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.
Cells with non-gray backgrounds are protected and cannot be edited.
Problem 15-3B
Score:
Key Code:
Name:
Section:
0%
[Key code here]
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:
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)
For the Year Ended December 31, 20Y2
Net increase (decrease) in cash
Spreadsheet (Work Sheet) for Statement of Cash Flows
Cash flows from (used for) investing activities:
Coulson, Inc.
Cash flows from (used for) financing activities:
Cash flows from (used for) operating activities:
Coulson, Inc.
Statement of Cash Flows
For the Year Ended December 31, 20Y2
Income tax payable (21,600) (26,400)
Bonds payable – (330,000)
Common stock, $20 par (180,000) (320,000)
Paid-in capital in excess of par (810,000) (950,000)
Retained earnings (2,574,600) (2,822,000)
Totals – –
Operating activities:
Net income
Depreciation – equipment
Depreciation – buildings
Gain on sale of land
Increase in accounts receivable
Increase in inventories
Decrease in prepaid expenses
Decrease in accounts payable
Increase in income taxes payable
Investing activities:
Purchase of equipment
Acquisition of building
Sale of land
Financing activities:
Instructions
Answers are entered in the cells with gray backgrounds.
but is provided as an aid in determining amounts for the statement.
Net income (loss) 326,600$
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:
Net cash flow from operating activities 162,800$
Cash received from land sold
Cash flows from (used for) investing activities:
Cash paid for acquisition of building
Cash paid for purchase of equipment
Net cash flow used for investing activities (730,800)
Cash received from issuance of bonds payable
Cash received from issuance of common stock
Cash paid for dividends
Net cash flow from financing activities 530,800
(37,200)$
Cash balance, January 1, 20Y2 337,800
Cash balance, December 31, 20Y2 300,600$
Optional:
Net increase (decrease) in cash
Spreadsheet (Work Sheet) for Statement of Cash Flows
For the Year Ended December 31, 20Y2
Name:
Section:
Solution
ON
An asterisk (*) will appear to the right of an incorrect entry. The optional work sheet will not be graded,
Score:
Coulson, Inc.
Cells with non-gray backgrounds are protected and cannot be edited.
Problem 15-3B
Statement of Cash Flows
For the Year Ended December 31, 20Y2
Cash flows from (used for) operating activities:
Coulson, Inc.
Cash flows from (used for) financing activities:
Balance, Balance,
Dec. 31, 20Y1 Debit Credit
Dec. 31, 20Y2
Cash 337,800 (p) 37,200 300,600
Accounts receivable (net) 609,600 (i) 94,800 704,400
Totals – 1,516,800 1,516,800 –
Operating activities:
Net income (a) 326,600
Depreciation – equipment (e) 37,200
Depreciation – buildings (f) 31,200
Gain on sale of land (m) 60,000
Transactions