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Exercise 23-9 Windsor Corp. uses the direct method to prepare its statement of cash flows. Windsor trial balances at December 31, 2017 and 2016, are
Exercise 23-9 Windsor Corp. uses the direct method to prepare its statement of cash flows. Windsor trial balances at December 31, 2017 and 2016, are as follows. 31 2016 $32,200 2017 Debits Cash Accounts receivable Inventory Property, plant, & equipment Unamortized bond discount Cost of goods sold Selling expenses General and administrative expenses Interest expense Income tax expense $35,300 30,300 47,000 96,000 5,000 381,500 172,900 152,300 2,600 60,700 5759,500 $980,500 32,700 30,900 100,900 4,500 252,200 142,000 136,100 4,300 20,600 Credits Allowance for doubtful accounts Accumulated depreciation-plant assets Accounts payable Income taxes payable Deferred tax liability 890 callable bonds payable Common stock Paid-in capital in excess of par Retained earnings Sales revenue $1,100 14,900 15,700 29,300 4,600 20,000 40,000 7,500 64,700 782,700 5759,500 $980,500 1,200 16,400 25,200 20,900 5,300 45,400 49,900 9,000 45,000 541,200 Additional information: 1. Windsor purchased $4,900 in equipment during 2017 2. Windsor allocated one-third of its depreciation expense to selling expenses and the remainder to general and administrative expenses. 3. Bad debt expense for 2017 was $5,000, and write-offs of uncollectible accounts totaled $4,900. Determine what amounts Windsor should report in its statement of cash flows for the year ended December 31, 2017, for the following items (a) Cash collected from customers. (b) Cash paid to suppliers. (c) Cash paid for interest. (d) Cash paid for income taxes. (e) Cash paid for selling expenses
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