Problem 16-2B
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.
0%
[Key code here]
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Name:
Section:
Score:
Key Code:
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
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.
For the Year Ended December 31, 2014
Cash flows from operating activities:
HARRIS INDUSTRIES INC.
Statement of Cash Flows
Salaries payable (87,080) (78,960)
Mortgage note payable – (224,000)
Problem 16-2B
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
flow from operating activities:
Depreciation 74,340
Optional:
Balance, Balance,
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:
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
Cash flows from financing activities:
Increase (decrease) in cash
Cash received from issuance of mortgage note
Dec. 31, 2013 Debit Credit Dec. 31, 2014
Cash 360,920 (p) 82,320 443,240
Accounts receivable (net) 592,200 (o) 73,080 665,280
Inventories 1,022,560 (n) 134,680 887,880
Prepaid expenses 25,200 (m) 6,440 31,640