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Accounting Chapter 21 Homework Acquired $30,000 of land by issuing a 13%, 7-year note.

Page Count
14 pages
Word Count
1942 words
Book Title
INTERMEDIATE ACCOUNTING WITH AIR FRANCE-KLM 2013 ANNUAL REPORT 8th Edition
Authors
David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
Problem 2116
DUX COMPANY
Spreadsheet for the Statement of Cash Flows
Dec.31 Changes Dec. 31
2015 Debits Credits 2016
Balance Sheet
Assets:
Liabilities:
Accounts payable 20 (8) 7 13
Shareholders' Equity:
X Noncash investing and financing activity.
21102 Intermediate Accounting, 8/e
Problem 2116 (continued)
Spreadsheet for the Statement of Cash Flows
(continued)
Dec.31 Changes Dec. 31
2015 Debits Credits 2016
Statement of Cash Flows
Net income (1) 25
Adjustments for noncash effects:
Investing activities:
Problem 2116 (concluded)
DUX COMPANY
Statement of Cash Flows
For year ended December 31, 2016 ($ in 000s)
Cash flows from operating activities:
Net income $25
Adjustments for noncash effects:
Cash flows from investing activities:
Problem 2117
METAGROBOLIZE INDUSTRIES
Spreadsheet for the Statement of Cash Flows
Dec.31 Changes Dec. 31
2015 Debits Credits 2016
Balance Sheet
Assets:
X Noncash investing and financing activity.
Problem 2117 (continued)
Spreadsheet for the Statement of Cash Flows
(continued)
Dec.31 Changes Dec. 31
2015 Debits Credits 2016
Statement of Cash Flows
Operating activities:
Net income (1) 975
Adjustments for noncash effects:
21106 Intermediate Accounting, 8/e
Problem 2117 (concluded)
METAGROBOLIZE INDUSTRIES
Statement of Cash Flows
For year ended December 31, 2016 ($ in 000s)
Cash flows from operating activities:
Cash flows from investing activities:
Purchase of equipment (900)
Problem 2118
ARDUOUS COMPANY
Spreadsheet for the Statement of Cash Flows
Dec.31 Changes Dec. 31
2015 Debits Credits 2016
Balance Sheet
Assets:
Liabilities:
Accounts payable 65 (10) 15 50
Problem 2118 (continued)
Spreadsheet for the Statement of Cash Flows
(continued)
Dec.31 Changes Dec. 31
2015 Debits Credits 2016
Statement of Cash Flows
Operating activities:
Investing activities:
Problem 2118 (continued)
Arduous Company
Statement of Cash Flows
For year ended December 31, 2016 ($ in millions)
Cash flows from investing activities:
21110 Intermediate Accounting, 8/e
Problem 2118 (concluded)
Noncash investing and financing activities:
The following problems use the technique learned in Appendix 21B.
Problem 2119
BALANCE SHEET ACCOUNTS
Cash (Statement of Cash Flows)
_____________________________________________________________
13
Accounts Receivable
______________________
3
21112 Intermediate Accounting, 8/e
Problem 2119 (continued)
Long-term Investments Land
______________________ ______________________________
5 30
Buildings and Equipment Accumulated Depreciation
Accounts Payable Salaries Payable
Interest Payable Income Tax Payable
Problem 2119 (continued)
Paid-in Capital Retained Earnings
(15) 13
Treasury Stock
21114 Intermediate Accounting, 8/e
Problem 2119 (continued)
INCOME STATEMENT ACCOUNTS
Sales Dividend Revenue
______________________ ______________________________
Problem 2119 (concluded)
DUX COMPANY
Statement of Cash Flows
For year ended December 31, 2016 ($ in 000s)
Cash flows from operating activities:
Problem 2120
BALANCE SHEET ACCOUNTS
Cash (Statement of Cash Flows)
______________________________________________________________
Accounts Receivable Inventory
______________________ ______________________________
Land Accumulated Depr.-Buildings
Equipment Accumulated Depr.-Equipment
______________________ ______________________________
Problem 2120 (continued)
Patent Accounts Payable
______________________ _______________________________
Problem 2120 (continued)
INCOME STATEMENT ACCOUNTS
Sales Gain on Sale of Land
Cost of Goods Sold Depreciation ExpenseBuild.
Depreciation ExpenseEquip. Loss on Sale of Equipment
______________________ ______________________________
Amortization of Patent Operating Expenses
Net Income (Income Summary)
Problem 2120 (concluded)
METAGROBOLIZE INDUSTRIES
Statement of Cash Flows
For year ended December 31, 2016 ($ in 000s)
Cash flows from operating activities:
21120 Intermediate Accounting, 8/e
Problem 2121
BALANCE SHEET ACCOUNTS
Cash (Statement of Cash Flows)
________________________________________________________________
35
Operating Activities:
From customers (1) 414 200 (4) To suppliers of goods
Accounts Receivable
______________________
4

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