Assianment Open Assignment URCES The as of December 31 are p

Assianment> Open Assignment URCES The as of December 31 are presented below Lesson 2/Chapter 13 ROTHLISBERGER COMPANY Comparative Balance Sheets ber 31 2017 40,800 13,900 Accounts receivable Inventory Prepaid expenses Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment $46,100 63,600 151,600 142,500 21,600 99,200 130,100 199,200 199,200 (58,700) (34,100) 157,700 (43,300)(35,000) 692,900 $691,700 231,300 Liabilities and Stockholders\' Equity Accounts payable Bonds payable $46,400 $39,800 Common stock, $1 par Retained earnings 260,000 294,100 158,200 199,600 $692,900 $691,700 192,300 194,200 Total Additional information: 1. Operating expenses include depreciation expense of $42,000 and charges from prepaid expenses of $7,700 2. Land was sold for cash at book value 3. Cash dividends of $51,400 were paid. 4. Net income for 2017 was $46,000 5. Equipment was purchased for $95,400 cash. In addition, equipment costing $21,800 with a book value of $12,700 was sold for $5,700 cash Bonds were converted at face value by issuing 34,100 shares of $1 par value common stock. December 31 201 7 Type here to search [D

Solution

Cash flow from operating activities Net income 46000 Adjustments to reconcile the net income Depreciation expense 42000 Loss on sale of equipment 7000 Changes in current asset and liabilities Decrease in accounts receivable 22800 Increase in Inventory -9100 decrease in prepaid expensse 7700 Increase in accounts payable 6600 77000 Cash flow from operating activities 123000 Cash flow from Investing activities Sale of land 30900 Purchase of Equipment -95400 Sales of eqipment 5700 Cash flow from Investing activities -58800 Cash flow from Financing activities Divided paid -51400 Cash flow from Financing activities -51400 Net Cash and cash equivalent 12800 Add Beginning cash and cash equivalent 46100 Ending cash and cash equivalent 58900