Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Problem 13-11 Missing Data; Statement of Cash Flows (L013-1, LO13-2) Yoric Company listed the net changes in its balance sheet accounts for the past year

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Problem 13-11 Missing Data; Statement of Cash Flows (L013-1, LO13-2) Yoric Company listed the net changes in its balance sheet accounts for the past year as follows: Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Long-term loans to subsidiaries Long-term investments Plant and equipment Accumulated depreciation Accounts payable Accrued liabilities Income taxes payable Bonds payable Common stock Retained earnings Debits > Credits > Credits byt Debits by: $128,700 170,600 $ 84,800 4,800 103,000 93,000 270,000 65,000 48,400 5,100 9,300 408,000 123,000 76,700 $ 795,200 $795,200 The following additional information is available about last year's activities: a. Net income for the year was $_2 b. The company sold equipment during the year for $35,700. The equipment originally cost $160,200 and it had $125,700 in accumulated depreciation at the time of sale. c. Cash dividends of $10,900 were declared and paid during the year. d. The beginning and ending balances in the plant and Equipment and Accumulated Depreciation accounts are given below: 14 btv A The following additional information is available about last year's activities: a. Net income for the year was $? b. The company sold equipment during the year for $35,700. The equipment originally cost $160.200 and it had $125.700 in accumulated depreciation at the time of sale. c. Cash dividends of $10,900 were declared and paid during the year. d. The beginning and ending balances in the plant and Equipment and Accumulated Depreciation accounts are given below: Plant and equipment Accumulated depreciation Beginning Ending $2,927,000 $3,197,000 $ 980, 400 $1,045,400 e. The balance in the Cash account at the beginning of the year was $109,900; the balance at the end of the year was $_?_ f. If data are not given explaining the change in an account make the most reasonable assumption as to the cause of the change. Required: Using the indirect method, prepare a statement of cash flows for the year. (List any deduction in cash and cash outflows as negative amounts.) Yoric Company Statement of Cash Flows Operating activities: Saved 13: Required homework i saved Yoric Company Statement of Cash Flows Operating activities: d ces 0 0 Investing activities: 0 Financing activities: BEP 14 C ty U Investing activities: d 0 Financing activities: ces 0 Beginning cash and cash equivalents Ending cash and cash equivalents $ $ 0

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Endangered Economies How The Neglect Of Nature Threatens Our Prosperity

Authors: Geoffrey Heal

1st Edition

0231180845, 9780231180849

More Books

Students also viewed these Accounting questions

Question

Discuss the implications of Husserls phenomenology for psychology.

Answered: 1 week ago

Question

To what microcultural groups do you belong?

Answered: 1 week ago