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CHAPTER 17 STATEMENT OF CASH FLOWS Basic problems Problem 17-3 (IAA) Oakwood Company provided the following data for the current year: Cash balance, beginning of year 1,300,000 Cash flow from financing activities 1,000,000 Total shareholders' equity, end of year 2,300,000 Cash flow from operating activities 400,000 Cash flow from investing activities (1,500,000) Total shareholders' equity, beginning of year 2,000,000 What is the cash balance at the end of current year? a. 1,200,000 b. 1,600,000 c. 1,400,000 d. 1,700,000 Problem 17-1 (AICPA Adapted) Rook Company had the following balances on December 31, 2015: Cash in checking account 350,000 Cash in money market account 250.000 Treasury bill, purchased December 1, 2015, maturing February 28, 2016 800,000 Treasury bill, purchased March 1, 2015 maturing February 28, 2016 500,000 What amount should be reported as cash and cash equivalents on December 31, 2015? a. 600.000 b. 1.150,000 c. 1,400,000 d. 1.900,000 Problem 17-2 (AICPA Adapted) On December 31, 2015, Kale Company had the following balances in the bank accounts with First Bank: Checking account#101 1,750,000 Checking account #201 ( 100,000) Time deposit 250.000 Commercial papers 1,000,000 90-day treasury bill, due February 28, 2016 500.000 180-day treasury bill, due March 15, 2016 800,000 On December 31, 2015, what amount should be reported as cash and cash equivalents? 3,400,000 b. 2.000,000 2.400,000 d 3,200,000 Problem 17-4 (IAA) Seawall Company provided the following data for the preparation of the statement of cash flows for the current year: Dividends declared and paid 800,000 Cash flow from investing activities (2,500,000) Cash flow from financing activities ( 800,000) December 31 January 1 Cash 2,100,000 1,200,000 Other assets 21,000,000 22,700,000 Liabilities 10,500,000 11,700,000 Share capital 2.000.000 2,000,000 Retained earnings 10,600,000 10,200,000 What amount should be reported as cash flow from operating activities? a 4.200.000 b. 2,400,000 4,500,000 d. 5,400,000 a. c 602 603 Problem 17-5 (IAA) Santana Company provided the following information for the current year: December 31 January 1 Cash 1,500,000 1,000,000 Retained earnings 7,000,000 5,400.000 Cash flow from operating activities ? Cash flow from investing activities (4,800,000) Cash flow from financing activities 1.800,000 Dividends declared and paid 2,000,000 Net income 3,600,000 Probiem 17-7 (IAA) Star Company provided the following data for the preparation of statement of cash flows for the current year using the direct method: Cash balance, beginning 1,500,000 Cash paid to purchase inventory 7.800,000 Cash received from sale of building 5,600,000 Cash paid for interest 450,000 Cash paid to repay a loan 1,000,000 Cash collected from customers 10.000.000 Cash received from issuance of ordinary shares 1,200,000 Cash paid for dividend 780.000 Cash paid for income taxes 1,320,000 Cash paid to purchase machinery 1,950,000 What is the net cash flow from operating activities? a. 1,750,000 b. 970,000 C. 880,000 d. 430,000 What amount should be reported as cash flow from operating activities? a. 3,500,000 b. 2,500,000 c. 4,500,000 d. 3,600,000 Problem 17-8 (AA) Fragile Company had the following cash flows during the current year: Problem 17-6 (AICPA Adapted) Lax Company provided the following information during the current year. Dividend received 500.000 Dividend paid 1,000,000 Cash received from customers 9,000,000 Proceeds from issuing share capital 1,500,000 Interest received 200.000 Proceeds from sale of long term investments 2,000,000 Cash paid to suppliers and employees 6,000,000 Interest paid on long term debt 400,000 Income taxey paid 300,000 Cash balance, January 1 1.800,000 4,000,000 2,000,000 300,000 Cash receipts from issuance of ordinary shares Cash receipts from customers Cash receipts from dividends on long-term investments Cash receipts from repayment of loan made to another entity Cash payments for wages and other operating expenses Cash payments for insurance Cash payments for dividends Cash payments for taxes Cash payment to purchase land 2.200.000 1,200,000 100,000 200,000 400,000 800,000 What is the net cash provided by operating activities? What is the net cash provided by operating activities for the current year using direct method? a. 3,000,000 b. 3,300,000 c. 2,700,000 d. 2,000,000 a. 600,000 b. 400,000 c. 300,000 d. 200.000 604 605 Problem 17-9 (AICPA Adapted) Sand Company provided the following information for the current year: Problem 17-11 (PHILCPA Adapted) Roger Company reported net income for the current year of P3,520,000. The entity provided the following additional data during the year: Cash received from customers Rent received Cash paid to suppliers and employees Taxes paid Cash dividends paid 8,700,000 100,000 5,100,000 1,100,000 300,000 Purchase of plant assets Depreciation of plant assets Dividends declared Net decrease in noncash current assets Loss on sale of equipment 2,800,000 1,480,000 970,000 290,000 130,000 What was the net cash provided by operating activities for the current year? What is the net cash provided by operating activities in the statement of cash flows for the current year using the indirect inethod? a. 2,500,000 b. -2,300,000 c. 2,200,000 d. 2,600,000 a. 5,420,000 b. 5,130,000 c. 7,250,000 d. 5,290,000 Problem 17-10 (AICPA Adapted) Moon Company reported net income of P5,000,000 for the current year. Depreciation expense was P1,900,000. The following working capital accounts changed: Problem 17-12 (AICPA Adapted) Kresley Company reported net income of P750,000 for the current year. The entity provided the following account balances for the preparation of statement of cash flows for the current year: Accounts receivable Nontrading equity investment Inventory Nontrade note payable Accounts payable 1,100,000 increase 1,600,000 increase 730,000 increase 1,500,000 increase 1,220,000 increase Under the indirect method, what net amount of adjustments is required to reconcile net income to net cash provided by operating activities? January 1 December 31 Accounts receivable 115,000 145,000 Allowance for uncollectible accounts 4,000 5,000 Prepaid rent expense 62,000 41,000 Accounts payable 97,000 112,000 What is the net cash provided by operating activities for the current year? a. 4,950,000 b. 1,050,000 c. 1,290,000 d. 310,000 a. 727,000 b. 743,000 755,000 d. 757,000 606 607
