Calibri 11 An = Wrap Text General W 2. Auto Paste % Cut Copy * Format Painter Clipboard BIU. E- Merge & Center 90 Conditional Format as Cell Formatting Table Styles Insert Delete Format Clear Font Alignment Number P16 6 Problem 16-1B 7 This problem focuses on preparing the cash flow from operation section of the statement of cash flows. 8 Remember, you start with net income and then make the following adjustments: 9 Addback non-cash expenses 10 Adjust for gains and losses 11 Adjust for changes in current assets and current liabiltiies. 12 The adjustments are backwards. An increase in asset is subtracted and a decrease is added. An increase in liabily is added and a decrease is subtracted. 14 Problem 16-4B 15. This is a cash flow Spreadsheet. For this one, I have the beginning balances in the spreadsheet. I also have 16 the descriptions for the bottom part of the spreadsheet provided. 17. Remember, when doing this, debits always have to equal credits. When doing the adjustments, do them 18 lone adjustment at a time, making sure that the debits equal the credits. 20 Problem 16-7B 21 This is another cash flow spreadsheet. For this one, I provided the beginning balance but not the 22descriptions. Twould recommend using problem 48 as a guide as you work on 23 this one. 26 Instructions Pr 16-18 Pr 16-4 READY o e 02 XE e. Income MULTILIONI 10ulein 16-64 column totals, $481,000 Refer to Golden Corporation's financial statements and related INTUITII Problem 16-8AB Direct: Statement of cash flows P5 Check Cash used in financing activities. $(29,000) Required Prepare a complete statement of cash flows using the direct method for the curren e sheet data at December 21 PROBLEM SET B Salt Lake Company's current-year income statement and selected balance sheet the current and prior years follow. Problem 16-1B Indirect: Computing cash flows from operations SALT LAKE COMPANY Income Statement For Current Year Ended December 31 P2 $156,000 SALT LAKE COMPANY Selected Balance Sheet Accounts Sales revenue.. Expenses Cost of goods sold ... Depreciation expense.... Salaries expense...... Rent expense Insurance expense........ Interest expense....... Utilities expense....... 72,000 32,000 20,000 5,000 2,600 2,400 2,000 $ 20,000 At December 31 Accounts receivable... Inventory...... Accounts payable Salaries payable ......... Utilities payable .. Prepaid insurance. Prepaid rent ..... Current Year Prior Year $3,600 $3.000 860 2,400 900 140 100 180 200 Net income.......... Check Cash from operating activities. $51,960 Required Prepare the operating activities section of the statement of cash flows using the inaire current year. sing the indirect method for the Refer to the information in Problem 16-1B. Problem 16-2BB Direct: Computing cash flows from operations Required Muir statement of cash flows using the indirect method for the current vear. Disclose investing and financing activities in a note menare a complete statem check cash any noncash inves activities, $130,200 uss the statement of cash flows prepared in part 1, giving special attention to the lys Component 2. Analyze and discuss wisdom of the cast of the cash dividend payment. ation reported about Gazelle Corporation in Problem 16-3B. Refer to the information ren Problem 16-4BA Indirect: Cash flows spreadsheet PA Required Prepare a complete statem Method. Identify the debit the following list of tran lote statement of cash flows using a spreadsheet as in Exhibit 16A.1 using the indirect the debits and credits in the Analysis of Changes columns with letters that correspond to ring list of transactions and events. the Net income was $158,100. b Accounts receivable decreased. Inventory decreased. d. Prepaid expenses decreased. e Accounts payable decreased. Depreciation expense was $38,600. Sold equipment costing $51,000, with accumulated depreciation of $22,850, for $26,050 cash. This yielded a loss of $2,100. h. Purchased equipment costing $113,250 by paying $43,250 cash and (i.) by signing a long-term note payable for the balance. Borrowed $5,000 cash by signing a short-term note payable. k. Paid $47,500 cash to reduce the long-term notes payable. Issued 3,000 shares of common stock for $15 cash per share. m. Declared and paid cash dividends of $53,600. Check Analysis of Changes column totals, $681.950 Equity share. Declared and paid $60,000 of cash dividen Common stock, $5 par value.... Paid-in capital in excess of par, common stock....... Retained earnings ..... . Total liabilities and equity..... 68,000 175,217 $305,689 20,000 32,450 $241,080 method for the current year. Check Cash from operating activities, $57,600 Required Prepare a complete statement of cash flows using the indirect method for the cu Refer to the information reported about Satu Company in Problem 16-6B. Problem 16-7B Indirect: Cash flows spreadsheet chibit 16A.1 under the indirect 24 Required Prepare a complete statement of cash flows using a spreadsheet as in Exhibit 16A.1 under method. Identify the debits and credits in the Analysis of Changes columns with letters that cor the following list of transactions and events. a. Net income was $202,767. f. Depreciation expense was $15,700. b. Accounts receivable decreased. g. Purchased equipment for $30,250 cash. c. Inventory increased. h. Issued 3,000 shares at $21 cash per share. d. Accounts payable decreased. i. Declared and paid $60,000 of cash dividends. e. Income taxes payable decreased. Check Analysis of Changes blumn totals, $543.860 Refer to Satu Company's financial statements and related information in Problem 16-6B. roblem 16-8B irect: Statement of esh flows P5 heck Cash provided by nancing activities, $3,000 Required Prepare a complete statement of cash flows using the direct method for the current year. Refer to Gazelle Corporation's This serial pro ments were no Prepare a complete statement of cash flows using the direct method. Disc Problem 16-5B Direct: Statement of cash flows P5 Check Cash used in financing activities, $(51,100 Required Disclose any noncash in financing activities in a note SP 16 Santa business. (AI prepare the s paratiredits ce sheets, and additional Problem 16-6B rect: Statement of Tows Satu Company's current-year income statement, comparative balance shee follow. For the year. (1) all sales are credit sales, (2) all credits to Acco receipts from customers, (3) all purchase (3) all purchases of inventory are on credit, (4) all dehi reflect cash payments for inventory. (5) Other Expenses are cash expenses an Taxes Payable reflects the accrual and cash payment of taxes. counts Receivable tell debits to Acco . (A) all de chave es, and (6) any change in SATU COMPAN Comparative Bote See SATU COMPANY Income Statement For Current Year Ended December 31 Assets Cash Account Inverte Comet Prepair Prepe Current Year Prior Year 55 $ 58,750 20,222 78,972 165,667 107.750 (46,700) $305,689 $ 28,400 25,860 54,260 140,320 77,500 (31,000) $241,080 Sales ......... Cost of goods sold ... Gross profit........... Operating expenses Depreciation expense..... Other expenses .......... Income before taxes......... Income taxes expense..... Net income........ $ 15,700 173.933 Total Office ACCU eg Comp Accup Total A: December 31 Assets Cash. Accounts receivable Total current assets. Inventory ...... Equipment Accum, depreciation--Equipment ... Total assets ....... Liabilities and Equity Accounts payable Income taxes payable. Total current liabilities. Equity Common stock, $5 par value. Paid-in capital in excess of par, common stock... Retained earnings........... Total liabilities and equity.......... $ 20,372 2.100 22,472 $157,530 6,100 163,630 Liat ACC Wa Un 40,000 25,000 68,000 175,217 $305,689 20,000 32,450 $241,080 Additional Information on Current-Year Transactions a. Purchased equipment for $30,250 cash. b. Issued 3,000 shares of common stock for $21 cash per share. c. Declared and paid $60,000 of cash dividends. Rec Pre Check Cash from operating activities, $57,600 Required Prepare a complete statement of cash flows using the indirect method for the current year. en Problem 16-7B Indirect: Cash flows spreadsheet Refer to the information reported about Satu Company in Problem 16-6B. Calibri 11 An = Wrap Text General W 2. Auto Paste % Cut Copy * Format Painter Clipboard BIU. E- Merge & Center 90 Conditional Format as Cell Formatting Table Styles Insert Delete Format Clear Font Alignment Number P16 6 Problem 16-1B 7 This problem focuses on preparing the cash flow from operation section of the statement of cash flows. 8 Remember, you start with net income and then make the following adjustments: 9 Addback non-cash expenses 10 Adjust for gains and losses 11 Adjust for changes in current assets and current liabiltiies. 12 The adjustments are backwards. An increase in asset is subtracted and a decrease is added. An increase in liabily is added and a decrease is subtracted. 14 Problem 16-4B 15. This is a cash flow Spreadsheet. For this one, I have the beginning balances in the spreadsheet. I also have 16 the descriptions for the bottom part of the spreadsheet provided. 17. Remember, when doing this, debits always have to equal credits. When doing the adjustments, do them 18 lone adjustment at a time, making sure that the debits equal the credits. 20 Problem 16-7B 21 This is another cash flow spreadsheet. For this one, I provided the beginning balance but not the 22descriptions. Twould recommend using problem 48 as a guide as you work on 23 this one. 26 Instructions Pr 16-18 Pr 16-4 READY o e 02 XE e. Income MULTILIONI 10ulein 16-64 column totals, $481,000 Refer to Golden Corporation's financial statements and related INTUITII Problem 16-8AB Direct: Statement of cash flows P5 Check Cash used in financing activities. $(29,000) Required Prepare a complete statement of cash flows using the direct method for the curren e sheet data at December 21 PROBLEM SET B Salt Lake Company's current-year income statement and selected balance sheet the current and prior years follow. Problem 16-1B Indirect: Computing cash flows from operations SALT LAKE COMPANY Income Statement For Current Year Ended December 31 P2 $156,000 SALT LAKE COMPANY Selected Balance Sheet Accounts Sales revenue.. Expenses Cost of goods sold ... Depreciation expense.... Salaries expense...... Rent expense Insurance expense........ Interest expense....... Utilities expense....... 72,000 32,000 20,000 5,000 2,600 2,400 2,000 $ 20,000 At December 31 Accounts receivable... Inventory...... Accounts payable Salaries payable ......... Utilities payable .. Prepaid insurance. Prepaid rent ..... Current Year Prior Year $3,600 $3.000 860 2,400 900 140 100 180 200 Net income.......... Check Cash from operating activities. $51,960 Required Prepare the operating activities section of the statement of cash flows using the inaire current year. sing the indirect method for the Refer to the information in Problem 16-1B. Problem 16-2BB Direct: Computing cash flows from operations Required Muir statement of cash flows using the indirect method for the current vear. Disclose investing and financing activities in a note menare a complete statem check cash any noncash inves activities, $130,200 uss the statement of cash flows prepared in part 1, giving special attention to the lys Component 2. Analyze and discuss wisdom of the cast of the cash dividend payment. ation reported about Gazelle Corporation in Problem 16-3B. Refer to the information ren Problem 16-4BA Indirect: Cash flows spreadsheet PA Required Prepare a complete statem Method. Identify the debit the following list of tran lote statement of cash flows using a spreadsheet as in Exhibit 16A.1 using the indirect the debits and credits in the Analysis of Changes columns with letters that correspond to ring list of transactions and events. the Net income was $158,100. b Accounts receivable decreased. Inventory decreased. d. Prepaid expenses decreased. e Accounts payable decreased. Depreciation expense was $38,600. Sold equipment costing $51,000, with accumulated depreciation of $22,850, for $26,050 cash. This yielded a loss of $2,100. h. Purchased equipment costing $113,250 by paying $43,250 cash and (i.) by signing a long-term note payable for the balance. Borrowed $5,000 cash by signing a short-term note payable. k. Paid $47,500 cash to reduce the long-term notes payable. Issued 3,000 shares of common stock for $15 cash per share. m. Declared and paid cash dividends of $53,600. Check Analysis of Changes column totals, $681.950 Equity share. Declared and paid $60,000 of cash dividen Common stock, $5 par value.... Paid-in capital in excess of par, common stock....... Retained earnings ..... . Total liabilities and equity..... 68,000 175,217 $305,689 20,000 32,450 $241,080 method for the current year. Check Cash from operating activities, $57,600 Required Prepare a complete statement of cash flows using the indirect method for the cu Refer to the information reported about Satu Company in Problem 16-6B. Problem 16-7B Indirect: Cash flows spreadsheet chibit 16A.1 under the indirect 24 Required Prepare a complete statement of cash flows using a spreadsheet as in Exhibit 16A.1 under method. Identify the debits and credits in the Analysis of Changes columns with letters that cor the following list of transactions and events. a. Net income was $202,767. f. Depreciation expense was $15,700. b. Accounts receivable decreased. g. Purchased equipment for $30,250 cash. c. Inventory increased. h. Issued 3,000 shares at $21 cash per share. d. Accounts payable decreased. i. Declared and paid $60,000 of cash dividends. e. Income taxes payable decreased. Check Analysis of Changes blumn totals, $543.860 Refer to Satu Company's financial statements and related information in Problem 16-6B. roblem 16-8B irect: Statement of esh flows P5 heck Cash provided by nancing activities, $3,000 Required Prepare a complete statement of cash flows using the direct method for the current year. Refer to Gazelle Corporation's This serial pro ments were no Prepare a complete statement of cash flows using the direct method. Disc Problem 16-5B Direct: Statement of cash flows P5 Check Cash used in financing activities, $(51,100 Required Disclose any noncash in financing activities in a note SP 16 Santa business. (AI prepare the s paratiredits ce sheets, and additional Problem 16-6B rect: Statement of Tows Satu Company's current-year income statement, comparative balance shee follow. For the year. (1) all sales are credit sales, (2) all credits to Acco receipts from customers, (3) all purchase (3) all purchases of inventory are on credit, (4) all dehi reflect cash payments for inventory. (5) Other Expenses are cash expenses an Taxes Payable reflects the accrual and cash payment of taxes. counts Receivable tell debits to Acco . (A) all de chave es, and (6) any change in SATU COMPAN Comparative Bote See SATU COMPANY Income Statement For Current Year Ended December 31 Assets Cash Account Inverte Comet Prepair Prepe Current Year Prior Year 55 $ 58,750 20,222 78,972 165,667 107.750 (46,700) $305,689 $ 28,400 25,860 54,260 140,320 77,500 (31,000) $241,080 Sales ......... Cost of goods sold ... Gross profit........... Operating expenses Depreciation expense..... Other expenses .......... Income before taxes......... Income taxes expense..... Net income........ $ 15,700 173.933 Total Office ACCU eg Comp Accup Total A: December 31 Assets Cash. Accounts receivable Total current assets. Inventory ...... Equipment Accum, depreciation--Equipment ... Total assets ....... Liabilities and Equity Accounts payable Income taxes payable. Total current liabilities. Equity Common stock, $5 par value. Paid-in capital in excess of par, common stock... Retained earnings........... Total liabilities and equity.......... $ 20,372 2.100 22,472 $157,530 6,100 163,630 Liat ACC Wa Un 40,000 25,000 68,000 175,217 $305,689 20,000 32,450 $241,080 Additional Information on Current-Year Transactions a. Purchased equipment for $30,250 cash. b. Issued 3,000 shares of common stock for $21 cash per share. c. Declared and paid $60,000 of cash dividends. Rec Pre Check Cash from operating activities, $57,600 Required Prepare a complete statement of cash flows using the indirect method for the current year. en Problem 16-7B Indirect: Cash flows spreadsheet Refer to the information reported about Satu Company in Problem 16-6B