Question

In: Accounting

Statement of Cash Flows—Indirect Method The comparative balance sheet of Livers Inc. for December 31, 20Y3...

Statement of Cash Flows—Indirect Method The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is shown as follows: Dec. 31, 20Y3 Dec. 31, 20Y2 Assets Cash $291,640 $273,170 Accounts receivable (net) 105,650 98,110 Inventories 298,250 290,480 Investments 0 112,540 Land 152,980 0 Equipment 329,060 256,820 Accumulated depreciation—equipment (77,040) (69,250) Total assets $1,100,540 $961,870 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $199,200 $189,490 Accrued expenses payable (operating expenses) 19,810 25,010 Dividends payable 11,010 8,660 Common stock, $10 par 59,430 47,130 Paid-in capital: Excess of issue price over par-common stock 223,410 130,810 Retained earnings 587,680 560,770 Total liabilities and stockholders’ equity $1,100,540 $961,870 Additional data obtained from an examination of the accounts in the ledger for 20Y3 are as follows: The investments were sold for $131,670 cash. Equipment and land were acquired for cash. There were no disposals of equipment during the year. The common stock was issued for cash. There was a $72,120 credit to Retained Earnings for net income. There was a $45,210 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. Livers Inc. Statement of Cash Flows For the Year Ended December 31, 20Y3 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 investing activities: $ Net cash flow used for investing activities Cash flows from 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

LIVERS INC

CASH FLOW STATEMENT

31 DEC20 Y3
cash flow from operating activity
Net income 72120
Adjustement to reconcile net income to cash flow from operating activity
Depreciation [77040-69250] 7790
Gain on sale of investment [131670-112540] (19130)
Increase in receivable [105650-98110] (7540)
Increase in inventory[298250-290480] (7770)
increase in accounts payable[ 9710
Decrease in accrued expense (5200) (22140)
net cash flow from operating activity 49980
cash flow from investing acivity
sale of investment 131670
purchase of equipment (72240)
purchase of land (152980)
net cash used by investing activity (93550)
cash flow from financing activity

issue of common stock [(59430+223410)-(130810+47130)]

 104900
dividend paid [8660+45210-11010] (42860)
net cash fow from financing activity 62040
increase/decrease) in cash 18470
Beginning cash 273170
Cash at end 291640

ekkarill92 answered 1 year ago
Next > < Previous

Related Solutions

Statement of Cash Flows—Indirect Method The comparative balance sheet of Livers Inc. for December 31, 20Y3...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is shown as follows: Dec. 31, 20Y3 Dec. 31, 20Y2 Assets Cash $300,080 $277,530 Accounts receivable (net) 108,710 99,680 Inventories 306,860 295,120 Investments 0 114,340 Land 157,400 0 Equipment 338,580 260,920 Accumulated depreciation—equipment (79,270) (70,360) Total assets $1,132,360 $977,230 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $204,960 $192,510 Accrued expenses payable (operating expenses) 20,380 25,410 Dividends payable 11,320 8,800 Common stock,...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Livers Inc. for December 31, 20Y3...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is shown as follows: Dec. 31, 20Y3 Dec. 31, 20Y2 Assets Cash $222,990 $209,100 Accounts receivable (net) 80,780 75,100 Inventories 228,030 222,360 Investments 0 86,140 Land 116,960 0 Equipment 251,600 196,590 Accumulated depreciation—equipment (58,900) (53,010) Total assets $841,460 $736,280 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $152,300 $145,050 Accrued expenses payable (operating expenses) 15,150 19,140 Dividends payable 8,410 6,630 Common stock,...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Livers Inc. for December 31, 20Y3...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is shown as follows: Dec. 31, 20Y3 Dec. 31, 20Y2 Assets Cash $256,050 $240,660 Accounts receivable (net) 92,760 86,430 Inventories 261,850 255,910 Investments 0 99,140 Land 134,310 0 Equipment 288,900 226,250 Accumulated depreciation—equipment (67,640) (61,010) Total assets $966,230 $847,380 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $174,890 $166,930 Accrued expenses payable (operating expenses) 17,390 22,030 Dividends payable 9,660 7,630 Common stock,...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Livers Inc. for December 31, 20Y3...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is shown as follows: Dec. 31, 20Y3 Dec. 31, 20Y2 Assets Cash $292,970 $275,040 Accounts receivable (net) 106,130 98,780 Inventories 299,610 292,480 Investments 0 113,310 Land 153,670 0 Equipment 330,560 258,580 Accumulated depreciation—equipment (77,390) (69,730) Total assets $1,105,550 $968,460 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $200,100 $190,790 Accrued expenses payable (operating expenses) 19,900 25,180 Dividends payable 11,060 8,720 Common stock,...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Livers Inc. for December 31, 20Y3...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is shown as follows: Dec. 31, 20Y3 Dec. 31, 20Y2 Assets Cash $313,010 $292,180 Accounts receivable (net) 113,390 104,940 Inventories 320,110 310,700 Investments 0 120,370 Land 164,180 0 Equipment 353,170 274,690 Accumulated depreciation—equipment (82,680) (74,070) Total assets $1,181,180 $1,028,810 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $213,790 $202,680 Accrued expenses payable (operating expenses) 21,260 26,750 Dividends payable 11,810 9,260 Common stock,...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Livers Inc. for December 31, 20Y3...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is shown as follows: Dec. 31, 20Y3 Dec. 31, 20Y2 Assets Cash $241,460 $226,680 Accounts receivable (net) 87,470 81,410 Inventories 246,920 241,060 Investments 0 93,390 Land 126,650 0 Equipment 272,440 213,110 Accumulated depreciation—equipment (63,780) (57,470) Total assets $911,160 $798,180 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $164,920 $157,240 Accrued expenses payable (operating expenses) 16,400 20,750 Dividends payable 9,110 7,180 Common stock,...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Livers Inc. for December 31, 20Y3...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is shown as follows: Dec. 31, 20Y3 Dec. 31, 20Y2 Assets Cash $301,740 $281,660 Accounts receivable (net) 109,310 101,160 Inventories 308,580 299,510 Investments 0 116,040 Land 158,270 0 Equipment 340,460 264,800 Accumulated depreciation—equipment (79,710) (71,410) Total assets $1,138,650 $991,760 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $206,100 $195,380 Accrued expenses payable (operating expenses) 20,500 25,790 Dividends payable 11,390 8,930 Common stock,...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Livers Inc. for December 31, 20Y3...
Statement of Cash Flows—Indirect Method The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is shown as follows: Dec. 31, 20Y3 Dec. 31, 20Y2 Assets Cash $256,770 $237,750 Accounts receivable (net) 93,020 85,390 Inventories 262,580 252,830 Investments 0 97,950 Land 134,680 0 Equipment 289,710 223,520 Accumulated depreciation—equipment (67,830) (60,280) Total assets $968,930 $837,160 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $175,380 $164,920 Accrued expenses payable (operating expenses) 17,440 21,770 Dividends payable 9,690 7,530 Common stock,...
DIRECT METHOD The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is...
DIRECT METHOD The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is as follows: 1 Dec. 31, 20Y3 Dec. 31, 20Y2 2 Assets 3 Cash $625,820.00 $586,050.00 4 Accounts receivable (net) 227,530.00 209,880.00 5 Inventories 641,480.00 616,920.00 6 Investments 0.00 240,910.00 7 Land 327,510.00 0.00 8 Equipment 704,830.00 554,110.00 9 Accumulated depreciation-equipment (165,750.00) (148,570.00) 10 Total assets $2,361,420.00 $2,059,300.00 11 Liabilities and Stockholders’ Equity 12 Accounts payable (merchandise creditors) $424,970.00 $405,330.00 13 Accrued expenses payable (operating...
Sole the follwing problem Statement of cash flows—indirect method The comparative balance sheet of Livers Inc....
Sole the follwing problem Statement of cash flows—indirect method The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is shown as follows: 1 Dec. 31, 20Y3 Dec. 31, 20Y2 2 Assets 3 Cash $625,650.00 $586,340.00 4 Accounts receivable (net) 228,170.00 208,030.00 5 Inventories 641,480.00 617,130.00 6 Investments 0.00 240,290.00 7 Land 328,170.00 0.00 8 Equipment 706,070.00 552,300.00 9 Accumulated depreciation-equipment (165,580.00) (147,010.00) 10 Total assets $2,363,960.00 $2,057,080.00 11 Liabilities and Stockholders’ Equity 12 Accounts payable (merchandise...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT