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6 [25 points] Barton Corporation began operations on January 1, 2013. Its adjusted trial balance at December 31, 2014 and 2015 is shown below. Other
6 [25 points] Barton Corporation began operations on January 1, 2013. Its adjusted trial balance at December 31, 2014 and 2015 is shown below. Other information regarding Barton Corporation and its activities during 2015 follow in (a) through (e): a. Assume all accounts have normal balances. b. Equipment was sold for cash of $10,600. c. Old machinery was sold for cash of $43,200. New machinery was purchased for $25,000 cash. d. Share capital was issued for cash. e. Cash dividends were declared and paid. Using the information provided, prepare a statement of cash flows (using the indirect method) for the year ended December 31, 2015. Barton Corporation Adjusted Trial Balance (select one) Statement of Cash Flows (select one) Account Accounts Payable... Accounts Receivable Accumulated Depreciation, Equipment Accumulated Depreciation, Machinery. Allowance for Doubtful Accounts.. Depreciation Expense, Equipment Depreciation Expense, Machinery.. Cash Cash Dividends. Equipment Machinery... Merchandise Inventory.. Long-term Notes Payable... December 31 2015 2014 56,990 62,000 79,000 89,625 1,700 69,500 6,200 40,000 8,000 14,625 9,100 9,100 8,500 8,500 258,070 230,000 31,000 31,000 13,100 100,000 44,700 107,000 109,910 102,500 63,500 75,000 Other Expenses (including losses).. 570,000 15,000 Retained earnings... Revenues (including gains). Share capital 54,000 60,000 597,600 57,600 301,000 276,000 34,390 38,000 Unearned Revenue Categories: All Headings & Totals Cash Flows Accounts and Headings: Decrease in unearned revenues Depreciation expense Gain on sale of equipment Gain on sale of furniture Gain on sale of machinery Increase in accounts payable Increase in accounts receivable Increase in income taxes payable Increase in merchandise inventory Increase in prepaid expenses Increase in salaries payable Increase in unearned revenues Loss on sale of equipment Loss on sale of furniture Loss on sale of machinery Net cash inflow from financing activities Net cash inflow from investing activities Net cash inflow from operating activities Categories: All Headings & Totals Cash Flows Choose an Account or Heading Accounts and Headings: Cash received from sale of long term investment Decrease in accounts payable Decrease in accounts receivable Decrease in income taxes payable Decrease in merchandise inventory Decrease in prepaid expenses Decrease in salaries payable Decrease in unearned revenues Depreciation expense Gain on sale of equipment Gain on sale of furniture Gain on sale of machinery Increase in accounts payable Increase in accounts receivable Increase in income taxes payable Increase in merchandise inventory Increase in prepaid expenses Increase in salaries payable Search: Erase Cancel Net cash outflow from financing activities Net cash outflow from investing activities Net cash outflow from operating activities Net income Net increase (decrease) in cash Net loss
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