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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 13-2B
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
Patent amortization
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, 20Y4
Cash balance, December 31, 20Y4
Schedule of Noncash Financing and Investing Activities:
Issuance of common stock to retire bonds
Optional:
Harris Industries Inc.
Statement of Cash Flows
For the Year Ended December 31, 20Y4
Cash flows from (used for) operating activities:
Cash flows from (used for) investing activities:
Cash flows from (used for) financing activities:
Net increase (decrease) in cash
Harris Industries Inc.
Spreadsheet (Work Sheet) for Statement of Cash Flows
For the Year Ended December 31, 20Y4
Balance, Balance,
Dec. 31, 20Y3 Debit Credit Dec. 31, 20Y4
Cash 360,920 443,240
Accounts receivable (net) 592,200 665,280
Inventories 1,022,560 887,880
Prepaid expenses 25,200 31,640
Land 302,400 302,400
Buildings 1,134,000 1,713,600
Accum. depr. - buildings (414,540) (466,200)
Machinery and equipment 781,200 781,200
Accum. depr. - machinery and equipment (191,520) (214,200)
Patents 112,000 106,960
Accounts payable (927,080) (837,480)
Dividends payable (25,200) (32,760)
Salaries payable (87,080) (78,960)
Mortgage note payable - (224,000)
Bonds payable (390,000) -
Common stock, $5 par (50,400) (200,400)
Paid-in capital in excess of par (126,000) (366,000)
Retained earnings (2,118,660) (2,512,200)
Totals - -
Operating activities:
Net income
Depreciation - buildings
Depreciation - machinery and equipment
Amortization of patents
Increase in accounts receivable
Decrease in inventories
Increase in prepaid expenses
Decrease in accounts payable
Decrease in salaries payable
Investing activities:
Construction of building
Financing activities:
Declaration of cash dividends
Issuance of mortgage note payable
Increase in dividends payable
Schedule of noncash investing and financing activities:
Issuance of common stock to retire bonds
Net change in cash
Transactions
Totals
Instructions
Answers are entered in the cells with gray backgrounds.
but is provided as an aid in determining amounts for the statement.
Net income 524,580$
Adjustments to reconcile net income to net cash
flow from operating activities:
Depreciation 74,340
Patent amortization 5,040
Changes in current operating assets and liabilities:
(73,080)
134,680
(6,440)
(89,600)
(8,120)
Net cash flow from operating activities 561,400$
(579,600)$
Net cash flow used for investing activities (579,600)
Inventories 1,022,560 (n) 134,680 887,880
Prepaid expenses 25,200 (m) 6,440 31,640
Land 302,400 302,400
Buildings 1,134,000 (l) 579,600 1,713,600
Accum. depr. - buildings (414,540) (k) 51,660 (466,200)
Machinery and equipment 781,200 781,200
Accum. depr. - machinery and equipment (191,520) (j) 22,680 (214,200)
Patents 112,000 (i) 5,040 106,960
Accounts payable (927,080) (h) 89,600 (837,480)
Dividends payable (25,200) (g) 7,560 (32,760)
Salaries payable (87,080) (f) 8,120 (78,960)
Statement of Cash Flows
Problem 13-2B
Name:
Solution
Section:
Score:
ON
Cells with non-gray backgrounds are protected and cannot be edited.
An asterisk (*) will appear to the right of an incorrect entry. The optional work sheet will not be graded,
Harris Industries Inc.
For the Year Ended December 31, 20Y4
Cash flows from (used for) operating activities:
Increase in accounts receivable
Decrease in inventories
Increase in prepaid expenses
Decrease in accounts payable
Decrease in salaries payable
Cash flows from (used for) investing activities:
Cash paid for construction of building
Cash flows from (used for) financing activities:
Net income (a) 524,580
Depreciation - buildings (k) 51,660
Depreciation - machinery and equipment (j) 22,680
Amortization of patents (i) 5,040
Increase in accounts receivable (o) 73,080
Decrease in inventories (n) 134,680
Increase in prepaid expenses (m) 6,440
Decrease in accounts payable (h) 89,600
Decrease in salaries payable (f) 8,120
Investing activities:
Construction of building (l) 579,600
Financing activities:
Declaration of cash dividends (b) 131,040
Issuance of mortgage note payable (e) 224,000
Increase in dividends payable (g) 7,560
Schedule of noncash investing and financing activities:
Issuance of common stock to retire bonds (c) 390,000 (d) 390,000
Net change in cash (p) 82,320
Totals 1,360,200 1,360,200
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 13-3A
Name:
Section:
Score:
0%
Key Code:
[Key code here]
Cells with non-gray backgrounds are protected and cannot be edited.
Net income (loss)
Adjustments to reconcile net income (loss) to net cash
flow from operating activities:
Depreciation
Loss on sale of land
Changes in current operating assets and liabilities:
Net cash flow used for operating activities
Net cash flow used for investing activities
Net cash flow from financing activities
Cash balance, January 1, 20Y2
Cash balance, December 31, 20Y2
Optional:
Balance, Balance,
Whitman Co.
Cash flows from (used for) financing activities:
Statement of Cash Flows
For the Year Ended December 31, 20Y2
Cash flows from (used for) operating activities:
Cash flows from (used for) investing activities:
For the Year Ended December 31, 20Y2
Transactions
Net increase (decrease) in cash
Whitman Co.
Spreadsheet (Work Sheet) for Statement of Cash Flows
Dec. 31, 20Y1 Debit Credit Dec. 31, 20Y2
Cash 964,800 918,000
Accounts receivable (net) 761,940 828,900
Inventories 1,162,980 1,268,460
Prepaid expenses 35,100 29,340
Land 479,700 315,900
Buildings 900,900 1,462,500
Accum. depr. - buildings (382,320) (408,600)
Equipment 454,680 512,280
Accum. depr. - equipment (158,760) (141,300)
Accounts payable (958,320) (922,500)
Bonds payable - (270,000)
Common stock, $25 par (117,000) (317,000)
Paid-in capital in excess of par (558,000) (758,000)
Retained earnings (2,585,700) (2,517,980)
Totals - -
Operating activities:
Net loss
Depreciation - equipment
Depreciation - buildings
Loss on sale of land
Increase in accounts receivable
Increase in inventories
Decrease in prepaid expenses
Decrease in accounts payable
Investing activities:
Purchase of equipment
Acquisition of building
Sale of land
Financing activities:
Payment of cash dividends
Issuance of bonds payable
Issuance of common stock
Net change in cash
Totals
Instructions
Answers are entered in the cells with gray backgrounds.
but is provided as an aid in determining amounts for the statement.
Net income (loss) (35,320)$
Adjustments to reconcile net income (loss) to net cash
flow from operating activities:
Depreciation 55,620
Loss on sale of land 12,600
Changes in current operating assets and liabilities:
(66,960)
(105,480)
5,760
(35,820)
Net cash flow used for operating activities (169,600)$
151,200$
(561,600)
Accounts receivable (net) 761,940 (g) 66,960 828,900
Inventories 1,162,980 (h) 105,480 1,268,460
Prepaid expenses 35,100 (f) 5,760 29,340
Land 479,700 (l) 163,800 315,900
Buildings 900,900 (k) 561,600 1,462,500
Accum. depr. - buildings (382,320) (e) 26,280 (408,600)
Equipment 454,680 (i) 104,400 (j) 46,800 512,280
Accum. depr. - equipment (158,760) (j) 46,800 (d) 29,340 (141,300)
Accounts payable (958,320) (c) 35,820 (922,500)
Bonds payable - (m) 270,000 (270,000)
Common stock, $25 par (117,000) (n) 200,000 (317,000)
Paid-in capital in excess of par (558,000) (n) 200,000 (758,000)
Statement of Cash Flows
Problem 13-3A
Name:
Solution
Section:
Score:
ON
Cells with non-gray backgrounds are protected and cannot be edited.
An asterisk (*) will appear to the right of an incorrect entry. The optional work sheet will not be graded,
Whitman Co.
For the Year Ended December 31, 20Y2
Cash flows from (used for) operating activities:
Increase in accounts receivable
Increase in inventories
Decrease in prepaid expenses
Decrease in accounts payable
Cash flows from (used for) investing activities:
Cash received from land sold
Cash paid for acquisition of building
Increase in accounts receivable (g) 66,960
Increase in inventories (h) 105,480
Decrease in prepaid expenses (f) 5,760
Decrease in accounts payable (c) 35,820
Investing activities:
Purchase of equipment (i) 104,400
Acquisition of building (k) 561,600
Sale of land (l) 151,200
Financing activities:
Payment of cash dividends (b) 32,400
Issuance of bonds payable (m) 270,000
Issuance of common stock (n) 400,000
Net change in cash (o) 46,800
Totals 941,980 941,980
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 13-3B
Name:
Section:
Score:
0%
Key Code:
[Key code here]
Cells with non-gray backgrounds are protected and cannot be edited.
Net income (loss)
Adjustments to reconcile net income to net cash
flow from operating activities:
Depreciation
Gain on sale of land
Changes in current operating assets and liabilities:
Net cash flow from operating activities
Net cash flow used for investing activities
Net cash flow provided by financing activities
Cash balance, January 1, 20Y2
Cash balance, December 31, 20Y2
Optional:
Coulson, Inc.
Statement of Cash Flows
For the Year Ended December 31, 20Y2
Cash flows from (used for) operating activities:
Cash flows from (used for) investing activities:
Spreadsheet (Work Sheet) for Statement of Cash Flows
For the Year Ended December 31, 20Y2
Cash flows from (used for) financing activities:
Net increase (decrease) in cash
Coulson, Inc.
Balance, Balance,
Dec. 31, 20Y1 Debit Credit Dec. 31, 20Y2
Cash 337,800 300,600
Accounts receivable (net) 609,600 704,400
Inventories 865,800 918,600
Prepaid expenses 26,400 18,600
Land 1,386,000 990,000
Buildings 990,000 1,980,000
Accum. depr. - buildings (366,000) (397,200)
Equipment 529,800 660,600
Accum. depr. - equipment (162,000) (133,200)
Accounts payable (631,200) (594,000)
Income tax payable (21,600) (26,400)
Bonds payable - (330,000)
Common stock, $20 par (180,000) (320,000)
Paid-in capital in excess of par (810,000) (950,000)
Retained earnings (2,574,600) (2,822,000)
Totals - -
Operating activities:
Net income
Depreciation - equipment
Depreciation - buildings
Gain on sale of land
Increase in accounts receivable
Increase in inventories
Decrease in prepaid expenses
Decrease in accounts payable
Increase in income taxes payable
Investing activities:
Purchase of equipment
Acquisition of building
Sale of land
Financing activities:
Payment of cash dividends
Issuance of bonds payable
Issuance of common stock
Net decrease in cash
Totals
Transactions
Instructions
Answers are entered in the cells with gray backgrounds.
but is provided as an aid in determining amounts for the statement.
Net income (loss) 326,600$
Adjustments to reconcile net income (loss) to net cash
flow from operating activities:
Depreciation 68,400
Gain on sale of land (60,000)
Changes in current operating assets and liabilities:
(94,800)
(52,800)
7,800
(37,200)
4,800
Net cash flow from operating activities 162,800$
456,000$
(990,000)
(196,800)
Net cash flow used for investing activities (730,800)
Accounts receivable (net) 609,600 (i) 94,800 704,400
Inventories 865,800 (h) 52,800 918,600
Prepaid expenses 26,400 (g) 7,800 18,600
Land 1,386,000 (m) 396,000 990,000
Buildings 990,000 (l) 990,000 1,980,000
Accum. depr. - buildings (366,000) (f) 31,200 (397,200)
Equipment 529,800 (j) 196,800 (k) 66,000 660,600
Accum. depr. - equipment (162,000) (k) 66,000 (e) 37,200 (133,200)
Accounts payable (631,200) (d) 37,200 (594,000)
Income tax payable (21,600) (c) 4,800 (26,400)
Bonds payable - (n) 330,000 (330,000)
Common stock, $20 par (180,000) (o) 140,000 (320,000)
Paid-in capital in excess of par (810,000) (o) 140,000 (950,000)
Statement of Cash Flows
Problem 13-3B
Name:
Solution
Section:
Score:
ON
Cells with non-gray backgrounds are protected and cannot be edited.
An asterisk (*) will appear to the right of an incorrect entry. The optional work sheet will not be graded,
Coulson, Inc.
For the Year Ended December 31, 20Y2
Cash flows from (used for) operating activities:
Increase in accounts receivable
Increase in inventories
Decrease in prepaid expenses
Decrease in accounts payable
Increase in income taxes payable
Cash flows from (used for) investing activities:
Cash received from land sold
Cash paid for acquisition of building
Cash paid for purchase of equipment
Gain on sale of land (m) 60,000
Increase in accounts receivable (i) 94,800
Increase in inventories (h) 52,800
Decrease in prepaid expenses (g) 7,800
Decrease in accounts payable (d) 37,200
Increase in income taxes payable (c) 4,800
Investing activities:
Purchase of equipment (j) 196,800
Acquisition of building (l) 990,000
Sale of land (m) 456,000
Financing activities:
Payment of cash dividends (b) 79,200
Issuance of bonds payable (n) 330,000
Issuance of common stock (o) 280,000
Net change in cash (p) 37,200
Totals 1,510,800 1,510,800
An asterisk (*) will appear to the right of an incorrect entry.
Cash flows from (used for) operating activities:
Cash received from customers
Net cash flow from operating activities
Cash flows from (used for) investing activities:
Cash received from sale of investments
Net cash flow used for investing activities
Cash flows from (used for) financing activities:
Cash received from sale of common stock
Net cash flow from financing activities
Problem 13-4A
Name:
Section:
Score:
0%
Key Code:
[Key code here]
Instructions
Answers are entered in the cells with gray backgrounds.
Cells with non-gray backgrounds are protected and cannot be edited.
Canace Products Inc.
Statement of Cash Flows
For the Year Ended December 31, 20Y6
