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Charlotte Company's net income last year was $99,000. Changes in the company's balance sheet accounts for the year appear below Increases (Decreases) Asset and Contra-Asset

Charlotte Company's net income last year was $99,000. Changes in the company's balance sheet accounts for the year appear below

Increases (Decreases)
Asset and Contra-Asset Accounts:
Cash $ 46,800
Accounts receivable $ 37,000
Inventory $ (44,000)
Prepaid expenses $ 11,200
Long-term investments $ 55,000
Property, plant and equipment $ 85,000
Accumulated depreciation $ 61,000
Liability and Equity Accounts:
Accounts payable $ (44,000)
Accrued liabilities $ 34,000
Income taxes payable $ 64,000
Bonds payable $ (75,000)
Common stock $ 45,000
Retained earnings $ 78,000

The company did not dispose of any property, plant, and equipment, sell any long-term investments, issue any bonds payable, or repurchase any of its own common stock during the year. The company declared and paid a cash dividend $21,000.

Required:

a.

Prepare the operating activities section of the company's statement of cash flows for the year. (Use the indirect method.) (Amounts to be deducted should be indicated with a minus sign. Omit the "$" sign in your response.)

Statement of Cash Flows
Operating activities:
(Click to select)Net lossNet income $
Adjustments to convert net income to cash basis:
(Click to select)Increase in accounts payableIncrease in prepaid expensesIncrease in accrued liabilitiesDecrease in accounts receivableDecrease in inventoryDepreciationIncrease in prepaid expensesIncrease in income taxes payableDecrease in accounts payableDecrease in accrued liabilitiesIncrease in accounts receivableDecrease in inventoryDecrease in income taxes payable $
(Click to select)Decrease in inventoryIncrease in accrued liabilitiesDecrease in accounts receivableDecrease in income taxes payableIncrease in prepaid expensesIncrease in income taxes payableIncrease in accounts payableIncrease in accounts receivableIncrease in prepaid expensesDecrease in accounts payableDepreciationDecrease in inventoryDecrease in accrued liabilities
(Click to select)Decrease in inventoryIncrease in prepaid expensesIncrease in accounts payableDecrease in accounts receivableDecrease in income taxes payableIncrease in income taxes payableDecrease in accounts payableDepreciationDecrease in accrued liabilitiesIncrease in accounts receivableIncrease in accrued liabilitiesIncrease in prepaid expensesDecrease in inventory
(Click to select)DepreciationDecrease in income taxes payableDecrease in inventoryIncrease in income taxes payableDecrease in inventoryIncrease in accounts payableDecrease in accounts receivableDecrease in accrued liabilitiesIncrease in prepaid expensesIncrease in accrued liabilitiesIncrease in accounts receivableDecrease in accounts payableIncrease in prepaid expenses
(Click to select)Decrease in accounts payableIncrease in prepaid expensesDepreciationDecrease in income taxes payableDecrease in accounts receivableDecrease in accrued liabilitiesIncrease in accounts receivableIncrease in accrued liabilitiesDecrease in inventoryIncrease in income taxes payableIncrease in prepaid expensesDecrease in inventoryIncrease in accounts payable
(Click to select)Decrease in inventoryDecrease in income taxes payableDepreciationDecrease in accounts receivableIncrease in accounts receivableIncrease in accounts payableDecrease in inventoryIncrease in accrued liabilitiesIncrease in income taxes payableDecrease in accounts payableDecrease in accrued liabilitiesIncrease in prepaid expensesIncrease in prepaid expenses
(Click to select)Increase in prepaid expensesDecrease in inventoryIncrease in accounts receivableDecrease in income taxes payableIncrease in accrued liabilitiesDecrease in inventoryIncrease in prepaid expensesDecrease in accounts payableIncrease in accounts payableDepreciationDecrease in accounts receivableIncrease in income taxes payableDecrease in accrued liabilities
Net cash (Click to select)used forprovided by operating activities $

b.

Prepare the investing activities section of the company's statement of cash flows for the year. (Amounts to be deducted should be indicated with a minus sign. Omit the "$" sign in your response.)

Statement of Cash Flows
Investing activities:
(Click to select)Increase in inventoryPurchase of property, plant and equipmentPurchase of long-term investmentsIncrease in accounts receivableIncrease in accounts payable $
(Click to select)Purchase of long-term investmentsIncrease in accounts receivableIncrease in inventoryPurchase of property, plant and equipmentIncrease in accounts payable
Net cash (Click to select)used forprovided by investing activities $

c.

Prepare the financing activities section of the company's statement of cash flows for the year. (Amounts to be deducted should be indicated with a minus sign. Omit the "$" sign in your response.)

Statement of Cash Flows
Financing activities:
(Click to select)Increase in inventoryIncrease in accounts receivableIncrease in accounts payableIssuance of common stockRepaying principal on bonds payablePaying a dividendIncrease in common stock $
(Click to select)Increase in inventoryIncrease in accounts receivableIssuance of common stockIncrease in common stockPaying a dividendIncrease in accounts payableRepaying principal on bonds payable
(Click to select)Increase in accounts payableIncrease in accounts receivablePaying a dividendIncrease in common stockIncrease in inventoryIssuance of common stockRepaying principal on bonds payable
Net cash (Click to select)used forprovided by financing activities

$

I am unsure if I was working this correctly. Please help! THank you.

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