In: Accounting
Exercise 13-7
Rojas Corporation’s comparative balance sheets are presented
below.
ROJAS CORPORATION
Comparative Balance Sheets
December 31
2017
2016
Cash
$ 15,000
$ 10,200
Accounts receivable
21,400
23,800
Land
19,800
26,400
Buildings
70,100
70,100
Accumulated depreciation—buildings
(15,300
)
(10,800
)
Total
$111,000
$119,700
Accounts payable
$ 12,800
$ 27,800
Common stock
74,600
73,400
Retained earnings
23,600
18,500
Total
$111,000
$119,700
Additional information:
1. Net income was $22,800. Dividends declared and paid were
$17,700.
2. No noncash investing and financing activities occurred during
2017.
3. The land was sold for cash of $4,500.
Prepare a statement of cash flows for 2017 using the indirect
method. (Show amounts that decrease cash flow with either a - sign
e.g. -15,000, or in parenthesis e.g. (15,000).)
ROJAS CORPORATION
Statement of Cash Flows
For the Month Ended December 31, 2017
For the Year Ended December 31, 2017
December 31, 2017
Cash at Beginning of Period
Cash at End of Period
Cash Flows from Financing Activities
Cash Flows from Investing Activities
Cash Flows from Operating Activities
Net Cash Provided by Financing Activities
Net Cash Provided by Investing Activities
Net Cash Provided by Operating Activities
Net Cash Used by Financing Activities
Net Cash Used by Investing Activities
Net Cash Used by Operating Activities
Net Decrease in Cash
Net Increase in Cash
Depreciation Expense
Decrease in Accounts Receivable
Increase in Accounts Payable
Gain on Disposal of Land
Payment of Dividends
Decrease in Accounts Payable
Net Income
Loss on Disposal of Land
Increase in Accounts Receivable
Sale of Land
Issuance of Common Stock
$
Adjustments to reconcile net income to
Cash at Beginning of Period
Cash at End of Period
Cash Flows from Financing Activities
Cash Flows from Investing Activities
Cash Flows from Operating Activities
Net Cash Provided by Financing Activities
Net Cash Provided by Investing Activities
Net Cash Provided by Operating Activities
Net Cash Used by Financing Activities
Net Cash Used by Investing Activities
Net Cash Used by Operating Activities
Net Decrease in Cash
Net Increase in Cash
Increase in Accounts Receivable
Decrease in Accounts Payable
Increase in Accounts Payable
Sale of Land
Issuance of Common Stock
Payment of Dividends
Loss on Disposal of Land
Net Income
Gain on Disposal of Land
Depreciation Expense
Decrease in Accounts Receivable
$
Net Income
Depreciation Expense
Loss on Disposal of Land
Increase in Accounts Receivable
Decrease in Accounts Receivable
Decrease in Accounts Payable
Payment of Dividends
Increase in Accounts Payable
Sale of Land
Issuance of Common Stock
Gain on Disposal of Land
Increase in Accounts Receivable
Payment of Dividends
Gain on Disposal of Land
Net Income
Depreciation Expense
Issuance of Common Stock
Loss on Disposal of Land
Decrease in Accounts Receivable
Decrease in Accounts Payable
Increase in Accounts Payable
Sale of Land
Depreciation Expense
Increase in Accounts Receivable
Increase in Accounts Payable
Decrease in Accounts Payable
Sale of Land
Net Income
Issuance of Common Stock
Loss on Disposal of Land
Payment of Dividends
Decrease in Accounts Receivable
Gain on Disposal of Land
Cash at Beginning of Period
Cash at End of Period
Cash Flows from Financing Activities
Cash Flows from Investing Activities
Cash Flows from Operating Activities
Net Cash Provided by Financing
Activities
Net Cash Provided by Investing
Activities
Net Cash Provided by Operating
Activities
Net Cash Used by Financing Activities
Net Cash Used by Investing Activities
Net Cash Used by Operating Activities
Net Decrease in Cash
Net Increase in Cash
Cash at Beginning of Period
Cash at End of Period
Cash Flows from Financing Activities
Cash Flows from Investing Activities
Cash Flows from Operating Activities
Net Cash Provided by Financing Activities
Net Cash Provided by Investing Activities
Net Cash Provided by Operating Activities
Net Cash Used by Financing Activities
Net Cash Used by Investing Activities
Net Cash Used by Operating Activities
Net Decrease in Cash
Net Increase in Cash
Increase in Accounts Receivable
Net Income
Increase in Accounts Payable
Sale of Land
Issuance of Common Stock
Gain on Disposal of Land
Depreciation Expense
Payment of Dividends
Decrease in Accounts Payable
Loss on Disposal of Land
Decrease in Accounts Receivable
Cash at Beginning of Period
Cash at End of Period
Cash Flows from Financing Activities
Cash Flows from Investing Activities
Cash Flows from Operating Activities
Net Cash Provided by Financing Activities
Net Cash Provided by Investing Activities
Net Cash Provided by Operating Activities
Net Cash Used by Financing Activities
Net Cash Used by Investing Activities
Net Cash Used by Operating Activities
Net Decrease in Cash
Net Increase in Cash
Increase in Accounts Receivable
Decrease in Accounts Payable
Depreciation Expense
Decrease in Accounts Receivable
Payment of Dividends
Loss on Disposal of Land
Increase in Accounts Payable
Issuance of Common Stock
Sale of Land
Gain on Disposal of Land
Net Income
$
Increase in Accounts Payable
Gain on Disposal of Land
Increase in Accounts Receivable
Decrease in Accounts Payable
Sale of Land
Loss on Disposal of Land
Net Income
Issuance of Common Stock
Payment of Dividends
Depreciation Expense
Decrease in Accounts Receivable
Cash at Beginning of Period
Cash at End of Period
Cash Flows from Financing Activities
Cash Flows from Investing Activities
Cash Flows from Operating Activities
Net Cash Provided by Financing
Activities
Net Cash Provided by Investing
Activities
Net Cash Provided by Operating
Activities
Net Cash Used by Financing Activities
Net Cash Used by Investing Activities
Net Cash Used by Operating Activities
Net Decrease in Cash
Net Increase in Cash
Cash at Beginning of Period
Cash at End of Period
Cash Flows from Financing Activities
Cash Flows from Investing Activities
Cash Flows from Operating Activities
Net Cash Provided by Financing Activities
Net Cash Provided by Investing Activities
Net Cash Provided by Operating Activities
Net Cash Used by Financing Activities
Net Cash Used by Investing Activities
Net Cash Used by Operating Activities
Net Decrease in Cash
Net Increase in Cash
Cash at Beginning of Period
Cash at End of Period
Cash Flows from Financing Activities
Cash Flows from Investing Activities
Cash Flows from Operating Activities
Net Cash Provided by Financing Activities
Net Cash Provided by Investing Activities
Net Cash Provided by Operating Activities
Net Cash Used by Financing Activities
Net Cash Used by Investing Activities
Net Cash Used by Operating Activities
Net Decrease in Cash
Net Increase in Cash
Cash at Beginning of Period
Cash at End of Period
Cash Flows from Financing Activities
Cash Flows from Investing Activities
Cash Flows from Operating Activities
Net Cash Provided by Financing Activities
Net Cash Provided by Investing Activities
Net Cash Provided by Operating Activities
Net Cash Used by Financing Activities
Net Cash Used by Investing Activities
Net Cash Used by Operating Activities
Net Decrease in Cash
Net Increase in Cash
$
LINK TO TEXT
LINK TO TEXT
Compute free cash flow. (Enter negative amount using either a
negative sign preceding the number e.g. -45 or parentheses e.g.
(45).)
Free cash flow
$