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The following partially completed spreadsheet has been prepared for Perrin Company's 2016 statement of cash flows: Balances Change Worksheet Entries Account Titles 12/31/15 12/31/16 Increase

The following partially completed spreadsheet has been prepared for Perrin Company's 2016 statement of cash flows:

BalancesChangeWorksheet Entries
Account Titles12/31/1512/31/16Increase (Decrease)DebitCredit
Debits
Cash8001,540
Noncash Accounts:
Accounts Receivable1,5002,180
Inventory3,1006,055
Investments in Stock2,800
Land6,0009,200
Buildings20,00020,000
Office Equipment4,0006,100
Delivery Equipment3,0005,900
Treasury Stock2,000
Totals38,40055,775?
Credits
Accumulated Depreciation7,0008,500
Accounts Payable3,3003,695
Wages Payable600500
Bonds Payable5,000
Premium on Bonds Payable240
Common Stock, $10 par6,0008,200
Additional Paid-in Capital9,00013,640
Retained Earnings??3,500
Totals38,40055,775?
  1. Additional relevant information:
    Beginning retained earnings$12,500
    Plus: Net income8,000
    $20,500
    Less: Stock dividends$ 840
    Cash dividends3,660(4,500)
    Ending retained earnings$16,000
  2. Accumulated depreciation is a contra account for all the depreciable assets. Depreciation on these assets totaled $2,200 for the year.
  3. On January 1, 2016, the company issued 10% bonds with a face value of $5,000 at 106. Interest was paid semiannually on June 30 and December 31. The bonds mature on January 1, 2021. Straight-line amortization is used for bond discount or premium. Bond interest expense was $440.
  4. Land was purchased for $3,200 during the year.
  5. Two hundred shares of common stock were issued for delivery equipment valued at $2,900 and office equipment valued at $3,100.
  6. Twenty shares of stock were issued as a stock dividend. The market price per share was $42.
  7. Office equipment with a cost of $1,000 and a book value of $300 was sold for $50.
  8. Fifty shares of its own common stock were reacquired by the company as treasury stock. The company purchased the shares for $40 per share.
  9. One hundred shares of Doe Company stock were purchased for $28 per share at year-end.

Required:

Complete the spreadsheet. Use the minus sign to indicate cash outflows, a decrease in cash or cash payments.

PERRIN COMPANY
Cash Flows Worksheet
For Year Ended December 31, 2016
BalancesWorksheet Entries
Account Titles12/31/201512/31/2016ChangeDebitCredit
Debits
Cash8001,540
Noncash Accounts:
Accounts Receivable1,5002,180
Inventory3,1006,055
Investments in Stock2,800
Land6,0009,200
Buildings20,00020,000
Office Equipment4,0006,100
Delivery Equipment3,0005,900
Treasury Stock2,000
Totals38,40055,775
Credits
Accumulated Depreciation7,0008,500
Accounts Payable3,3003,695
Wages Payable600500
Bonds Payable5,000
Premium on Bonds Payable240
Common stock, $10 par6,0008,200
Additional Paid-in Capital9,00013,640
Retained Earnings3,500
Totals38,40055,775

Worksheet Entries
DebitCredit
Cash Flows from Operating Activities:
Cash Flows from Investing Activities:
Cash Flows from Financing Activities:
Investing and Financing Activities Not Affecting Cash:
Totals

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