Problem 14(13)-2A
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
Changes in current operating assets and liabilities:
Net cash flow from operating activities
Net cash flow used for investing activities
Net cash flow used for 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 269,700 219,900
Accounts receivable (net) 363,000 336,900
Merchandise inventory 448,800 482,400
Prepaid expenses 14,400 20,100
Equipment 805,500 982,500
Accum. depr. – equipment (198,300) (256,200)
Accounts payable (356,400) (375,300)
Mortgage note payable (504,000) –
Common stock, $25 par (36,000) (411,000)
Paid-in capital in excess of par (480,000) (705,000)
Retained earnings (326,700) (294,300)
Totals – –
Operating activities:
Net income
Depreciation
Decrease in accounts receivable
Increase in merchandise inventory
Increase in prepaid expenses
Increase in accounts payable
Investing activities:
Purchase of equipment
Financing activities:
Payment of cash dividends
Sale of common stock
Payment of mortgage note payable
Net decrease in cash
Totals
Transactions
Cash flows from investing activities:
Cash flows from financing activities:
LANKAU ENTERPRISES INC.
Spreadsheet (Work Sheet) for Statement of Cash Flows
For the Year Ended December 31, 2014
Increase (decrease) in cash
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LANKAU ENTERPRISES INC.
Statement of Cash Flows
Name:
Section:
Score:
Key Code:
0%
For the Year Ended December 31, 2014
Cash flows from operating activities:
Problem 14(13)-2A
Instructions
Answers are entered in the cells with gray backgrounds.
but is provided as an aid in determining amounts for the statement.
Net income 198,000$
Optional:
Balance, Balance,
Dec. 31, 2013 Debit Credit Dec. 31, 2014
Cash 269,700 (l) 49,800 219,900
Accounts receivable (net) 363,000 (k) 26,100 336,900
Totals 1,017,900 1,017,900
For the Year Ended December 31, 2014
ON
An asterisk (*) will appear to the right of an incorrect entry. The optional work sheet will not be graded,
Score:
Spreadsheet (Work Sheet) for Statement of Cash Flows
LANKAU ENTERPRISES INC.
Name:
Section:
Solution
LANKAU ENTERPRISES INC.
Cells with non-gray backgrounds are protected and cannot be edited.
Transactions
Statement of Cash Flows
For the Year Ended December 31, 2014
Cash flows from operating activities:
Cash received from sale of common stock
Less cash paid for dividends
Increase (decrease) in cash
Cash flows from investing activities: