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6 U- ESE - $ - % Clipboard Font Alignment Nur HT NXPowerlite C Managerial Accounting SVSU Winter 2020 5 Quiz-- (20 Points) 6 7 The following data is provided for AZ Company 8 Debits 2021 2020 Change 9 Cash $ 19,000 $ 9,000 10,000 10 Accounts receivable 36,000 22,000 14,000 11 Inventory 24,000 35,000 (11,000) 12 Equipment 170,000 90,000 80,000 13 Land 136,000 105,000 31,000 14 Treasury Stock 15,000 9,000 6,000 15 $ 400,000 $270,000 16 17 Credits 18 Accumulated depreciation $ 45,000 $ 29,000 16,000 19 Accounts payable 23,000 19,000 4,000 20 Taxes payable 8,000 15,000 (7,000) 21 Bonds payable 115,000 70.000 45.000 22 Common Stock, $10 par 80,000 60.000 20.000 23 Paid-in-capital 30,000 17.000 13,000 24 Retained earnings 99,000 60.000 39,000 25 $ 400,000 $270,000 26 07 Other data for the vear: Clipboard Font BC NXPowerlite Alignment $ 400,000 $270,000 27 Other data for the year. 28 1. Net income amounted to $55,000 for 2021. 29 2. Equipment costing $100,000 was purchased. 30 3. Dividends declared and paid amounted to $16,000 31 4. Equipment costing $20,000 was sold for $4,000 when the equipments' book value was $7,000. 33 5. Other changes in the non-cash accounts resulted from the 34 usual transactions recored in those accounts. 35 32 37 REQUIRED: 38 a) Complete the cash flow worksheet (Use the T-Accounts provided) 39 Note: Include all labels for each entry. 40 HINT: You must compute the depreciation expense after recording the gain or loss on the sartof equipment. 43 b) Prepare the formal Statement of Cash Flows for the year ending 2016. Note: The Statement of Cash Flows must be prepared formally. kole quizSCF T-accounts Stmt of Cash Flow Home insert Draw Page Layout Formulas Data Review View Help Acrobat PDF Arial 10 AA Optimize Paste LIS a-A- BI - F B FOX- ET El NX NXPowerlite Alignment F G General $ - % - Font C - Clipboard A , 8-98 Number quizScF T-accounts Stmt of Cash Flow + Type here to search 6 U- ESE - $ - % Clipboard Font Alignment Nur HT NXPowerlite C Managerial Accounting SVSU Winter 2020 5 Quiz-- (20 Points) 6 7 The following data is provided for AZ Company 8 Debits 2021 2020 Change 9 Cash $ 19,000 $ 9,000 10,000 10 Accounts receivable 36,000 22,000 14,000 11 Inventory 24,000 35,000 (11,000) 12 Equipment 170,000 90,000 80,000 13 Land 136,000 105,000 31,000 14 Treasury Stock 15,000 9,000 6,000 15 $ 400,000 $270,000 16 17 Credits 18 Accumulated depreciation $ 45,000 $ 29,000 16,000 19 Accounts payable 23,000 19,000 4,000 20 Taxes payable 8,000 15,000 (7,000) 21 Bonds payable 115,000 70.000 45.000 22 Common Stock, $10 par 80,000 60.000 20.000 23 Paid-in-capital 30,000 17.000 13,000 24 Retained earnings 99,000 60.000 39,000 25 $ 400,000 $270,000 26 07 Other data for the vear: Clipboard Font BC NXPowerlite Alignment $ 400,000 $270,000 27 Other data for the year. 28 1. Net income amounted to $55,000 for 2021. 29 2. Equipment costing $100,000 was purchased. 30 3. Dividends declared and paid amounted to $16,000 31 4. Equipment costing $20,000 was sold for $4,000 when the equipments' book value was $7,000. 33 5. Other changes in the non-cash accounts resulted from the 34 usual transactions recored in those accounts. 35 32 37 REQUIRED: 38 a) Complete the cash flow worksheet (Use the T-Accounts provided) 39 Note: Include all labels for each entry. 40 HINT: You must compute the depreciation expense after recording the gain or loss on the sartof equipment. 43 b) Prepare the formal Statement of Cash Flows for the year ending 2016. Note: The Statement of Cash Flows must be prepared formally. kole quizSCF T-accounts Stmt of Cash Flow Home insert Draw Page Layout Formulas Data Review View Help Acrobat PDF Arial 10 AA Optimize Paste LIS a-A- BI - F B FOX- ET El NX NXPowerlite Alignment F G General $ - % - Font C - Clipboard A , 8-98 Number quizScF T-accounts Stmt of Cash Flow + Type here to search