Problem 16-3B
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 (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 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 337,800 300,600
For the Year Ended December 31, 2014
Transactions
Increase (decrease) in cash
Spreadsheet (Work Sheet) for Statement of Cash Flows
Cash flows from investing activities:
COULSON INC.
Cash flows from financing activities:
COULSON INC.
Statement of Cash Flows
Score:
Key Code:
Name:
Section:
Cash flows from operating activities:
0%
For the Year Ended December 31, 2014
Cells with non-gray backgrounds are protected and cannot be edited.
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)
Income tax payable (21,600) (26,400)
Bonds payable – (330,000)
Common stock, $20 par (180,000) (320,000)
Paid-in capital in excess of par (810,000) (950,000)
Retained earnings (2,574,600) (2,822,000)
Totals – –
Operating activities:
Net income
Depreciation – equipment
Depreciation – buildings
Gain on sale of land
Increase in accounts receivable
Increase in inventories
Decrease in prepaid expenses
Decrease in accounts payable
Increase in income taxes payable
Investing activities:
Purchase of equipment
Acquisition of building
Sale of land
Financing activiities:
Payment of cash dividends
Issuance of bonds payable
Issuance of common stock
Net decrease in cash
Totals
Problem 16-3B
Instructions
Answers are entered in the cells with gray backgrounds.
but is provided as an aid in determining amounts for the statement.
Net income (loss) 326,600$
Adjustments to reconcile net income to net cash
flow from operating activities:
Depreciation 68,400
Optional:
Balance, Balance,
Dec. 31, 2013 Debit Credit Dec. 31, 2014
Cash 337,800 (p) 37,200 300,600
Accounts receivable (net) 609,600 (i) 94,800 704,400
Inventories 865,800 (h) 52,800 918,600
Spreadsheet (Work Sheet) for Statement of Cash Flows
For the Year Ended December 31, 2014
Name:
Section:
Solution
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:
COULSON INC.
COULSON INC.
Cells with non-gray backgrounds are protected and cannot be edited.
Increase (decrease) in cash
Cash flows from financing activities:
Cash flows from investing activities: