ble for Bot Com P21-7 LO 21.4 is the primary re. . Spreadsheet and Statement of Cash Flows The following information is available Account Balances December 31, December 31, 2018 2019 2,500 23,500 Debits $ 1,800 $ 2,000 Cash 4,600 4,720 Accounts Receivable 1,000 Notes Receivable (short-term 12,000 9,700 Inventories 1,700 1,380 Prepaid Items 11,000 17.100 Land 78,000 110,000 Buildings and Equipment 4,400 4,000 Patent 2,500 1,000 Treasury Stock (common, at cost, $25 per share) Totals $116,000 $150,900 Credits Accumulated Depreciation $ 24,000 $ 31,800 Accounts Payable 6,000 8,210 Salaries Payable 2,600 3,500 Miscellaneous Current Payables 1,400 1,200 Interest Payable 140 12% Bonds Payable 7,000 Premium on Bonds Payable 650 Convertible Preferred Stock, $50 par 9,000 6,500 Additional Paid-in Capital on Preferred Stock 3,000 Common Stock, $10 par 18,000 Additional Paidin Capital on Common Stock 28,800 41,150 Retained Earnings 23,200 24,750 Totals $116,000 $ 150,900 Additional information for the year: a. Beginning retained earnings, unadjusted Loss: Prior period adjustment-correction of understatement of depreciation $23,200 (net of income taxes) Adjusted beginning retained earnings 11,300 Add: Net income $21,900 11,500 Less: Cash dividends $33,400 Stock dividends (150 shares at $31 per share) $14,000) Ending retained earnings 4,650) 18,650 $24.750 b. Last year, depreciation expense was inadvertently understated in the amount of $1,000. made this year to Accumulated Depreciation and to Retained Earnings as a prior periodu amount of $1,800. The correction pany also received a related income tax refund of $500. c. Sixty shares of treasury stock (common) were reissued at $30 per share Prior period adjustment. The Problems 21-67 Inter 2021 Fifty Land cores of prey pense totaleterest semi000 were issued d. Bonds payable with a face amount of $7,000 on April 30, 2021, and pay interest semiannuali ce amount of $7,000 were issued for $7,750 on April 30, 2019. The bonds mature mium. Interest expense totaled $460 for 2019. pray interest semiannually. The straight-line method is used to amortize the bond pre- e. Fifty shares of preferred stock (originally issued at $60 per Land costing $2,900 was sold for $3,800. TOCK (Originally issued at $60 per share) were converted into 100 shares of common stock g. Three hundred shares of common stock were sold for $33 per share. h. Equipment costing $32,000 was purchased during the year. i. Land was acquired at a cost of $9.000 during the year. j. Depreciation expense was $6,000. k. Patent amortization was $400. 1. The company loaned money to one of its executives and received as December 31, 2019. The note matures 90 days from the date of issuance. Required: 1. Prepare a spreadsheet to support a statement of cash flows for 2. Prepare Bott Company's 2019 statement of cash flows. Show mpany's 2019 statement of cash flows. Show the reconciliation of the net income to the net cash provided by operating acti cd by operating activities in a separate schedule accompanying the statement. 10 Sandal y to one of its executives and received a $1.000 short-term note receivable on ble for Bot Com P21-7 LO 21.4 is the primary re. . Spreadsheet and Statement of Cash Flows The following information is available Account Balances December 31, December 31, 2018 2019 2,500 23,500 Debits $ 1,800 $ 2,000 Cash 4,600 4,720 Accounts Receivable 1,000 Notes Receivable (short-term 12,000 9,700 Inventories 1,700 1,380 Prepaid Items 11,000 17.100 Land 78,000 110,000 Buildings and Equipment 4,400 4,000 Patent 2,500 1,000 Treasury Stock (common, at cost, $25 per share) Totals $116,000 $150,900 Credits Accumulated Depreciation $ 24,000 $ 31,800 Accounts Payable 6,000 8,210 Salaries Payable 2,600 3,500 Miscellaneous Current Payables 1,400 1,200 Interest Payable 140 12% Bonds Payable 7,000 Premium on Bonds Payable 650 Convertible Preferred Stock, $50 par 9,000 6,500 Additional Paid-in Capital on Preferred Stock 3,000 Common Stock, $10 par 18,000 Additional Paidin Capital on Common Stock 28,800 41,150 Retained Earnings 23,200 24,750 Totals $116,000 $ 150,900 Additional information for the year: a. Beginning retained earnings, unadjusted Loss: Prior period adjustment-correction of understatement of depreciation $23,200 (net of income taxes) Adjusted beginning retained earnings 11,300 Add: Net income $21,900 11,500 Less: Cash dividends $33,400 Stock dividends (150 shares at $31 per share) $14,000) Ending retained earnings 4,650) 18,650 $24.750 b. Last year, depreciation expense was inadvertently understated in the amount of $1,000. made this year to Accumulated Depreciation and to Retained Earnings as a prior periodu amount of $1,800. The correction pany also received a related income tax refund of $500. c. Sixty shares of treasury stock (common) were reissued at $30 per share Prior period adjustment. The Problems 21-67 Inter 2021 Fifty Land cores of prey pense totaleterest semi000 were issued d. Bonds payable with a face amount of $7,000 on April 30, 2021, and pay interest semiannuali ce amount of $7,000 were issued for $7,750 on April 30, 2019. The bonds mature mium. Interest expense totaled $460 for 2019. pray interest semiannually. The straight-line method is used to amortize the bond pre- e. Fifty shares of preferred stock (originally issued at $60 per Land costing $2,900 was sold for $3,800. TOCK (Originally issued at $60 per share) were converted into 100 shares of common stock g. Three hundred shares of common stock were sold for $33 per share. h. Equipment costing $32,000 was purchased during the year. i. Land was acquired at a cost of $9.000 during the year. j. Depreciation expense was $6,000. k. Patent amortization was $400. 1. The company loaned money to one of its executives and received as December 31, 2019. The note matures 90 days from the date of issuance. Required: 1. Prepare a spreadsheet to support a statement of cash flows for 2. Prepare Bott Company's 2019 statement of cash flows. Show mpany's 2019 statement of cash flows. Show the reconciliation of the net income to the net cash provided by operating acti cd by operating activities in a separate schedule accompanying the statement. 10 Sandal y to one of its executives and received a $1.000 short-term note receivable on