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Following are selected balance sheet accounts of Allman Bros. Corp. at December 31, 2014 and 2013, and the increases or decreases in each account from
Following are selected balance sheet accounts of Allman Bros. Corp. at December 31, 2014 and 2013, and the increases or decreases in each account from 2013 to 2014. Also presented is selected income statement information for the year ended December 31, 2014, and additional information.
Selected balance sheet accounts
2014
2013
Increase (Decrease)
Assets
Accounts receivable
$ 34,000
$ 24,000
$ 10,000
Property, plant, and equipment
277,000
247,000
30,000
Accumulated depreciationplant assets
(178,000)
(167,000)
(11,000)
Liabilities and stockholders equity
Bonds payable
$ 49,000
$ 46,000
$ 3,000
Dividends payable
8,000
5,000
3,000
Common stock, $1 par
22,000
19,000
3,000
Additional paid-in capital
9,000
3,000
6,000
Retained earnings
104,000
91,000
13,000
Selected income statement information for the year ended December 31, 2014
Sales revenue
$ 155,000
Depreciation
33,000
Gain on sale of equipment
14,500
Net income
31,000
Additional information:
1. During 2014, equipment costing $45,000 was sold for cash.
2. Accounts receivable relate to sales of merchandise.
3. During 2014, $20,000 of bonds payable were issued in exchange for property, plant, and equipment.
4. There was no amortization of bond discount or premium.
Instructions
What amount should be reported in the statement of cash flows for the following items. When entering the answers, make sure you use the format: xxx,xxx as needed. Do not use dollar signs.
(a) Cash collected from customers. Answer 1
(b) Payments for purchase of property, plant, and equipment. Answer 2
(c) Proceeds from the sale of equipment. Answer 3
(d) Cash dividends paid. Answer 4
(e) Redemption of bonds payable. Answer 5
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