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Chrome File e Edit View History Bookmarks People Tab Window Help 91OF 3475rpm " )) 95% Wed Mar 10 3:39:15 PM Monique Dinky Q . . . D D D a My Home X CengageNOW X C Solved: Of two x C Get Homework X G Google X G Google X G Google X + - > C * v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Paused ... Exam #3 Ch's 10-14 On the basis of the following data for Larson Co. for the year ending December 31 Year 2, and the preceding year ended December 31 Year 1, prepare a ? statement of cash flows. Use the indirect method of reporting cash flows from operating activities. In addition to the balance sheet data, assume that: 2. Equipment costing $125,000 was purchased for cash. Equipment costing $85,000 with accumulated depreciation of $65,000 was sold for $15,000. 3 The stock was issued for cash. The only entries in the retained earnings account were net income of $51,000 and cash dividends declared of $13,000. 5 Year 2 Year 1 Assets Cash $100,000 $78,000 Accounts receivable (net) 78,000 85,000 Inventories 101,500 90,000 8 Equipment 410,000 370,000 nd 9. ulated depreciation (150,000) 158,000) cros... (.d icros... (.d Total assets $539,500 $465,000 10. icros... (.d icros...(.d icros... (.d 11. Liabilities and Stockholders' Equity icros...(.d Accounts payable (merchandise creditors) $58,500 $55,000 icros...(.d 12. icros... (.d Cash dividends payable 5,000 4,000 OF Docum 13. Common stock, $10 par 200,000 170,000 Paid-in capital in excess of par-common stock 62,000 60,000 14. Retained earnings 214,000 176,000 15. Progress: 7/23 items Previous Next Time Remaining: 1:19:05 Submit Test for Grading ver the eases ar 10 167 NO W AL Pr PS A ld Ic Fl Ai DW .HH.Chrome File e Edit View History Bookmarks People Tab Window Help 95OF 3477rpm ) 95% [4] Wed Mar 10 3:39:26 PM Monique Dinky Q . . . D D D a My Home X CengageNOW X C Solved: Of two x C Get Homework X G Google X G Google X G Google X + - -> C a v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Paused . .. Exam #3 Ch's 10-14 Liabilities and Stockholders' Equity ? Accounts payable (merchandise creditors) $58,500 $55,000 2. Cash dividends payable 5,000 4,000 3 Common stock, $10 par 200,000 170,000 Paid-in capital in excess of par-common stock 62,000 60,000 Retained earnings 214,000 176,000 5 Total liabilities and stockholders' equity $539,500 $465,000 Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. Larson Co. Statement of Cash Flows 8 For Year Ended December 31, Year 2 Cash flows from operating activities: nd 9. cros... (.d icros... (.d Adjustments to reconcile net income to net cash flow from operating activities: icros... (.d 10. icros...(.d icros... (.d 11. icros...(.d Changes in current operating assets and liabilities: icros...(.d 12. icros... (.d OF Docum 13. 14. Net cash flow from operating activities $ 15. Previous Next Progress: 7/23 items Time Remaining: 1:18:54 Submit Test for Grading ver the eases ar 10 ITEX NOW AL Pr PS A ld Ic Fl Ai DWChrome File e Edit View History Bookmarks People Tab Window Help 95OF 3477rpm " )) 95% [4] Wed Mar 10 3:39:28 PM Monique Dinky Q . . . D D D a My Home X CengageNOW X C Solved: Of two x C Get Homework X G Google X G Google X G Google X + - > C * v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Paused . .. Exam #3 Ch's 10-14 Cash flows from operating activities: ? Adjustments to reconcile net income to net cash flow from operating activities: 2. 3 Changes in current operating assets and liabilities: 5 Net cash flow from operating activities Cash flows from investing activities: 8 nd Net cash flow used for investing activities 100 100 9. cros... (.d Cash flows from financing activities: icros... (.d 10. icros... (.d icros...(.d icros... (.d 11. Net cash flow provided by financing activities: icros...(.d icros...(.d 12. icros... (.d Cash at the beginning of the year OF Docum 13. Cash at the end of the year 14. 15. Progress: 7/23 items Previous Next Time Remaining: 1:18:51 Submit Test for Grading ver the eases ar 10 18 TX NOW AL Pr PS Ald Ic Fl Ai DW
