P6-6 The following information is taken from the financial statements of Ucar Company. Prepare the statement of cash flows for the year 20X8. (Appendix 6) Prepare Cash Flow Statement Accounts with Debit Balances Cash UCAR Company 20X8 20X7 increase (decrease) TL 37,500 TL 39,250 TL (1,750) Accounts Receivable-net Merchandise Inventory Prepaid Operating Expenses Interest Receivable Other Tangible Assets Land Property, Plant and Equipment-PPE-net Investments *not patents 13,800 38,000 300 53,700 158,000 2,100 1,400 129,000 50,000 297,000 80,000 |39,900 120,000 1,800 1600 190.000 25,000 280,000 100,000 800 |39,000 25,000 17,000 |(20,000) 112, 150 808,700 696,550 Accounts with Credit Balances Accounts Payable Accrued Wages Payable Income Taxes Payable Unearned Revenues Bank Notes Payable - long term Common Stock: TL 15 par value Additional Paid in Capital Retained Earnings 45,000 3,000 16.000 2,500 215,000 405,000 170,000 62,200 38,000 2,400 4,500 1.250 200,000 375.000 50.000 25,400 7,000 600 1,500 1.250 15,000 30,000 20.000 36,800 808,700 696,550 112,150 Income Statement 20x8 TL 750,000 Sales Revenue Cost of Goods Sold (375,000) (43,000) (4,000) (125,000) (80,000) Depreciation Expense Loss from decline in value of inventory Salary and Wages Expense Administrative Expenses Other Operating Expenses Interest Revenue Interest Expense Income Tax Expense Net Income (5,000) 4.000 (20,000) (28,000) 74,000 Ucar Company Statement of Cash Flows For the year 20X8 TL 174.000 13,000 4.000 Cash flow from operations Net Income Depreciation Expense Loss from decline in value of inventory adjustments - Increase in accts receivable - merchandise inventory prepaid operating expenses -interest receivable + accounts payable + accrued wages payable + income taxes payable + unearned revenues CFO From investing activities Purchase of PPE Purchase of Land Sale of investments Purchase of other tangible assets CFI From financing activities Payment of Bank loan Borrowing from Bank Loan Issuance of Common Stock Add paid in capital Dividend payment CFF (13.800) (38,000) (300) (800) 7.000 600 1,500 1.250 78,450 (64,000) (25,000) 20,000 (39,000) (108,000) (50,000) 65,000 30,000 20,000 (37.200) 27,800 net change in cash (1.750) beginning cash 39,250 ending cash balance 37,500 * sold equipment at book value (10000-6000) for 4000 TL to be collected in 2009. Property Plant and Equipment Account 280.000 4000 Bookvalue of the equipment sold 64,000 43.000 Purchased Equipment 297,000 - Dividends Paid Dividends declared? 25,400 74,000 -62,200 RE beg Net Inc RE end dividends declared 37,200 Any dividends payable on statement of financial position? INO THEN declared-paid thus paid TL 37,200 Ices. RAST CORPORATION Accounts 31 Dec 20X6 31 Dec 20X7 TL TL 22.000 Account Receivable (from customers)-net Accounts Payable (for suppliers) Accumulated Depreciation Bonds Payable 30.000 76.000 236.000 67.000 146,800 Cash 40.000 50.000 45.800 40.600 120.000 140.000 23.000 22.800 288.000 256.000 5.000 80.000 192.000 120.000 100.000 215.600 205.500 2.400 4.800 28.000 24.000 Common Stock, $25 par value Depreciation Expense Equipment Gain on Sale of Trading Securities Land Merchandise Inventory Other Operating Expenses Prepaid Rent Rent Expense Retained Earnings Salaries Expense Salaries Payable Trading Securities Additional Paid in Capital Cost of Goods Sold Gross Profit Impairment Loss on Trading Securities Income Tax Expense Interest Expense Sales ? 75.400 260.000 24.000 56.000 40.000 256.000 28.000 60.000 60.000 797.200 957.000 643.000 5.000 32.000 702.800 1.000 52.000 4.500 1.500.000 4.000 1,600.000 ents Additional Information for the year 20X7: Land purchase TL 112.000 New equipment purchase 100.000 Old machinery: Cost 132.000 Accumulated depreciation. 112.000 Sales price 20.000 Issued common stock Paid back TL 30,000 bonds and issued new bonds. Declared and paid cash dividends. Sold trading securities that cost TL 10,000 for a gain of 5,000. Required: 1. Prepare the income statement for the year 20X7. 2. Prepare the statement of financial position at 31 December 20X7. 3. (Appendix 6) Prepare the statement of cash flows for the year 20x7. P 6-7 The following information is taken from the financial statement statement of cash flows for the year 20X8. (Appendix 6) Accounts with Debit Balances 20X8 Cash 20X 37.500 39 53.700 Accounts Receivable-net Merchandise Inventory Prepaid Operating Expenses 39. 158.000 120.0 Interest Receivable 2.100 1.400 129.000 1.8 Other Tangible Assets 60 Land 50.000 90.00 Property, Plant and Equipment-PPE-net 297.000 25.000 P6-6 The following information is taken from the financial statements of Ucar Company. Prepare the statement of cash flows for the year 20X8. (Appendix 6) Prepare Cash Flow Statement Accounts with Debit Balances Cash UCAR Company 20X8 20X7 increase (decrease) TL 37,500 TL 39,250 TL (1,750) Accounts Receivable-net Merchandise Inventory Prepaid Operating Expenses Interest Receivable Other Tangible Assets Land Property, Plant and Equipment-PPE-net Investments *not patents 13,800 38,000 300 53,700 158,000 2,100 1,400 129,000 50,000 297,000 80,000 |39,900 120,000 1,800 1600 190.000 25,000 280,000 100,000 800 |39,000 25,000 17,000 |(20,000) 112, 150 808,700 696,550 Accounts with Credit Balances Accounts Payable Accrued Wages Payable Income Taxes Payable Unearned Revenues Bank Notes Payable - long term Common Stock: TL 15 par value Additional Paid in Capital Retained Earnings 45,000 3,000 16.000 2,500 215,000 405,000 170,000 62,200 38,000 2,400 4,500 1.250 200,000 375.000 50.000 25,400 7,000 600 1,500 1.250 15,000 30,000 20.000 36,800 808,700 696,550 112,150 Income Statement 20x8 TL 750,000 Sales Revenue Cost of Goods Sold (375,000) (43,000) (4,000) (125,000) (80,000) Depreciation Expense Loss from decline in value of inventory Salary and Wages Expense Administrative Expenses Other Operating Expenses Interest Revenue Interest Expense Income Tax Expense Net Income (5,000) 4.000 (20,000) (28,000) 74,000 Ucar Company Statement of Cash Flows For the year 20X8 TL 174.000 13,000 4.000 Cash flow from operations Net Income Depreciation Expense Loss from decline in value of inventory adjustments - Increase in accts receivable - merchandise inventory prepaid operating expenses -interest receivable + accounts payable + accrued wages payable + income taxes payable + unearned revenues CFO From investing activities Purchase of PPE Purchase of Land Sale of investments Purchase of other tangible assets CFI From financing activities Payment of Bank loan Borrowing from Bank Loan Issuance of Common Stock Add paid in capital Dividend payment CFF (13.800) (38,000) (300) (800) 7.000 600 1,500 1.250 78,450 (64,000) (25,000) 20,000 (39,000) (108,000) (50,000) 65,000 30,000 20,000 (37.200) 27,800 net change in cash (1.750) beginning cash 39,250 ending cash balance 37,500 * sold equipment at book value (10000-6000) for 4000 TL to be collected in 2009. Property Plant and Equipment Account 280.000 4000 Bookvalue of the equipment sold 64,000 43.000 Purchased Equipment 297,000 - Dividends Paid Dividends declared? 25,400 74,000 -62,200 RE beg Net Inc RE end dividends declared 37,200 Any dividends payable on statement of financial position? INO THEN declared-paid thus paid TL 37,200 Ices. RAST CORPORATION Accounts 31 Dec 20X6 31 Dec 20X7 TL TL 22.000 Account Receivable (from customers)-net Accounts Payable (for suppliers) Accumulated Depreciation Bonds Payable 30.000 76.000 236.000 67.000 146,800 Cash 40.000 50.000 45.800 40.600 120.000 140.000 23.000 22.800 288.000 256.000 5.000 80.000 192.000 120.000 100.000 215.600 205.500 2.400 4.800 28.000 24.000 Common Stock, $25 par value Depreciation Expense Equipment Gain on Sale of Trading Securities Land Merchandise Inventory Other Operating Expenses Prepaid Rent Rent Expense Retained Earnings Salaries Expense Salaries Payable Trading Securities Additional Paid in Capital Cost of Goods Sold Gross Profit Impairment Loss on Trading Securities Income Tax Expense Interest Expense Sales ? 75.400 260.000 24.000 56.000 40.000 256.000 28.000 60.000 60.000 797.200 957.000 643.000 5.000 32.000 702.800 1.000 52.000 4.500 1.500.000 4.000 1,600.000 ents Additional Information for the year 20X7: Land purchase TL 112.000 New equipment purchase 100.000 Old machinery: Cost 132.000 Accumulated depreciation. 112.000 Sales price 20.000 Issued common stock Paid back TL 30,000 bonds and issued new bonds. Declared and paid cash dividends. Sold trading securities that cost TL 10,000 for a gain of 5,000. Required: 1. Prepare the income statement for the year 20X7. 2. Prepare the statement of financial position at 31 December 20X7. 3. (Appendix 6) Prepare the statement of cash flows for the year 20x7. P 6-7 The following information is taken from the financial statement statement of cash flows for the year 20X8. (Appendix 6) Accounts with Debit Balances 20X8 Cash 20X 37.500 39 53.700 Accounts Receivable-net Merchandise Inventory Prepaid Operating Expenses 39. 158.000 120.0 Interest Receivable 2.100 1.400 129.000 1.8 Other Tangible Assets 60 Land 50.000 90.00 Property, Plant and Equipment-PPE-net 297.000 25.000