Student Name:
Class:
Dec. 31 Changes Dec. 31
2015 Debits Credits 2016
30 12 42
Notes payable
Common stock
Paid-in capital – excess of par
Interest payable
Income tax payable
Bonds payable
35 7 28
5 3 2
Interest expense
Loss on sale of land
Income tax expense
Expenses:
Cost of goods sold
Depreciation expense
Salaries expense
380 380
McGraw-Hill/Irwin
Instructor
Problem 21-02
Revenues:
Sales revenue
Statement of Income
Liabilities:
Accounts payable
Salaries payable
Spreadsheet for the Statement of Cash Flows
WRIGHT COMPANY
Balance Sheet
Assets:
Cash
Accounts receivable
Short-term investment
Inventory
Buildings and equipment
Less: Acc. depreciation
Student Name:
Class:
McGraw-Hill/Irwin
Instructor
Problem 21-02
382
142
Operating activities:
Cash inflows:
From customers
Cash outflows:
To suppliers of goods
Statement of Cash Flows
Sale of common stock
Payment of cash dividends
Net cash flows
Totals
Purchase of ST investment
Purchase of equipment
Financing activities:
Repayment of notes payable
Sale of bonds payable
Net cash flows
Sale of land
Net cash flows
To employees
For interest expense
For income taxes
Investing activities:
Student Name:
Class:
McGraw-Hill/Irwin
Instructor
Problem 21-02
382$
Cash outflows:
Cash flows from operating activities:
Cash inflows:
From customers
For year ended December 31, 2016 (in $000)
Statement of Cash Flows
WRIGHT COMPANY
Net cash flows from financing activities
Cash balance, January 1
To suppliers of goods
To employees
For interest
Sale of land
Purchase of short-term investment
Purchase of equipment
Net cash flows from investing activities
Repayment of notes payable
Sale of bonds payable
Sale of common stock
Payment of cash dividends
For income taxes
Net cash flows from operating activities
Cash flows from investing activities:
Cash flows from financing activities:
Net increase in cash
Additional information:
Given Data P21-02:
Original land cost
Land selling price
Common stock purchase
New equipment cost
Note payment, 1/1/2016
Bond sale, 1/1/2016
Common stock sold
Common stock par
Net income
Cash dividends paid
Student Name:
Class:
Dec. 31 Changes Dec. 31
2015 Debits Credits 2016
20 13 33
Less: Treasury stock (at cost)
Common stock
Paid-in capital – excess of par
Retained earnings
Interest payable
Income tax payable
Notes payable
Bonds payable
Less: Discount on bonds
20 7 13
5 3 2
Expenses:
Cost of goods sold
Loss on sale of building
Salaries expense
Depreciation expense
Interest expense
Income tax expense
200 200
3 3
Problem 21-04
McGraw-Hill/Irwin
Instructor
Sales revenue
Dividend revenue
Statement of Income
Revenues:
Salaries payable
Spreadsheet for the Statement of Cash Flows ($ in 000s)
DUX COMPANY
Balance Sheet
Asset:
Liabilities:
Accounts payable
Cash
Buildings and equipment
Less: Acc. depreciation
Accounts receivable
Dividends receivable
Inventory
Long-term investment
Student Name:
Class:
Problem 21-04
McGraw-Hill/Irwin
Instructor
203
From customers
Statement of Cash Flows
Operating activities:
Cash inflows:
Financing activities:
Sale of bonds payable
Payment of cash dividends
Purchase of treasury stock
Net increase in cash
Investing activities:
Sale of building
Purchase of LT investment
Purchase of equipment
Net cash flows
Net cash flows
Net cash flows
From dividends received
Cash outflows:
To suppliers of goods
To employees
For interest expense
For income taxes
Student Name:
Class:
Problem 21-04
McGraw-Hill/Irwin
Instructor
Sale of building
Purchase of long-term investment
Purchase of equipment
To suppliers of goods
To employees
For interest
For income taxes
Net cash flows from operating activities
Cash flows from investing activities:
203$
2
(13)
Correct!
Net cash flows from investing activities
Cash outflows:
Cash flows from operating activities:
Cash flows from financing activities:
Cash inflows:
From customers
From dividends received
For year ended December 31, 2016 (in $000)
Statement of Cash Flows
DUX COMPANY
Cash balance, January 1
Acquired $30,000 of land by issuing a 13%, 7-year note.
Sale of bonds payable
Payment of cash dividends
Purchase of treasury stock
Net cash flows from financing activities
Net increase in cash
Noncash investing and financing activities:
Note payable interest
Equipment purchase
Bond sale, 1/1/16
Stock dividend issue (1,000 shares)
Note payable for property
Building cost
Building selling price
Building depreciated
Common stock purchased as long term investment
10$
14$
Common stock par value
Market price per share
DUX COMPANY
Given Data P21-04:
Balance Sheet and Income Statement data are given in the
solution.
Additional information:
Cash dividends paid
Number of common stock shares repurchased
Common stock repurchase cost
Student Name:
Class:
Dec. 31 Changes Dec. 31
2015 Debits Credits 2016
375 225 600
450 150 600
Common stock
Paid-in capital – excess of par
Lease liability – land
450 300 750
225 75 300
Amortization of patent
Loss on sale of equipment
Operating expenses
Depreciation expense-equip.
Depreciation expense-build.
2,645 2,645
90 90
600 (600)
Instructor
Problem 21-05
McGraw-Hill/Irwin
Revenues:
Sales revenue
Gain on sale of land
Expenses:
Cost of goods sold
Income Statement
Liabilities:
Accrued expenses
Spreadsheet for the Statement of Cash Flows ($ in 000s)
METAGROBOLIZE INDUSTRIES
Balance Sheet
Assets:
Accounts payable
Cash
Accounts receivable
Less: Acc. depreciation
Equipment
Less: Acc. depreciation
Patent
Inventory
Building
Student Name:
Class:
Instructor
Problem 21-05
McGraw-Hill/Irwin
2,495
675
Cash outflows:
To suppliers of goods
For operating expenses
Net cash flows from operating activities
2,495$
Cash balance, January 1
Sale of equipment
Net cash flows from investing activities
Payment of cash dividends
Net cash flows from financing activities
Net increase in cash
Cash flows from financing activities:
(900)
165
150$
Correct!
Purchase of equipment
Land acquired by lease
Sale of land
Noncash investing and financing activities:
Cash flows from investing activities:
Cash flows from operating activities:
Cash inflows:
From customers
Operating activities:
Cash inflows:
From customers
To suppliers of goods
Cash outflows:
Statement of Cash Flows
For year ended December 31, 2016 (in $000)
Statement of Cash Flows
METAGROBOLIZE INDUSTRIES
Payment of cash dividends
Net increase in cash
Totals
Net cash flows
Net cash flows
For operating expenses
Investing activities:
Purchase of equipment
Sale of land
Net cash flows
Sale of equipment
Financing activities:
Balance Sheet and Income Statement data
Given Data P21-05:
are given in the solution.
Cash dividend
Stock dividend
Equipment cost