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The comparative balance sheet of Hirayama Industries Inc. for December 31, 20Y2 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash Accounts receivable (net) Inventories Land Equipment Accumulated depreciation-equipment $234 70 150 320 Check My Work 262 (87) $949 Total assets Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Dividends payable Common stock, $1 par Excess of paid-in capital over par Retained earnings Total liabilities and stockholders' equity $949 The following additional information is taken from the records: 1. Land was sold for $153. $65 6 160 109 609 $18 63 127 422 224 (54) $800 $47 102 90 561 $800
eBook Show Me How The ToRowing additionar Otmmation is THE TECUTOS. 1. Land was sold for $153. 2. Equipment was acquired for cash. 3. There were no disposals of equipment during the year. 4. The common stock was issued for cash. 5. There was a $79 credit to Retained Earnings for net income. 6. There was a $31 debit to Retained Earnings for cash dividends declared. a. Prepare a statement of cash flows, using the indirect method of presenting Cash flows from (used for) operating activities. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. Hirayama Industries Inc. Statement of Cash Flows For the Year Ended December 31, 20Y2 teaching and learning resource from Cengage Learn Cash flows from (used for) operating activities: Decrease in accounts receivable Adjustments to reconcile net income to net cash flows from (used for) operating activities: Changes in current operating assets and liabilities: Net cash flow from operating activities Cash flows from (used for) investing activities: 357,500 X 00 000 0
Chapter 16 Homework eBook Show Me How Net cash flow from operating activities Cash flows from (used for) investing activities: Net cash flow from investing activities Cash flows from (used for) financing activities: Net cash flows from financing activities Cash balance, January 1, 20Y2 Cash balance, December 31, 20Y2 Feedback- CengageNOWv2 | Online teaching and learning resource from Cengage Lear 0 Check My Work Calculate the increases and decreases in the current asset/liability accounts over the period. What affect do these increases/decreases have on cash? What items might have had an affect on net income but have no cash impact? What items are considered noncurrent assets? Wise Miss Industrie locknat.cach Bouse from operatione more or leer than not income?