20Y7 Debit Credit Dec. 31, 20Y8
Cash 110,000 95,000
Accounts receivable (net) 280,000 260,000
Yellow Dog Enterprises Inc.
Statement of Cash Flows
For the Year Ended December 31, 20Y8
Cash flows from (used for) operating activities:
Transactions
Cash flows from (used for) investing activities:
Cash flows from (used for) financing activities:
Net increase (decrease) in cash
Yellow Dog Enterprises Inc.
Spreadsheet (Work Sheet) for Statement of Cash Flows
For the Year Ended December 31, 20Y8
Inventory 450,000 520,000
Prepaid expenses 5,000 15,000
Equipment 800,000 1,130,000
Accum. depr. – equipment (190,000) (235,000)
Accounts payable (75,000) (100,000)
Mortgage note payable (500,000) –
Common stock, $10 par (200,000) (500,000)
Paid-in capital in excess of par (100,000) (400,000)
Retained earnings (580,000) (785,000)
Totals – –
Operating activities:
Net income
Depreciation
Decrease in accounts receivable
Increase in inventory
Increase in prepaid expenses
Increase in accounts payable
Investing activities:
Purchase of equipment
Financing activities:
Payment of cash dividends
Sale of common stock
Payment of mortgage note payable
Net change in cash
Totals
Instructions
Answers are entered in the cells with gray backgrounds.
but is provided as an aid in determining amounts for the statement.
Net income 250,000$
Adjustments to reconcile net income to net cash
flow from operating activities:
Depreciation 135,000
Changes in current operating assets and liabilities:
20,000
(70,000)
(10,000)
25,000
Net cash flow from operating activities 350,000$
Cash paid to retire mortgage note payable
Cash paid for purchase of equipment
Cash flows from (used for) financing activities:
Cash received from sale of common stock
Cash paid for dividends
Net increase (decrease) in cash
Spreadsheet (Work Sheet) for Statement of Cash Flows
Cash 110,000 (l) 15,000 95,000
Accounts receivable (net) 280,000 (k) 20,000 260,000
Inventory 450,000 (j) 70,000 520,000
Prepaid expenses 5,000 (i) 10,000 15,000
Equipment 800,000 (h) 420,000 (g) 90,000 1,130,000
Accum. depr. – equipment (190,000) (g) 90,000 (f) 135,000 (235,000)
Accounts payable (75,000) (e) 25,000 (100,000)
Mortgage note payable (500,000) (d) 500,000 –
Common stock, $10 par (200,000) (c) 300,000 (500,000)
Paid-in capital in excess of par (100,000) (c) 300,000 (400,000)
Retained earnings (580,000) (b) 45,000 (a) 250,000 (785,000)
Totals – 1,135,000 1,135,000 –
Operating activities:
Net income (a) 250,000
Depreciation (f) 135,000
Decrease in accounts receivable (k) 20,000
Increase in inventory (j) 70,000
Increase in prepaid expenses (i) 10,000
Statement of Cash Flows
Problem 13-2A
Name:
Solution
Section:
Score:
ON
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An asterisk (*) will appear to the right of an incorrect entry. The optional work sheet will not be graded,
Yellow Dog Enterprises Inc.
For the Year Ended December 31, 20Y8
Cash flows from (used for) operating activities:
Decrease in accounts receivable
Increase in inventory
Increase in prepaid expenses
Increase in accounts payable
Cash flows from (used for) investing activities:
Sale of common stock (c) 600,000
Payment of mortgage note payable (d) 500,000
Net change in cash (l) 15,000
Totals 1,045,000 1,045,000