I would like an anwer for e13-16. The problem is about the Deep Waters company, and I need some help creating the statement of cash flows at the end of december 31.

Chapter 13 Homework Questions E13-1 Matching Items Reported to Cash Flow Statement Categories (Indirect Method) LO1 Reebok International Ltd. is a global company that designs and markets sports and fitness products, including footwear, apparel, and accessories. Some of the items included in it consolidated statement of cash flows presented using the indirect method are listed here. Indicate whether each item is disclosed in the Operating Activities (O), Investing Activities (I), or Financing Activities (F) section of the statement or (NA) if the item does not appear on the statement. (Note: This is the exact wording used on the actual statement.) 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. Dividends paid. Repayments of long-term debt. Depreciation and amortization. Proceeds from issuance of common stock to employees. [Change in] Accounts payable and accrued expenses. Cash collections from customers. Net repayments of notes payable to banks. Net income. Payments to acquire property and equipment. [Change in] Inventory. E13-6 Reporting Cash Flows from Operating Activities (Indirect Method) LO2 The following information pertains to Satellite Company: Income Statement for 2012 Sales Expenses Cost of goods sold $ $ Depreciation expense Salaries expense 51,775 8,400 11,400 Net income Accounts receivable Inventory Salaries payable 71,575 $ Partial Balance Sheet 2012 $ 86,600 10,900 15,025 2011 $ 14,000 12,800 9,100 1,670 940 Required: Present the operating activities section of the statement of cash flows for Satellite Company using the indirect method. Statement of Cash Flows E13-13 (Supplement B) Computing and Reporting Cash Flow Effects of the Sale of Equipment During the period, Wong Company sold some excess equipment at a loss. The following information was collected from the company's accounting records: From the Income Statement Depreciation expense Loss on sale of equipment From the Balance Sheet Beginning equipment Ending equipment Beginning accumulated depreciation Ending accumulated depreciation $ 860 4,000 19,100 10,400 1,860 1,890 No new equipment was bought during the period. Required: 1. For the equipment that was sold, determine its original cost, its accumulated depreciation, and the cash received from the sale. (Use the equipment and accumulated depreciation T-accounts to infer the book value of the equipment sold.) 2. Wong Company uses the indirect method for the Operating Activities section of the cash flow statement. What amount related to the sale would be added or subtracted in the computation of Net Cash Flows from Operating Activities? The loss of would be added. 3. What amount related to the sales would be added or subtracted in the computation of Net Cash Flows from Investing Activities? The cash inflow of would be added. E13-16 Preparing a Statement of Cash Flows (Indirect Method) LO2, 4, 6 Deep Waters Company was started several years ago by two diving instructors. The company's comparative balance sheets and income statement are presented below, along with additional information. 2012 Balance Sheet at December 31 Cash Accounts receivable Prepaid expenses Equipment 2011 Net income $ 4,000 800 50 0 5,100 $ 4,850 $ 450 1,600 3,050 $ 1,100 1,000 2,750 $ Income Statement for 2012 Lessons revenue Wages expense Other expenses 3,700 900 100 400 $ Wages payable Contributed capital Retained earnings $ 5,100 $ 4,850 $ 33,950 30,000 3,650 $ 300 Additional Data: a. Prepaid expenses relate to rent paid in advance. b. Other expenses were paid in cash. c. Purchased equipment for $400 cash at the end of 2012 to be used starting in 2013. d. An owner contributed capital by paying $600 cash in exchange for the company's stock. Required: Prepare the statement of cash flows for the year ended December 31, 2012, using the indirect method. DEEP WATERS COMPANY Statement of Cash Flows For the Year Ended December 31, 2012 Cash flows from operating activities: Net cash used for operating activities Cash flows from investing activities: Net cash used for investing activities Cash flows from financing activities Net cash provided by financing activities Net decrease in cash during the year Cash balance, January 1, 2012 Cash balance, December 31, 2012 E13-5 Comparing the Direct and Indirect Methods LO1 Indicate whether the following cash flows are used under direct, indirect method or both. Cash Flows (and Related Changes) 1. Accounts payable increase or decrease 2. Payments to employees 3. Cash collections from customers 4. Accounts receivable increase or decrease 5. Payments to suppliers 6. Inventory increase or decrease 7. Wages payable, increase or decrease 8. Depreciation expense 9. Net income 10. Cash flows from operating activities 11. Cash flows from investing activities 12. Cash flows from financing activities 13. Net increase or decrease in cash during the period Statement of Cash Flows method P13-1 Preparing a Statement of Cash Flows (Indirect Method) LO1, 2, 4, 6 HiDef Films , Inc., is developing its annual financial statements at December 31, 2012. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized as follows: 2012 2011 Cash 68,550 64,700 Accounts receivable 16,550 23,550 Merchandise inventory 23,550 18,700 Property and equipment 210,850 151,100 Less: Accumulated depreciation (60,200) (46,350 259,300 211,700 10,500 20,800 5,700 1,900 61,700 72,800 100,400 66,500 81,000 49,700 259,300 211,700 Balance Sheet at December 31 Accounts payable Wages Payable Note payable, long-term Contributed capital Retained earnings Income Statement for 2010 Sales 201,000 Cost of goods sold 98,000 Depreciation expense 13,850 Other expenses 43,600 Net income 45,550 Additional Data: a. Bought equipment for cash, $59,750. b. Paid $11,100 on the long-term note payable. c. Issued new shares of stock for $33,900 cash. d. Dividends of $14,250 were declared and paid. e. Other expenses all relate to wages. f. Accounts payable includes only inventory purchases made on credit. Required: 1. Prepare the statement of cash flows using the indirect method for the year ended December 31, 2012 HIDEF FILMS, INC. Statement of Cash Flows For the Year Ended December 31, 2012 Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by operating activities: Net cash provided by operating activities Cash flows from investing activities: Net cash used by investing activities Cash flows from financing activities: Net Cash provided by financing activities Net increase in cash during the year Cash balance, January 1, 2012 Cash balance, December 31, 2012 P13-2 Preparing a Statement of Cash Flows (Indirect Method) LO1, 2, 4, 6 BG Wholesalers is developing its annual financial statements at December 31, 2013. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized: 2012 2011 Cash 39,000 31,400 Accounts receivable 35,300 31,100 Merchandise inventory 46,000 40,000 Property and equipment 124,900 101,900 Less: Accumulated depreciation (33,400) (26,600 211,800 177,800 Accounts payable 39,400 30,700 Accrued expenses 3,000 3,600 Note payable, long-term 46,400 50,600 Contributed capital 93,600 74,300 Retained earnings 29,400 18,600 211,800 177,800 Balance Sheet at December 31 Income Statement for 2010 Sales 134,000 Cost of goods sold 84,000 Other expenses 39,200 Net income 10,800 Additional Data: a. Bought equipment for cash, $23,000. b. Paid $4,200 on the long-term note payable. c. Issued new shares of stock for $19,300 cash. d. No dividends were declared or paid. e. Other expenses included depreciation, $6,800; wages, $20,800; taxes, $6,800; other, $4800. f. Accounts payable includes only inventory purchases made on credit. Because there are no liability accounts relating to taxes or other expenses, assume that these expenses were fully paid in cash. Required: 1. Prepare the statement of cash flows for the year ended December 31, 2013, using the indirect method. BG Wholesalers Statement of Cash Flows For the Year Ended December 31, 2012 Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by operating activities: Net cash provided by operating activities Cash flows from investing activities: Net cash used by investing activities Cash flows from financing activities: Net Cash provided by financing activities Net increase in cash during the year Cash balance, January 1, 2012 Cash balance, December 31, 2012