Statement of Cash Flows The comparative balance sheet of Whitman Co. at December 31, 2012 and 2041, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $ 671,100 $ 725,050 Accounts receivable (net) 610,700 557,010 Inventories 926,120 852,300 Prepaid expenses 21,480 25,500 Land 230,860 348,970 1,067,050 657,680 Buildings Accumulated depreciation-buildings (302,000) (281,860) 375,820 332,190 Equipment Accumulated depreciation-equipment (103,350) (116,100) Total assets $3,497,780 $3,100,740 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $ 664,580 $ 701,300 195,880 0 229,000 85,000 Bonds payable Common stock, $20 par Excess of paid-in capital over par Retained earnings 552,000 408,000 1,856,320 1,906,440 Total liabilities and stockholders' equity $3,497,780 $3,100,740 til SAV El The noncurrent asset, noncurrent liability, and stockholders' equity accounts for 2012 are as follows: ACCOUNT Land ACCOUNT NO. Balance Debit Item Credit Debit Credit Date 20Y2 Jan. 1 Balance 348,970 230,860 Apr. 20 Realized $109,800 cash from sale 118,110 ACCOUNT Buildings ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 20Y2 Jan. 1 Balance 657,680 1,067,050 Apr. 20Acquired for cash 409,370 ACCOUNT Accumulated Depreciation-Buildings ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 2012 Jan. 1 Balance 281,860 Dec. 31 Depreciation for year 20,140 302,000 ACCOUNT Equipment ACCOUNT NO. ACCOUNT Equipment ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 20Y2 Jan. 1 Balance 332,190 36,500 295,690 Jan. 26 Discarded, no salvage Aug. 11 Purchased for cash 80,130 375,820 ACCOUNT Accumulated Depreciation-Equipment ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 2012 Jan. 1 Balance 116,100 36,500 Jan, 26 Equipment discarded Dec. 31 Depreciation for year 79,600 103,350 23,750 ACCOUNT Bonds Payable ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 20Y2 May 1 Issued 10-year bonds 195,880 195,880 eBook Chapter 16 HW Assignments ACCOUNT NO. ACCOUNT Common Stock, $20 par Balance Debit Credit Debit Item Credit Date 2012 85,000 Jan. 1 Balance 144,000 229,000 Dec. 7 Issued 7,200 shares of common stock for $40 per share ACCOUNT NO. ACCOUNT Pald-in Capital in Excess of Par-Common Stock Balance Debit Item Credit Debit Credit Date 20Y2 408,000 Jan. 1 Balance 144,000 552,000 Dec. 7 Issued 7,200 shares of common stock for $40 per share ACCOUNT Retained Earnings ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 20Y2 Jan. 1 Balance 1,906,440 Dec. 31 Net loss 24,130 1,882,310 Dec. 31Cash dividends 25,990 1,856,320 Prepare statement of cash flows, using the indirect methodol presenting cash rows from (used for operating activities. Use the minus sign to indicate cash outflow, cash payments, decreases in cash, or any negative adjustments Whitman Co. Statement of Cash Flows For the Year Ended December 31, 2012 Cash nows from used for operating sites Adjustments to reconcile nations to net cash flow from (ned for operating active Changes in current operating and les ja bi bil v 0 0 Net cash wed for penting at Cash flows from used for investigate Net cash flows used for investing activities Cash own from used for finance Changes in current operating assets and liabilities: Net cash flows used for operating activities Cash Mows from (used for) Investing activities: 01 0110 QUI 1 Net cash flows used for investing activities Cash flows from (used for) financing activities: Net cash flows from financing activities Cash balance, January 1, 2012 Cash balance, December 31, 2012
