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.
[Key code here]
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Key Code:
Name:
Section:
Problem 15-3A
0%
Score:
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,
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)
Cash flows from (used for) operating activities:
Transactions
Net increase (decrease) in cash
Spreadsheet (Work Sheet) for Statement of Cash Flows
Whitman Co.
Cash flows from (used for) financing activities:
For the Year Ended December 31, 20Y2
Cash flows from (used for) investing activities:
Common stock, $25 par (117,000) (317,000)
Paid-in capital in excess of par (558,000) (758,000)
Retained earnings (2,585,700) (2,517,980)
Totals – –
Operating activities:
Net loss
Depreciation – equipment
Depreciation – buildings
Loss on sale of land
Increase in accounts receivable
Increase in inventories
Decrease in prepaid expenses
Decrease in accounts payable
Investing activities:
Purchase of equipment
Acquisition of building
Sale of land
Financing activities:
Payment of cash dividends
Instructions
Answers are entered in the cells with gray backgrounds.
but is provided as an aid in determining amounts for the statement.
Net income (loss) (35,320)$
Adjustments to reconcile net income (loss) to net cash
flow from operating activities:
Depreciation 55,620
Loss on sale of land 12,600
Net cash flow used for operating activities (169,600)$
Cash paid for purchase of equipment
Cash received from land sold
Cash flows from (used for) investing activities:
Cash paid for acquisition of building
Net cash flow used for investing activities (514,800)
Cash received from issuance of bonds payable
Cash received from issuance of common stock
Cash paid for dividends
Net cash flow from financing activities 637,600
Net increase (decrease) in cash
Optional:
Balance, Balance,
Transactions
Statement of Cash Flows
For the Year Ended December 31, 20Y2
Cash flows from (used for) operating activities:
Spreadsheet (Work Sheet) for Statement of Cash Flows
For the Year Ended December 31, 20Y2
Whitman Co.
Cash flows from (used for) financing activities:
Problem 15-3A
Name:
Section:
Solution
ON
An asterisk (*) will appear to the right of an incorrect entry. The optional work sheet will not be graded,
Score:
Whitman Co.
Cells with non-gray backgrounds are protected and cannot be edited.
Dec. 31, 20Y1 Debit Credit
Dec. 31, 20Y2
Cash 964,800 (o) 46,800 918,000
Operating activities:
Net loss (a) 35,320
Depreciation – equipment (d) 29,340
Depreciation – buildings (e) 26,280
Loss on sale of land (l) 12,600
Increase in accounts receivable (g) 66,960