eBook Calculator Print Item Statement of Cash FlowsDirect Me

eBook Calculator Print Item Statement of Cash Flows-Direct Method applied to PR 13-18 The comparative balance sheet of Merrick Equipment Co. for Dec. 31, 20Y9 and 20YB, is: Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Cash Accounts receivable (net) Inventories Investments Land Equipment Accumulated depreciation-equipment $70,720 207,230 298,520 0 295,800 438,600 (99,110) $1,211,760 $47,940 188,190 289,850 102,000 0 358,020 (84,320) $901,680 Total assets Liabilities and Stockholders\' Equity Accounts payable (merchandise creditors) Accrued expenses payable (operating expenses) Dividends payable Common stow, $1 par Paid-in capital: Excess of issue price over par-common stock Retained earnings $205,700 30,600 25,500 202,000 354,000 393,960 $1,211,760 $194,140 26,860 20,400 102,000 204,000 354,280 $901,680 Total liabilities and stockholders\' equity The income statement for the year ended December 31, 20Y9, is as follows 89

Solution

cash flow Statement Cash flows from operating activities cash received from customer 2004858 cash payment for merchandise -1242586 cash paid f ro operating expense -513559 cash payment for income tax -94453 Net cash provided from operating activities 154260 Cash flows from investing activities: cashh recceived from sale of investment 91800 cash paid for land purchase -295800 Cash paid for purchase of equipment -80580 Net cash used for investing activities -284580 Cash flows from Financing activities: Cash received from Issue of shares 250000 Dividend paid -96900 Net cash provided from financing activities 153100 Net cash increase 22780 Cash balance in beginning 47940 Ending balance of cash 70720