Problem 21–2
WRIGHT COMPANY
Spreadsheet for the Statement of Cash Flows
Dec.31 Changes Dec. 31
2015 Debits Credits 2016
Balance Sheet
Assets:
Cash 30 (15) 12 42
Liabilities:
Accounts payable 35 (2) 7 28
Statement of Income
Revenues:
21–62 Intermediate Accounting, 8/e
Problem 21–2 (continued)
Spreadsheet for the Statement of Cash Flows
(continued)
Dec.31 Changes Dec. 31
2015 Debits Credits 2016
Statement of Cash Flows
Operating activities:
Cash inflows:
Investing activities:
Sale of land (6) 7
Problem 21–2 (concluded)
WRIGHT COMPANY
Statement of Cash Flows
For year ended December 31, 2016 (in $000)
Cash flows from operating activities:
Cash inflows:
From customers $382
21–64 Intermediate Accounting, 8/e
Problem 21–3
NATIONAL INTERCABLE COMPANY
Spreadsheet for the Statement of Cash Flows
Dec.31 Changes Dec. 31
2015 Debits Credits 2016
Balance Sheet
Assets:
Cash 55 (18) 14 69
Liabilities:
Accounts payable 45 (4) 15 30
Problem 21–3 (continued)
Spreadsheet for the Statement of Cash Flows
(continued)
Dec.31 Changes Dec. 31
2015 Debits Credits 2016
Statement of Income
Revenues:
Sales revenue (1) 320 320
21–66 Intermediate Accounting, 8/e
Problem 21–3 (continued)
Spreadsheet for the Statement of Cash Flows
(continued)
Dec.31 Changes Dec. 31
2015 Debits Credits 2016
Statement of Cash Flows
Operating activities:
Cash inflows:
From customers (1) 311
Investing activities:
Sale of long-term investment (3) 35
Sale of building parts (11) 3
Problem 21–3 (concluded)
NATIONAL INTERCABLE COMPANY
Statement of Cash Flows
For year ended December 31, 2016 ($ in millions)
Cash flows from operating activities:
Cash inflows:
From customers $311
Cash flows from investing activities:
Sale of building parts 3
Cash flows from financing activities:
Retirement of bonds payable (130)
Net increase in cash 14
Problem 21–4
DUX COMPANY
Spreadsheet for the Statement of Cash Flows
Dec.31 Changes Dec. 31
2015 Debits Credits 2016
Balance Sheet
Assets:
Cash 20 (17) 13 33
Liabilities:
Accounts payable 20 (3) 7 13
Shareholders' Equity:
Common stock 200 (14) 10 210
Problem 21–4 (continued)
Spreadsheet for the Statement of Cash Flows (continued)
Dec.31 Changes Dec. 31
2015 Debits Credits 2016
Statement of Income
Revenues:
Expenses:
Statement of Cash Flows
Operating activities:
Cash inflows:
From customers (1) 203
21–70 Intermediate Accounting, 8/e
Problem 21–4 (concluded)
DUX COMPANY
Statement of Cash Flows
For year ended December 31, 2016 ($ in 000s)
Cash flows from operating activities:
Cash inflows:
Cash flows from investing activities:
Problem 21–5
METAGROBOLIZE INDUSTRIES
Spreadsheet for the Statement of Cash Flows
Dec.31 Changes Dec. 31
2015 Debits Credits 2016
Balance Sheet
Assets:
Cash 375 (14) 225 600
Income Statement
Revenues:
Problem 21–5 (continued)
Spreadsheet for the Statement of Cash Flows
(continued)
Dec.31 Changes Dec. 31
2015 Debits Credits 2016
Statement of Cash Flows
Operating activities:
Cash inflows:
Problem 21–5 (concluded)
METAGROBOLIZE INDUSTRIES
Statement of Cash Flows
For year ended December 31, 2016 ($ in 000)
Cash flows from operating activities:
Cash inflows:
21–74 Intermediate Accounting, 8/e
Problem 21–6
Requirement 1
a. Summary Entry Cash (received from customers) 155
Accounts receivable 5
Sales revenue 150
Problem 21–6 (concluded)
Requirement 2
Cash Flows from Operating Activities:
Problem 21–7
Cash Flows from Operating Activities:
Cash received from customers $316a
a. Summary Entry Cash (received from customers) 316
b.
The gain on sale of cash equivalents indicates that total cash increased as a result of
converting cash in one form (say a $10 million treasury bill) to cash in another form
(checking account)*:
Summary Entry Cash [checking account] 12
Problem 21–7 (concluded)
f. Summary Entry Insurance expense 20
21–78 Intermediate Accounting, 8/e
Problem 21–8
Direct Method
Cash Flows from Operating Activities:
Cash received from customers $692
Indirect Method
Cash Flows from Operating Activities:
Net income $ 88
Adjustments for noncash effects:
Depreciation expense 123
Problem 21–9
Direct Method
Cash Flows from Operating Activities:
Cash received from customers $926
Indirect Method
Cash Flows from Operating Activities:
Net income $ 40
Adjustments for noncash effects:
Problem 21–10
