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Yoric Company listed the net changes in its balance sheet accounts for the past year as follows: Credits > Debits byt Debite > Credits by:
Yoric Company listed the net changes in its balance sheet accounts for the past year as follows: Credits > Debits byt Debite > Credits by: $ 103,700 170,200 $ 83,500 4,500 103,000 Cash Accounts receivable Inventory Prepaid expenses Long-term loans to subsidiaries Long-term investments Plant and equipment Accumulated depreciation Accounts payable Accrued liabilities Income tax payable Bonds payable Common stock Retained earnings 98,000 281,000 65, 700 49,200 5,500 9,700 403,000 120,000 76,800 $790, 900 $790.900 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 $35,300. The equipment originally cost $161,000 and it had $127,400 in accumulated depreciation at the time of sale. c. Cash dividends of $10,700 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 $2,910,000 $), 191,000 $ 982,600 $1,048,300 e. The balance in the Cash account at the beginning of the year was $110.000; 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. 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 Investing activities Financing activities
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