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Chrome File Edit View History Bookmarks People b Window Help 109 F 3475rpm " ) 100% 47 Wed Mar 10 4:05:27 PM Monique Dinky Q DE a My Home X CengageNO! X C One Of The | X C QUESTION 1 X C When A Stoc X C On June 8, V X C The Charter X Course Hero X + F - 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: 8 Equipment costing $125,000 was purchased for cash. Equipment costing $85,000 with accumulated depreciation of $65,000 was sold for $15,000. The stock was issued for cash. 10 The only entries in the retained earnings account were net income of $51,000 and cash dividends declared of $13,000. 11. Year 2 Year 1 12. Assets Cash $100,000 $78,000 13. Accounts receivable (net) 78,000 85,000 14. Inventories 101,500 90,000 Equipment 410,00 370,000 15 Accumulated depreciation (150,000) (158,000) 16. Total assets $539,500 $465,000 17. Liabilities and Stockholders' Equity 18. Accounts payable (merchandise creditors) $58,500 $55,000 Cash dividends payable 5,000 4,000 19 Common stock, $10 par 200,000 170,000 20. Paid-in capital in excess of par-common stock 62,000 60,000 21. Progress: 7/23 items Previous Next Time Remaining: 0:52:53 All work saved. Submit Test for Grading amount and percentage of comparative financial ctatoment itome? 10 X O W Lr Pr Ps Ald Ic Fl Ai DWChrome File Edit View History Bookmarks People b Window Help 109 F 3481rpm " ) 100% 47 Wed Mar 10 4:05:32 PM Monique Dinky Q DE a My Home X CengageNO! X C One Of The | X C QUESTION 1 X C When A Stoc X C On June 8, V X C The Charter X Course Hero X + F - C v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Paused Exam #3 Ch's 10-14 Paid-in capital in excess of par-common stock 62,000 60,000 Retained earnings 214,000 176,000 8 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. 10 Larson Co. Statement of Cash Flows 11. For Year Ended December 31, Year 2 12. Cash flows from operating activities: 10 13. Adjustments to reconcile net income to net cash flow from operating activities: 14. 15 Changes in current operating assets and liabilities: 16. 17. Net cash flow from operating activities 18. Cash flows from investing activities: 19 20. Net cash flow used for investina activities 21. Progress: 7/23 items Previous Next Time Remaining: 0:52:48 All work saved. Submit Test for Grading amount and percentage of comparative financial ctatoment itome? 10 X N O W Lr Pr Ps Ald Ic Fl Ai DWChrome File Edit View History Bookmarks People b Window Help 109 F 3479rpm " ) 100% 47 Wed Mar 10 4:05:38 PM Monique Dinky Q DE a My Home X CengageNO\\ X C One Of The | X C QUESTION 1 X C When A Stoc X C On June 8, V X C The Charter X Course Hero X + F - C v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Paused Exam #3 Ch's 10-14 Larson Co. Statement of Cash Flows 8 For Year Ended December 31, Year 2 Cash flows from operating activities: 0 10 Adjustments to reconcile net income to net cash flow from operating activities: 11. Changes in current operating assets and liabilities: 12. 13. 14. Net cash flow from operating activities 15 Cash flows from investing activities: 100 100 1000 16. 17. Net cash flow used for investing activities Cash flows from financing activities: 18. 19 Net cash flow provided by financing activities: 20. 21. Progress: 7/23 items Previous Next Time Remaining: 0:52:42 All work saved. Submit Test for Grading amount and percentage of comparative financial ctatoment itome? 10 X N O W Lr Pr Ps Ald Ic Fl Ai DWChrome File Edit View History Bookmarks People b Window Help 109 F 3479rpm " ) 100% 47 Wed Mar 10 4:05:40 PM Monique Dinky Q DE a My Home X CengageNOl X C One Of The | X C QUESTION 1 X C When A Stoc X C On June 8, V X C The Charter X Course Hero X + F - C v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Paused Exam #3 Ch's 10-14 $ Adjustments to reconcile net income to net cash flow from operating activities: 8 Changes in current operating assets and liabilities: 10 11. 12. Net cash flow from operating activities $ Cash flows from investing activities: 100 100 1000 13. 14. Net cash flow used for investing activities 15 Cash flows from financing activities: 16. 17. Net cash flow provided by financing activities: 18. 10000 Cash at the beginning of the year 19 Cash at the end of the y 20. 21. Next Progress: 7/23 items Previous Time Remaining: 0:52:40 All work saved. Submit Test for Grading amount and percentage of comparative financial ctatoment itome? 10 K P 6 7 X NOW Lr Pr Ps Ald Ic Fl Ai DW