The comparatve baace sheet of Whitm.an Co. at December 31, 2016 and 2015, Is as

Question

The comparatve baace sheet of Whitm.an Co. at December 31, 2016 and 2015, Is as ollows Dec. 31, 2016 Dec. 31, 2015 Assets 64,930.00 762860.00 70.001162780.0 36,010.00 480.690.00 01470.00 409,170.00) 38690.00) 53,680.00 159,400.00) 4.781,780.00 $4.220,330.00 Cash 917.690.00 Accounts receivable (net 828,620.00 s Inventories Prepaid expenses Land Buildings 9050.00 15,250.00 462.990.00 3Equipment 11.480.00 142,100.00) Totalassets Liabilities and Stockholders Equity 4 Accounts payable (merchandise creditors) 15 Bonds payable s6 Common stock, $25 par 17 Paid-in capital: Excess of issue price over par-common stock 958,540.00 0.00 118,000.00 558,000.00 495,200.00 2,585,790.00 4.781,780.00 $4.220,330.00 923,380.00 69000.00 3000.00 71200.00 Retained eanings Total liabilities and stockholders equity The nancurrent asset, nancurrent lability, and stockholders" equity accounts for 2016 are as tollows ACCOUNT Land ACCOUNT NO Balance Debi Date 2016 an1 a ance Apr. 20 Rea zed 5153,400 cash trom sale tem Deoit Credt 315 250

Explanation / Answer

Whitman & Co.

Statement of cash flows

Particulars Amt Amt Cash flows from operating activities: Net Loss -58980   Adjustments to renconcile net loss to net cash flow from operating activities: Depreciation for the year ended december 31,2016(26480+28970) 55450 Loss on sale of Land(165440-153400) 12040 Changes in current operating assets & liabilities: Increase in accounts receivable(828620-762860) -65760 Increase in Inventories(1267970-1162780) -105190 Decrease in Prepaid Expenses(29050-36010) 6960 Decrease in accounts payable(923380-958540) -35160 Net Cash flow from Operating Activities -190640 Cash flows from Investing activities: Cash received from Land Sold 153400 Cash paid for acquisition of building -561520 Cash paid for purchase of equipment -104070 Net Cash flow from Investing Activities -512190 Cash flows from Financing Activities: Cash Received from issuance of bonds payable 269000 Cash Received from issuance of common stock(205000+213200) 418200 Cash paid for dividends -31610 Net cash flow from Financing Activities 655590 Decrease in Cash(-190640-512190+655590) -47240 Cash at the beginning of the year 964930 Cash at the end of the year 917690

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.