Question 11 (15 points) Alden Corporation\'s most recent c Ending Beginning Bala

Question

Question 11 (15 points) Alden Corporation's most recent c Ending Beginning Balance Balance Assets s 7,000 $12,000 2,000 39,000 24,000 9,000 83,000 100,000 Accounts receivabl. 11,000 Inventory Long-term investments Property, plant, and equipment 23,000 ation Liabilities and Stockholders Equity Accounts payable Income taxes payable Bonds payable.. ommon stock $9,000 $28,000 2,000 16,000 10,000 42,000 30,000 1,000 etained eamings Total liabilities and stockholders' equity Alden's net income was 534,000. No equipment was purchased and no long-term investments were sold. There was a gain of $3,000 when equipment was sola. The accumutated depreciation on the equipment that was sola was $12,000. Cash dividends of $20,000 were ceciared and paid during the year

Explanation / Answer

Cash flow Statement: Cash flows from Operating activities: Net Income for the year 34000 Adjustment required: Depreciation (62000-12000-66000) 16000 Gain on sale of equipment -3000 Increase in Accounts receivable -9000 Increase in Inventory -15000 Decrease in Accounts payable -19000 Decrease in Income tax payable -1000 Net cash provided from Operating activities 3000 Cash flow from Investing activities: Sale of equipment (17000-12000+3000) 8000 Purchase of Long term investment -14000 Net c ash used in investing activities -6000 Cash flows from Financing activities: Dividend paid -20000 Issue of Bonds 6000 Issue of common Stock 12000 Net cash used in financing activities -2000 Net decrease in cash -5000 Beginning balance in cash 12000 Ending balance in cash 7000

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