PLUS Kieso, Intermediate Accounting, 16e Gradebook ORION Downloadable eTextbook

Question

PLUS Kieso, Intermediate Accounting, 16e Gradebook ORION Downloadable eTextbook Study & Practice Open Assignment ESOURCES Exercise 5-16 2/14 A comparative balance sheet for Sandhill Corporation is presented below. December 31 2017 201 Assets $ 72,880 $22,000 84,590 68,710 182,590191,710 73,590 112,710 262,590 202,710 (71,590) (44,710) $604,650 $553,130 ts by Stady Cash Accounts receivable Inventory Land Equipment Accumulated Depreciation-Equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings 36,590 49,710 150,000 200,000 214,000 164,000 204,060 139,420 $604,650 $553,130 Total Additional information: 1. Net income for 2017 was $130,180. No gains or losses were recorded in 2017 2. Cash dividends of $65,540 were declared and paid. 3. Bonds payable amounting to $50,000 were retired through issuance of common stock. All Rights Reserved. A Division of John Wiley&Sons; Ins cash fow solution.pot cash fiow st ACCT 101 Lecture Not..docCh 5-balance sheet -.pdt 13

Explanation / Answer

Statement of Cash Flows Amount in $ Amount in $ Net income $          1,30,180 Cash flows from operating activities Adjustments for: Depreciation $             26,880 (Increase) / Decrease in Account receivables $            -15,880 Inventory Decrease / (Increase) $                9,120 Accounts payable Increase / ( Decrese) $            -13,120 $                7,000 Net cash from operating activities $          1,37,180 Cash flows from investing activities Purchase of Equipemt $            -59,880 Sale of land $             39,120 Net cash used in investing activities $            -20,760 Cash flows from Financing activities Dividend Paid $            -65,540 Net cash used in financing activities $            -65,540 Net increase in cash and cash equivalents $             50,880 Add :Cash and cash equivalents at beginning of period $             22,000 Cash and cash equivalents at end of period $             72,880

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

---

---

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