Problem 14(13)-3A
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.
Net income (loss)
Adjustments to reconcile net income 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 at the beginning of the year
Cash at the end of the year
Optional:
Balance, Balance,
Dec. 31, 2013 Debit Credit Dec. 31, 2014
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, $25 par (117,000) (317,000)
Paid-in capital in excess of par (558,000) (758,000)
Retained earnings (2,585,700) (2,517,980)
Totals – –
Operating activities:
Net loss
Depreciation – equipment
Depreciation – buildings
Loss on sale of land
Increase in accounts receivable
Increase in inventories
Decrease in prepaid expenses
Decrease in accounts payable
Investing activities:
Purchase of equipment
Acquisition of building
Sale of land
Financing activiities:
Payment of cash dividends
Issuance of bonds payable
Issuance of common stock
Net decrease in cash
Totals
For the Year Ended December 31, 2014
Transactions
Increase (decrease) in cash
Spreadsheet (Work Sheet) for Statement of Cash Flows
Cash flows from investing activities:
WHITMAN CO.
Cash flows from financing activities:
Statement of Cash Flows
Score:
Key Code:
Name:
Section:
Cash flows from operating activities:
0%
[Key code here]
For the Year Ended December 31, 2014
WHITMAN CO.
Problem 14(13)-3A
Instructions
Answers are entered in the cells with gray backgrounds.
but is provided as an aid in determining amounts for the statement.
Net income (loss) (35,320)$
Adjustments to reconcile net income to net cash
flow from operating activities:
Optional:
Balance, Balance,
Dec. 31, 2013 Debit Credit Dec. 31, 2014
Cash 964,800 (o) 46,800 918,000
Accounts receivable (net) 761,940 (g) 66,960 828,900
Inventories 1,162,980 (j) 105,480 1,268,460
Totals 941,980 941,980
Spreadsheet (Work Sheet) for Statement of Cash Flows
For the Year Ended December 31, 2014
Name:
Section:
Solution
ON
An asterisk (*) will appear to the right of an incorrect entry. The optional work sheet will not be graded,
Score:
Transactions
Statement of Cash Flows
For the Year Ended December 31, 2014
Cash flows from operating activities:
WHITMAN CO.
WHITMAN CO.
Cells with non-gray backgrounds are protected and cannot be edited.
Increase (decrease) in cash
Cash received from issuance of bonds payable
Cash received from issuance of common stock
Cash flows from investing activities:
Less cash paid for dividends