d WileyPLUS O edugen wilcyplus.com PLUS Weygandt, Finanal Accounting, 1oe Study

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d WileyPLUS O edugen wilcyplus.com PLUS Weygandt, Finanal Accounting, 1oe Study & Practike Gradebook ORION Downloadable eTextbeok Open Assignment CALCULATOR Exercise 12-8 Chapter 12 Wildhorse Co.'s comparative balance sheets are presented below. Comparative Balance Sheets December 31 019 018 Accounts receivable Land Buildings Accumulated depreciation- buildings 21,600 20,500 0,200 (14,500) (10,800) 14,600 10,300 23,900 25,900 70,200 uts.by tive Total $112,400 $19,500 Accounts payable Common stock Retained earnings 12.000 28.200 73,300 18,000 112,400 119,500 74,000 26,400 Total Additional information 1. Net income was s22,900. Dividends declared and paid were $14,500 2. No noncash investing and financing activities occurred during 2019 3. The land was sold for cash of $4,700 I'm Cortana. Ask me a DB Geek Americas 1-883-630-

Explanation / Answer

Cash flow Statement: Cash flows from Operating activities: Net income for the period 22900 Adjustment required Depreciation 3700 Loss on sale of Land (5400-4700) 700 Decrease in Accounts receivable 2300 Decrease n Accounts payable -16200 -9500 Net cash provided from Operating activities 13400 Cash flows from Investing activities: Sale of Land 4700 Net cash provided from Investing activities 4700 Cash flows from Financing activities: Dividend paid -14500 Common Stock issued 700 Net cash used in Financing activities -13800 Net Increase in cash 4300 Beginning Balance in cash 10300 Ending balance in cash 14600

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