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I hope have what you're looking for, thanks Condensed comparative balance sheets for Larson Co. at December 31 , Years 1 and 2 , appear
I hope have what you're looking for, thanks
Condensed comparative balance sheets for Larson Co. at December 31 , Years 1 and 2 , appear as 000. - The stock was issued for cash. - The only entries in the retained earnings account were net income of $51,000 and cash dividend repare a statement of cash flows for the year ended December 31 , Year 2 , using the indirect method. Use the minus sign to indicate cash out flows, cash anyments, decreases in cash, or any negative adjustments. Condensed comparative balance sheets for Larson Co. at December 31 , Years 1 and 2 , appear as follows: \begin{tabular}{lrr} & Year 2 & Year 1 \\ \hline Cash & $100,000 & $78,000 \\ Accounts receivable (net) & 78,000 & 85,000 \\ Inventories & 101,500 & 90,000 \\ Equipment & 410,000 & 370,000 \\ Accumulated depreciation & (150,000) & (158,000) \\ \hline Total assets & $539,500 & $465,000 \\ \hline \end{tabular} Accounts payable (merchandise creditors) Cash dividends payable Common stock, \$10 par Paid-in capital in excess of par Retained earnings Total liabilities and stockholders' equity \begin{tabular}{rr} $58,500 & $55,000 \\ 5,000 & 4,000 \\ 200,000 & 170,000 \\ 62,000 & 60,000 \\ 214,000 & 176,000 \\ \hline$539,500 & $465,000 \\ \hline \end{tabular} In adition to the balance shert dota, assuirne that; - Equinenent costang 5125,000 was purchased for cauh. - Equipinent costing sa5,000 with accumulated depreciaton of s65,000 was sobd for 315,000 - The stork wiss issund for cashi. - The ondy anieries of the retaned eacnings acoount were net incore of 151,000 avil cmat dividends deciarnd of 113,000 . adgustrnents. adjustments. Larson Co. Statement of Cash Flows For Year Ended December 31, Year 2 Cash flows from (used for) operating activities: Adjustments to reconcile net income to net cash flows from (used for) operating activities: Changes in current operating assets and liabilities: Cash flows from (used for) investing activities: Cash flows from (used for) financing activities: Cash balance, January 1, Year 2 Cash balance, December 31 , Year 2 Step by Step Solution
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