Question

In: Accounting

The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as...

The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows:

Dec. 31, 20Y9 Dec. 31, 20Y8
Assets
Cash $231,230 $217,330
Accounts receivable (net) 83,760 78,050
Inventories 236,470 231,100
Investments 0 89,530
Land 121,280 0
Equipment 260,890 204,320
Accumulated depreciation—equipment (61,080) (55,100)
Total assets $872,550 $765,230
Liabilities and Stockholders' Equity
Accounts payable $157,930 $150,750
Accrued expenses payable 15,710 19,900
Dividends payable 8,730 6,890
Common stock, $10 par 47,120 37,500
Paid-in capital: Excess of issue price over par-common stock 177,130 104,070
Retained earnings 465,930 446,120
Total liabilities and stockholders’ equity $872,550 $765,230

Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows:

Equipment and land were acquired for cash.

There were no disposals of equipment during the year.

The investments were sold for $80,580 cash.

The common stock was issued for cash.

There was a $55,780 credit to Retained Earnings for net income.

There was a $35,970 debit to Retained Earnings for cash dividends declared.

Required:

Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments.

Merrick Equipment Co.
Statement of Cash Flows
For the Year Ended December 31, 20Y9
Cash flows from operating activities:
$
Adjustments to reconcile net income to net cash flow from operating activities:
Changes in current operating assets and liabilities:
Net cash flow from operating activities $
Cash flows from (used for) investing activities:
$
Net cash flow used for investing activities
Cash flows from (used for) financing activities:
Net cash flow from financing activities
$
Cash at the beginning of the year
Cash at the end of the year

Solutions

Expert Solution

ekkarill92 answered 1 year ago
Next > < Previous

Related Solutions

The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as...
The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Cash $241,860 $226,540 Accounts receivable (net) 87,620 81,360 Inventories 247,340 240,900 Investments 0 93,330 Land 126,860 0 Equipment 272,890 212,980 Accumulated depreciation—equipment (63,890) (57,430) Total assets $912,680 $797,680 Liabilities and Stockholders' Equity Accounts payable $165,200 $157,140 Accrued expenses payable 16,430 20,740 Dividends payable 9,130 7,180 Common stock, $10 par 49,280 39,090 Paid-in capital: Excess of issue...
The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as...
The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Cash $267,860 $251,190 Accounts receivable (net) 97,040 90,210 Inventories 273,940 267,110 Investments 0 103,480 Land 140,500 0 Equipment 302,230 236,150 Accumulated depreciation—equipment (70,760) (63,680) Total assets $1,010,810 $884,460 Liabilities and Stockholders' Equity Accounts payable $182,960 $174,240 Accrued expenses payable 18,190 23,000 Dividends payable 10,110 7,960 Common stock, $10 par 54,580 43,340 Paid-in capital: Excess of issue...
The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as...
The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Cash $249,490 $231,820 Accounts receivable (net) 90,380 83,260 Inventories 255,140 246,510 Investments 0 95,500 Land 130,870 0 Equipment 281,500 217,940 Accumulated depreciation—equipment (65,900) (58,770) Total assets $941,480 $816,260 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $170,410 $160,800 Accrued expenses payable (operating expenses) 16,950 21,220 Dividends payable 9,410 7,350 Common stock, $10 par 50,840 40,000 Paid-in...
The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as...
The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Cash $263,640 $244,690 Accounts receivable (net) 95,510 87,880 Inventories 269,610 260,190 Investments 0 100,800 Land 138,290 0 Equipment 297,470 230,040 Accumulated depreciation—equipment (69,640) (62,030) Total assets $994,880 $861,570 Liabilities and Stockholders' Equity Accounts payable $180,070 $169,730 Accrued expenses payable 17,910 22,400 Dividends payable 9,950 7,750 Common stock, $10 par 53,720 42,220 Paid-in capital: Excess of issue...
The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as...
The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Cash $239,880 $222,120 Accounts receivable (net) 86,900 79,770 Inventories 245,310 236,190 Investments 0 91,510 Land 125,820 0 Equipment 270,660 208,820 Accumulated depreciation—equipment (63,360) (56,310) Total assets $905,210 $782,100 Liabilities and Stockholders' Equity Accounts payable $163,840 $154,070 Accrued expenses payable 16,290 20,330 Dividends payable 9,050 7,040 Common stock, $10 par 48,880 38,320 Paid-in capital: Excess of issue...
The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as...
The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Cash $278,690 $259,850 Accounts receivable (net) 100,960 93,320 Inventories 285,010 276,320 Investments 0 107,050 Land 146,180 0 Equipment 314,450 244,290 Accumulated depreciation—equipment (73,620) (65,880) Total assets $1,051,670 $914,950 Liabilities and Stockholders' Equity Accounts payable $190,350 $180,250 Accrued expenses payable 18,930 23,790 Dividends payable 10,520 8,230 Common stock, $10 par 56,790 44,830 Paid-in capital: Excess of issue...
The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as...
The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Cash $306,870 $282,830 Accounts receivable (net) 111,170 101,580 Inventories 313,830 300,760 Investments 0 116,520 Land 160,960 0 Equipment 346,240 265,900 Accumulated depreciation—equipment (81,060) (71,700) Total assets $1,158,010 $995,890 Liabilities and Stockholders' Equity Accounts payable $209,600 $196,190 Accrued expenses payable 20,840 25,890 Dividends payable 11,580 8,960 Common stock, $10 par 62,530 48,800 Paid-in capital: Excess of issue...
The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as...
The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Cash $286,470 $266,790 Accounts receivable (net) 103,780 95,820 Inventories 292,960 283,710 Investments 0 109,910 Land 150,260 0 Equipment 323,220 250,820 Accumulated depreciation—equipment (75,670) (67,640) Total assets $1,081,020 $939,410 Liabilities and Stockholders' Equity Accounts payable $195,660 $185,060 Accrued expenses payable 19,460 24,420 Dividends payable 10,810 8,450 Common stock, $10 par 58,380 46,030 Paid-in capital: Excess of issue...
The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as...
The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Cash $294,260 $275,940 Accounts receivable (net) 106,600 99,110 Inventories 300,920 293,430 Investments 0 113,680 Land 154,350 0 Equipment 332,020 259,420 Accumulated depreciation—equipment (77,730) (69,960) Total assets $1,110,420 $971,620 Liabilities and Stockholders' Equity Accounts payable $200,990 $191,410 Accrued expenses payable 19,990 25,260 Dividends payable 11,100 8,740 Common stock, $10 par 59,960 47,610 Paid-in capital: Excess of issue...
The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as...
The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Cash $70,720 $47,940 Accounts receivable (net) 207,230 188,190 Inventories 298,520 289,850 Investments 0 102,000 Land 295,800 0 Equipment 438,600 358,020 Accumulated depreciation—equipment (99,110) (84,320) Total assets $1,211,760 $901,680 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $205,700 $194,140 Accrued expenses payable (operating expenses) 30,600 26,860 Dividends payable 25,500 20,400 Common stock, $1 par 202,000 102,000 Paid-in...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT