Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN: 9781337788281
Author: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher: Cengage Learning
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Chapter 21, Problem 9E
Partially Completed Spreadsheet Hanks Company has prepared the following changes in account balances for the spreadsheet to support its 2019 statement of cash flows:
Additional information: The net income was $1,300.
Required:
On the basis of the preceding information, complete the spreadsheet.
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View the balance sheet and cash flows, and write a 100 word minimum analysis in complete sentences.
Period Ending:
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net Income
$690,000
-$870,000
-$976,000
-$1,962,000
Cash Flows-Operating Activities
Depreciation
$2,502,000
$2,342,000
$2,060,000
$1,727,000
Net Income Adjustments
$2,395,000
$1,187,000
$1,043,000
$950,000
Changes in Operating Activities
Accounts Receivable
-$652,000
-$367,000
-$497,000
-$25,000
Changes in Inventories
-$422,000
-$429,000
-$1,023,000
-$179,000
Other Operating Activities
-$1,667,000
-$937,000
-$504,000
-$1,610,000
Liabilities
$2,925,000
$1,384,000
$2,082,000
$1,317,000
Net Cash Flow-Operating
$5,943,000
$2,405,000
$2,098,000
-$61,000
Cash Flows-Investing Activities
Capital Expenditures
-$3,232,000
-$1,432,000
-$2,319,000
-$4,081,000
Investments
--
--
--
--
Other Investing Activities
$100,000
-$4,000
-$18,000
-$115,000
Net Cash Flows-Investing
-$3,132,000…
Statement of Cash Flows
The following is a list of the items to be included in the preparation of Warrick Company's 2019 statement of cash flows:
Net income, $35,400
Payment for purchase of building, $87,000
Increase in accounts receivable, $7,200
Proceeds from issuance of common stock, $36,400
Increase in accounts payable, $4,400
Proceeds from sale of land, $8,000
Depreciation expense, $19,000
Payment of dividends, $32,000
Gain on sale of land, $3,500
Decrease in inventory, $3,300
Payment for purchase of long-term investments, $8,300
Amortization of discount on bonds payable, $1,500
Proceeds from issuance of note, $16,000
Increase in deferred taxes payable, $5,800
Equipment acquired by capital lease, $19,500
Decrease in salaries payable, $2,600
Beginning cash balance, $22,000
Required
1. Prepare the statement of cash flows. Use the minus sign to indicate cash outflows, a decrease in cash or cash payments.
WARRICK COMPANY
Statement of Cash Flows
For Year Ended December…
Statement of Cash Flows
The following is a list of the items to be included in the preparation of Warrick Company's 2019 statement of cash flows:
Net income, $53,600
Payment for purchase of building, $99,000
Increase in accounts receivable, $7,000
Proceeds from issuance of common stock, $37,500
Increase in accounts payable, $4,800
Proceeds from sale of land, $7,000
Depreciation expense, $17,000
Payment of dividends, $34,000
Gain on sale of land, $3,000
Decrease in inventory, $3,900
Payment for purchase of long-term investments, $8,000
Amortization of discount on bonds payable, $1,100
Proceeds from issuance of note, $17,000
Increase in deferred taxes payable, $4,300
Equipment acquired by capital lease, $16,100
Decrease in salaries payable, $2,400
Beginning cash balance, $20,300
Required
1. Prepare the statement of cash flows. Use the minus sign to indicate cash outflows, a decrease in cash or cash payments.
Chapter 21 Solutions
Intermediate Accounting: Reporting And Analysis
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Ch. 21 - Prob. 11GICh. 21 - Prob. 12GICh. 21 - Prob. 13GICh. 21 - Dunn Company recognized a 5,000 unrealized holding...Ch. 21 - Jordan Company recognized a 5,000 unrealized...Ch. 21 - Indicate how a company computes the amount of...Ch. 21 - Prob. 17GICh. 21 - Prob. 18GICh. 21 - Prob. 19GICh. 21 - Which of the following would be considered a cash...Ch. 21 - In a statement of cash flows (indirect method),...Ch. 21 - The net cash provided by operating activities in...Ch. 21 - The retirement of long-term debt by the issuance...Ch. 21 - Prob. 5MCCh. 21 - Selected information from Brook Corporations...Ch. 21 - Prob. 7MCCh. 21 - Prob. 8MCCh. 21 - Which of the following need not be disclosed in a...Ch. 21 - The following information was taken from Oregon...Ch. 21 - Prob. 1RECh. 21 - Prob. 2RECh. 21 - Given the following information, convert Cardinal...Ch. 21 - Given the following information, convert Robin...Ch. 21 - In the current year, Harrisburg Corporation had...Ch. 21 - Tifton Co. had the following cash transactions...Ch. 21 - Tifton Co. had the following cash transactions...Ch. 21 - Trenton Corporation has the following items....Ch. 21 - Prob. 9RECh. 21 - In the current year, Harrisburg Corporation...Ch. 21 - Providence Company sold equipment for 25,000 cash....Ch. 21 - Annapolis Corporation paid 270,000 to retire bonds...Ch. 21 - Given the following information, compute Lemon...Ch. 21 - Prob. 14RECh. 21 - Prob. 1ECh. 21 - Prob. 2ECh. 21 - Visual Inspection Noble Companys accounting...Ch. 21 - Prob. 4ECh. 21 - Prob. 5ECh. 21 - Prob. 6ECh. 21 - Prob. 7ECh. 21 - Prob. 8ECh. 21 - Partially Completed Spreadsheet Hanks Company has...Ch. 21 - Spreadsheet The following 2019 information is...Ch. 21 - Spreadsheet and Statement The following 2019...Ch. 21 - Fixed Asset Transactions The following is an...Ch. 21 - Retirement of Debt Moore Company is preparing its...Ch. 21 - Interest and Income Taxes Staggs Company has...Ch. 21 - Investments On October 4, 2019, Collins Company...Ch. 21 - Statement of Cash Flows The following is a list of...Ch. 21 - Investing Activities and Depreciable Assets...Ch. 21 - Spreadsheet and Statement The following 2019...Ch. 21 - (Appendix 21.1) Operating Cash Flows The following...Ch. 21 - (Appendix 21.1) Statement of Cash Flows The...Ch. 21 - (Appendix 21.1) Visual Inspection The following...Ch. 21 - Prob. 22ECh. 21 - Classification of Cash Flows A company's statement...Ch. 21 - Prob. 2PCh. 21 - Statement of Cash Flows The following is a list of...Ch. 21 - Statement of Cash Flows The following is a list of...Ch. 21 - Partially Completed Spreadsheet The following...Ch. 21 - Spreadsheet and Statement of Cash Flows The...Ch. 21 - Prob. 7PCh. 21 - Spreadsheet from Trial Balance Heinz Companys post...Ch. 21 - Prepare Ending Balance Sheet On December 31, 2019,...Ch. 21 - Infrequent Transactions The following transactions...Ch. 21 - Prob. 11PCh. 21 - Comprehensive Angel Company has prepared its...Ch. 21 - Comprehensive The following are Farrell...Ch. 21 - (Appendix 21.1) Operating Cash Flows Refer to the...Ch. 21 - (Appendix 21.1) Statement of Cash Flows The...Ch. 21 - Comprehensive The following are Farrell...Ch. 21 - (Appendix 21.1) Comprehensive The following are...Ch. 21 - Prob. 18PCh. 21 - Financial Statement Interrelationships Prepare an...Ch. 21 - Statement of Cash Flows A friend of yours is...Ch. 21 - Prob. 3CCh. 21 - Operating, Investing, and Financing Activities The...Ch. 21 - Prob. 5CCh. 21 - Spreadsheet Method The spreadsheet method is...Ch. 21 - Prob. 7CCh. 21 - Inflows and Outflows Alfred Engineering Company is...Ch. 21 - Ethics and Cash Flows You are the accountant for...
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