Homework Answers
Solution
| Whitman Co. | ||
| Cash Flow Statement | ||
| For the Year Ended December 31, 20Y2 | ||
| Cash Flow from Operating Activities: | ||
| Net Income | -$ 22,600 | |
| Adjustments to reconcile net loss to net cash flow from operating activities | ||
| Depreciation expense | $ 41,220 | |
| Loss on sale of land | $ 7,760 | |
| Changes in current operating assets and liabilities: | ||
| Decrease in accounts payable | -$ 34,440 | |
| Increase in Accounts receivables | -$ 50,340 | |
| Increase in Inventory | -$ 69,230 | |
| Decrease in Prepaid Expenses | $ 3,770 | |
| A. Cash Flow from Operating Activities | -$ 1,23,860 | |
| Cash Flow from Investing Activities: | ||
| Purchase of Building | -$ 3,83,880 | |
| Sale of Land | $ 103,000 | |
| Purchase of Equipment | -$ 75,200 | |
| B. Cash flow from Investing Activities | -$ 3,56,080 | |
| Cash Flow from Financing Activities: | ||
| Dividend paid | -$ 24,330 | |
| Proceeds from Bonds issue | $ 183,680 | |
| Issue of Common shares | $ 272,000 | |
| C. Cash Flow from Financing Activities | $ 431,350 | |
| Increase (Decrease) in cash [A+B+C] | -$ 48,590 | |
| Add: cash at the beginning of the year | $ 677,900 | |
| Cash at the end of the year | $ 629,310 | |
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EBOOK calciator Statement of Cash Flows-Indirect Method The comparative balance sheet of Whitman Co. at December...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Whitman Co. at December 31, 20Y2...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Whitman Co. at December 31, 20Y2 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $ 575,690 $ 620,980 Accounts receivable (net) 523,880 477,820 Inventories 794,450 731,130 Prepaid expenses 18,420 21,880 Land 198,040 299,360 Buildings 915,350 564,180 Accumulated depreciation-buildings (259,060) (241,790) Equipment 322,390 284,970 Accumulated depreciation-equipment (88,660) (99,590) Total assets $3,000,500 $2,658,940 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $ 570,100 $ 601,600 Bonds payable...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Whitman Co. at December 31, 20Y2...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Whitman Co. at December 31, 20Y2 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $ 792,160 $ 851,660 Accounts receivable (net) 720,870 657,490 Inventories 1,093,180 1,006,040 Prepaid expenses 25,350 30,100 Land 272,500 411,920 Buildings 1,259,530 776,320 Accumulated depreciation-buildings (356,470) (332,710) Equipment 443,610 392,120 Accumulated depreciation-equipment (121,990) (137,040) Total assets $4,128,740 $3,655,900 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $ 784,460 $ 827,810 Bonds payable...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Whitman Co. at December 31, 20Y2...
Statement of Cash Flows—Indirect Method
The comparative balance sheet of Whitman Co. at December 31,
20Y2 and 20Y1, is as follows:
Dec. 31,
20Y2
Dec. 31,
20Y1
Assets
Cash
$ 606,710
$ 655,870
Accounts receivable (net)
552,110
503,570
Inventories
837,260
770,520
Prepaid expenses
19,410
23,050
Land
208,710
315,490
Buildings
964,670
594,580
Accumulated depreciation-buildings
(273,020)
(254,820)
Equipment
339,760
300,320
Accumulated depreciation-equipment
(93,430)
(104,960)
Total assets
$3,162,180
$2,803,620
Liabilities and Stockholders'
Equity
Accounts payable (merchandise creditors)
$ 600,810
$ 634,010
Bonds payable...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Whitman Co. at December 31, 20Y2...
Statement of Cash Flows—Indirect Method
The comparative balance sheet of Whitman Co. at December 31,
20Y2 and 20Y1, is as follows:
Dec. 31,
20Y2
Dec. 31,
20Y1
Assets
Cash
$ 749,880
$ 807,890
Accounts receivable (net)
682,390
622,400
Inventories
1,034,830
952,350
Prepaid expenses
24,000
28,500
Land
257,960
389,940
Buildings
1,192,310
734,880
Accumulated depreciation-buildings
(337,450)
(314,950)
Equipment
419,930
371,190
Accumulated depreciation-equipment
(115,480)
(129,730)
Total assets
$3,908,370
$3,462,470
Liabilities and Stockholders'
Equity
Accounts payable (merchandise creditors)
$ 742,590
$ 783,620
Bonds payable...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Whitman Co. at December 31, 20Y2 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $ 809,500 $ 869,830 Accounts...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Whitman Co. at December 31, 20Y2 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $ 809,500 $ 869,830 Accounts receivable (net) 736,650 671,890 Inventories 1,117,110 1,028,070 Prepaid expenses 25,900 30,760 Land 278,470 420,940 Buildings 1,287,110 793,310 Accumulated depreciation-buildings (364,280) (339,990) Equipment 453,320 400,700 Accumulated depreciation-equipment (124,660) (140,040) Total assets $4,219,120 $3,735,470 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $ 801,630 $ 845,930 Bonds payable...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Coulson, Inc. at December 31, 20Y2...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Coulson, Inc. at December 31, 20Y2 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $300,600 $337,800 Accounts receivable (net) 704,400 609,600 Inventories 918,600 865,800 Prepaid expenses 18,600 26,400 Land 990,000 1,386,000 Buildings 1,980,000 990,000 Accumulated depreciation—buildings (397,200) (366,000) Equipment 660,600 529,800 Accumulated depreciation—equipment (133,200) (162,000) Total assets $5,042,400 $4,217,400 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $594,000 $631,200 Income taxes payable 26,400 21,600 Bonds...
The comparative balance sheet of Whitman Co. at December 31, 20Y2 and 20Y1, is as follows:...
The comparative balance sheet of Whitman Co. at December 31, 20Y2 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $ 709,720 $ 763,230 Accounts receivable (net) 645,850 589,070 Inventories 979,410 901,340 Prepaid expenses 22,710 26,970 Land 244,140 369,050 Buildings 1,128,450 695,530 Accumulated depreciation-buildings (319,370) (298,080) Equipment 397,440 351,310 Accumulated depreciation-equipment (109,300) (122,780) Total assets $3,699,050 $3,275,640 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $ 702,820 $ 741,660 Bonds payable 207,150 0 Common stock, $20...
The comparative balance sheet of Whitman Co. at December 31, 20Y2 and 20Y1, is as follows:...
The comparative balance sheet of Whitman Co. at December 31, 20Y2 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $ 738,430 $ 794,580 Accounts receivable (net) 671,970 612,900 Inventories 1,019,030 937,810 Prepaid expenses 23,630 28,060 Land 254,020 383,980 Buildings 1,174,100 723,660 Accumulated depreciation-buildings (332,290) (310,140) Equipment 413,520 365,520 Accumulated depreciation-equipment (113,720) (127,750) Total assets $3,848,690 $3,408,620 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $ 731,250 $ 771,660 Bonds payable 215,530 0 Common stock, $20...
The comparative balance sheet of Whitman Co. at December 31, 20Y2 and 20Y1, is as follows:...
The comparative balance sheet of Whitman Co. at December 31, 20Y2 and 20Y1, is as follows: 1 Dec. 31, 20Y2 Dec. 31, 20Y1 2 Assets 3 Cash $918,000.00 $964,800.00 4 Accounts receivable (net) 828,900.00 761,940.00 5 Inventories 1,268,460.00 1,162,980.00 6 Prepaid expenses 29,340.00 35,100.00 7 Land 315,900.00 479,700.00 8 Buildings 1,462,500.00 900,900.00 9 Accumulated depreciation-buildings (408,600.00) (382,320.00) 10 Equipment 512,280.00 454,680.00 11 Accumulated depreciation-equipment (141,300.00) (158,760.00) 12 Total assets $4,785,480.00 $4,219,020.00 13 Liabilities and Stockholders’ Equity 14 Accounts payable (merchandise...
PR 16-3A Statement of cash flows—indirect method The comparative balance sheet of Whitman Co. at December...
PR 16-3A Statement of cash flows—indirect method
The comparative balance sheet of Whitman Co. at December 31,
2016 and 2015, is as follows:
The noncurrent asset, noncurrent liability, and stockholders’
equity accounts for 2016 are as follows:
Dec. 31, 2016 Dec. 31, 2015 Assets Cash 918,000 964,800 761,940 1,162,980 35,100 479,700 900,900 (408,600) (382,320) 54,680 141,300 (158,760) $4,785,480 $4,219,020 828,900 1,268,460 29,340 315,900 1,462,500 512,280 Liabilities and Stockholders' Equity 922,500 958,320 0 117,000 558,000 2,585,700 $4,785,480 $4,219,020 270,000 317,000 758,000...
Statement of Cash Flows—Indirect Method
The comparative balance sheet of Whitman Co. at December 31,
20Y2 and 20Y1, is as follows:
Dec. 31,
20Y2
Dec. 31,
20Y1
Assets
Cash
$ 606,710
$ 655,870
Accounts receivable (net)
552,110
503,570
Inventories
837,260
770,520
Prepaid expenses
19,410
23,050
Land
208,710
315,490
Buildings
964,670
594,580
Accumulated depreciation-buildings
(273,020)
(254,820)
Equipment
339,760
300,320
Accumulated depreciation-equipment
(93,430)
(104,960)
Total assets
$3,162,180
$2,803,620
Liabilities and Stockholders'
Equity
Accounts payable (merchandise creditors)
$ 600,810
$ 634,010
Bonds payable...
Statement of Cash Flows—Indirect Method
The comparative balance sheet of Whitman Co. at December 31,
20Y2 and 20Y1, is as follows:
Dec. 31,
20Y2
Dec. 31,
20Y1
Assets
Cash
$ 749,880
$ 807,890
Accounts receivable (net)
682,390
622,400
Inventories
1,034,830
952,350
Prepaid expenses
24,000
28,500
Land
257,960
389,940
Buildings
1,192,310
734,880
Accumulated depreciation-buildings
(337,450)
(314,950)
Equipment
419,930
371,190
Accumulated depreciation-equipment
(115,480)
(129,730)
Total assets
$3,908,370
$3,462,470
Liabilities and Stockholders'
Equity
Accounts payable (merchandise creditors)
$ 742,590
$ 783,620
Bonds payable...
PR 16-3A Statement of cash flows—indirect method
The comparative balance sheet of Whitman Co. at December 31,
2016 and 2015, is as follows:
The noncurrent asset, noncurrent liability, and stockholders’
equity accounts for 2016 are as follows:
Dec. 31, 2016 Dec. 31, 2015 Assets Cash 918,000 964,800 761,940 1,162,980 35,100 479,700 900,900 (408,600) (382,320) 54,680 141,300 (158,760) $4,785,480 $4,219,020 828,900 1,268,460 29,340 315,900 1,462,500 512,280 Liabilities and Stockholders' Equity 922,500 958,320 0 117,000 558,000 2,585,700 $4,785,480 $4,219,020 270,000 317,000 758,000...
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