Question Content Area
Statement of Cash Flows—Indirect Method
The comparative balance sheet of Whitman Co. at December 31,20Y2 and 20Y1, is as follows:
The noncurrent asset, noncurrent liability, and stockholders'equity accounts for 20Y2 are as follows:
Required:
Prepare a statement of cash flows, using the indirect method ofpresenting cash flows from operating activities. Use the minus signto indicate cash outflows, cash payments, decreases in cash, or anynegative adjustments.
DepreciationDividendsGain on sale of landLoss on sale of landNetlossRetained earnings
Decrease in accounts receivableDepreciationGain on sale oflandIncrease in accounts receivableIncrease in bondspayableIncrease in common stock
Decrease in accounts receivableDecrease in inventoriesGain onsale of landIncrease in accounts payableIncrease in prepaidexpensesLoss on sale of land
Decrease in accounts receivableDecrease ininventoriesDepreciationIncrease in accounts receivableIncrease inaccumulated depreciation-buildingsIncrease in bonds payable
Decrease in accounts receivableDecrease in bonds payableDecreasein inventoriesIncrease in accounts payableIncrease ininventoriesIncrease in land
Decrease in inventoriesDecrease in prepaid expensesIncrease inaccounts payableIncrease in accumulateddepreciation-equipmentIncrease in common stockIncrease in prepaidexpenses
Decrease in accounts payableDecrease in inventoriesIncrease inaccounts payableIncrease in paid-in capital in excess of par-commonstockNet incomeRetained earnings
Cash received from customersCash received from gain on sale oflandCash from land soldCash from issuance of common stockCashreceived from net incomeCash received from retained earnings
Accumulated depreciationCash used for acquisition ofbuildingCash paid for bonds payableCash used fordividendsDepreciationLoss on sale of land
Cash from issuance of bonds payableCash from issuance of commonstockCash used for purchase of equipmentDecrease in accountsreceivableIncrease in accounts payableIncrease in inventories
Cash received from decrease in accounts receivableCash receivedfrom decrease in prepaid expensesCash from issuance of bondspayableCash received from purchase of buildingCash received frompurchase of equipmentCash received from sale of land
Cash paid for accounts payableCash used for acquisition ofbuildingCash paid for issuance of common stockCash received fromcustomersCash from issuance of common stockCash received from saleof land
Cash from net lossCash used for dividendsCash paid for loss onsale of landCash paid for purchase of buildingCash used forpurchase of equipmentCash paid for retained earnings
Decrease in cashIncrease in cash
Question Content Area Statement of Cash Flows—Indirect Method The comparative balance sheet of Whitman Co. at December 3
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