Problem 14(13)-2B
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
Adjustments to reconcile net income to net cash
flow from operating activities:
Depreciation
Depreciation
Patent amortization
Changes in current operating assets and liabilities:
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 at the beginning of the year
Cash at the end of the year
Schedule of Noncash Financing and Investing Activities:
Issuance of common stock to retire bonds
Optional:
Balance, Balance,
Dec. 31, 2013 Debit Credit Dec. 31, 2014
Cash 360,920 443,240
Transactions
Increase (decrease) in cash
Spreadsheet (Work Sheet) for Statement of Cash Flows
For the Year Ended December 31, 2014
Cash flows from investing activities:
Cash flows from financing activities:
HARRIS INDUSTRIES, INC.
0%
[Key code here]
Cash flows from operating activities:
Cells with non-gray backgrounds are protected and cannot be edited.
Name:
Section:
Score:
Key Code:
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, $5 par (50,400) (200,400)
Paid-in capital in excess of par (126,000) (366,000)
Retained earnings (2,118,660) (2,512,200)
Totals – –
Operating activities:
Net income
Depreciation – buildings
Depreciation – machinery and equipment
Amortization of patents
Increase in accounts receivable
Decrease in inventories
Increase in prepaid expenses
Decrease in accounts payable
Decrease in salaries payable
Investing activities:
Construction of building
Financing activities:
Declaration of cash dividends
Issuance of mortgage note payable
Increase in dividends payable
Schedule of noncash investing and financing activities:
Issuance of common stock to retire bonds
Net increase in cash
Totals
Problem 14(13)-2B
Instructions
Answers are entered in the cells with gray backgrounds.
but is provided as an aid in determining amounts for the statement.
Net income 524,580$
Adjustments to reconcile net income to net cash
Optional:
Balance, Balance,
Dec. 31, 2013 Debit Credit Dec. 31, 2014
Cash 360,920 (p) 82,320 443,240
HARRIS INDUSTRIES, INC.
HARRIS INDUSTRIES INC.
Cells with non-gray backgrounds are protected and cannot be edited.
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:
Spreadsheet (Work Sheet) for Statement of Cash Flows
For the Year Ended December 31, 2014
Name:
Section:
Solution
Cash paid for construction of building
Increase (decrease) in cash
Cash received from issuance of mortgage note
Less cash paid for dividends