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A. Prepare the statement of Cash flows for Johnson Inc for the year ended December 31, Year 3 using a direct method using the selection
A. Prepare the statement of Cash flows for Johnson Inc for the year ended December 31, Year 3 using a direct method using the selection bank below Accounting accounts selections: Interest Inventory purchased Operating expenses Paid to purchase equipment Paid to purchase marketable securities Payment of dividends Payments from bonds issue Proceeds from common stock Issue Proceeds from preferred stock issue Proceeds from sale of equipment Proceeds from sale of land Proceeds from sale of marketable securities Proceeds from sale of treasury stock Repayment of bonds Repayment of loan Sales Balance Sheeta As of December 31 Year 3 Year 2 $ 160,200 103, 200 106,400 284,000 650,000 (310,000) 80,000 1,153,800 $ 120,600 85,000 171, 800 220,000 490,000 (240,000) 120,000 967, 400 s Assets Cash Accounts receivable Inventory Marketable securities (available for sale) Equipment Accumulated depreciation Land Total assets Liabilities and equity Thabilities Accounts payable (inventory) Notes payable-Long-term Bonds payable Total liabilities Stockholders' equity Common stock, no par Preferred stock, $50 par Paid-in capital in excess ot par-Preferred stock Total paid-In capital Retained earnings Less: Treasury stock Total stockholders' equity Total liabilities and stockholders' equity 36,400 230,000 200.000 466,400 $ 66,200 250,000 200,000 416,200 240,000 110,000 34,400 384,400 333,000 30,000) 687,400 $1,153,800 200,000 100,000 26, 800 326, 800 264,400 140,000) 551,200 $ 967400 $1,050,000 (1766,500 283.500 Indone Statement For the Year Ended December 31, Year 3 Sales revenue Cost Of goods sold Gross ProFLE Operating expenses Supplies expense $20.400 Salaries expense 92,000 Depreciation expense 90,000 total operating expenses Operating Income Nonoperating items Interest expense Gain from the sale of marketable mecurities Gain from the sale of land and equipment Ret Income (202,400) 81,100 (16,000) 30,000 12,000 107, 100 $ Additional Information 1. Sold land that cost $40,000 for $44,000. 2. Sold equipment that cost $30.000 and had accumulated depreciation of $20,000 for $18,000. 3. Purchased now equipment for $190.000 4. Sold marketable securities that were classified as available for sale and that cost $40,000 for $70,000. 5. Purchased new marketable securities classified as available for sale, for $104,000. $1,050,000 (266,500) 283,500 Income Statement For the Year Ended December 31 Year 3 Sales revenue Cost of goods sold Gross profit Operating expenses Supplies expense $ 20,400 Salaries expense 92,000 Depreciation expense 90.000 Total operating expenses Operating income Nonoperating items Interest expense Gain from the sale of marketable Securities Gain from the sale of land and equipment Net Income 202,400) 81,100 (16,000) 30.000 12,000 $ 107,100 Additional Information 1. Sold land that cost $40,000 for $44,000. 2. Sold equipment that cost $30,000 and had accumulated depreciation of $20,000 for $18,000. 3. Purchased new equipment for $190,000 4. Sold marketable securities that were classified as available for sale and that cost $40,000 for $70,000. 5. Purchased new marketable securities, classified as available for sale, for $104,000. 6. Paid $20,000 on the principal of the long term note. 7. Paid off a $100,000 bond issue and issued new bonds for $200,000 8. Sold 100 shares of treasury stock at its cost. 9. Issued some new common stock. 10. Issued some new $50 par preferred stock 11. Pald dividends. (Note: The only transactions to affect retained earnings were net income and dividends.) For the Year Ended December 31. Yo Cash flows from operating activities: Cash Receipts from: Total cash inflows Cash payments for: O Total cash outflows 0 Cash flows from investing activities: 0 Cash flows from financing activities: 0 5 D Ending cash balance
A. Prepare the statement of Cash flows for Johnson Inc for the year ended December 31, Year 3 using a direct method using the selection bank below
Accounting accounts selections:
Interest
Inventory purchased
Operating expenses
Paid to purchase equipment
Paid to purchase marketable securities
Payment of dividends
Payments from bonds issue
Proceeds from common stock Issue
Proceeds from preferred stock issue
Proceeds from sale of equipment
Proceeds from sale of land
Proceeds from sale of marketable securities
Proceeds from sale of treasury stock
Repayment of bonds
Repayment of loan
Sales
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