Ins Del Chapter 13 Statement of Cash Fiows 65 ns Series B PR

Ins Del Chapter 13 Statement of Cash Fiows 65 ns: Series B PR 13-18 Statement of cash flows-indirect method om The comparative balance sheet of Merrick Equipment Co for December 31, 2019 and 0 Obj 2, 3, 4,5 ies, is as follows 260 Dec. 31, 20YS Dec. 31, 20YS Cash Accounts receivable Inet) Inventories Investments.... Land. Equipment. Accumulated depreciation-equipment Total assets 47 90 188,190 207230 298.520 289,850 295,800 58020 99 110 84320 $1,211,760 -1.00 Liabilities and Stockholders\' Equity Accounts payable (merchandise creditors) $194,140 Accrued expenses payable loperating expenses. 30,600 Common stock, $1 par Paid-in capital: Excess of issue price over par-common stock.... Retained earnings Total liabilities and stockholders\' equity 51.211.760 $901.680 Additional data obtained from an as follows: A. Equipment and land were acquired for cash B. There were no disposals of equipment during the year C. The investments were sold for $91,800 cash D. The common stock was issued for cash. E. There was a $141,680 credit to Retained Earnings for net income. F. There was a $102,000 debit to Retained Eamings for cash dividends declared. Instructions Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Obj-2,3,4,5 PR 13-2B Statement of cash flows-indirect method The comparative balance sheet of Harris Industries Inc. at December 31, 20V4 and 2013 as follows: Dec. 31. 2014 Dec. 31,20Y3 $ 443,240 $ 360.920 592200 Cash Accounts receivable (net) Inventories Prepaid expenses 887 880 31.640 302400 25,200 1,713,600 1,134,000 Accumulated depreciation-buildings … Machinery and equipment [466,200) 781,200 214,200) 106.960 414,540) 781,200 191,520) and $4.251.800 Patents Total assets...

Solution

Merrick Equipment Co. Statement of Cash Flows For the Year Ended December 31, 20Y9 Cash flows from operating activities: Net income 141680 Adjustments to reconcile net income to net cash flow from operating activities: Depreciation expense 14790 Loss on sale of investment 10200 Changes in current operating assets and liabilities: Increase in accounts receivable -19040 Increase in inventories -8670 Increase in accounts payable 11560 Increase in accrued expenses payable 3740 Net cash flow from operating activities 154260 Cash flows from (used for) investing activities: Sale of investment 91800 Purchase of Land -295800 Purchase of Equipment -80580 Net cash flow used for investing activities -284580 Cash flows from (used for) financing activities: Issuance of Common Stock for cash 250000 Cash dividends paid -96900 Net cash flow from financing activities 153100 Net increase in cash 22780 Cash at the beginning of the year 47940 Cash at the end of the year 70720