Answer Happy

Instructions X Labels and Amount Descriptions x The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 2048 and 2077, is as follows: Labels Cash flows from (used for) operating activities Cash flows from (used for) investing activities 1 Dec. 31, 20Y8 Dec. 31, 2017 Cash flows from (used for) financing activities December 31, 2048 2 Assets 3 Cash For the Year Ended December 31, 20Y8 $95,000.00 $110,000.00 Amount Descriptions 4 Accounts receivable (net) 260,000.00 280,000.00 Cash paid for dividends 520,000.00 450,000.00 5 Inventories 6 Prepaid expenses Cash paid for equipment 15,000.00 5,000.00 Cash paid for merchandise 1.130,000.00 800,000.00 Cash paid for purchase of land 7 Equipment 8 Accumulated depreciation equipment (235,000.00 (190,000.00) Cash paid to retire mortgage note payable 9 Total assets $1,785,000.00 $1,455,000.00 Cash received from customers 10 Liabilities and Stockholders' Equity Cash received from sale of common stock Cash balance, January 1, 20Y8 $100,000.00 $75,000.00 11 Accounts payable (merchandise creditors) 12 Mortgage note payable Cash balance, December 31, 20Y8 0.00 500.000,00 Decrease in inventories 13 Common stock, $10 par 500,000.00 200,000.00 Decrease in accounts payable 14 Paid-in capital in excess of par-common stock 400,000.00 100,000.00 Decrease in accounts receivable 15 Retained eamings 785,000.00 580,000.00 Decrease in prepaid expenses 16 Total Liabilities and stockholders' equity $1,785,000.00 $1,455,000.00 Depreciation Gain on disposal of equipment Gain on sale of investments
Instructions Labels and Amount Descriptions Decrease in inventories 9 Total assets $1,785,000.00 $1,455,000.00 Decrease in accounts payable 10 Liabilities and Stockholders' Equity Decrease in accounts receivable 11 Accounts payable (merchandise creditors) $100,000.00 $75,000.00 Decrease in prepaid expenses 0.00 500,000.00 Depreciation 12 Mortgage note payable 13 Common stock, $10 par $ 500,000.00 200,000.00 Gain on disposal of equipment 14 Paid-in capital in excess of par-common stock 400,000.00 100.000,00 Gain on sale of investments 15 Retained earings 785,000.00 580,000.00 Increase in accounts payable Increase in accounts receivable 16 Total Liabilities and stockholders' equity $1,785,000.00 $1,455,000.00 Increase in inventories Increase in prepaid expenses Loss on disposal of equipment Loss on sale of investments Additional data obtained from the income statement and from an examination of the accounts in the ledger for 20Y8 are as follows: Net cash flows from financing activities a. Net income, $250,000. b. Depreciation reported on the income statement, $135,000. Net cash flows from investing activities Net cash flows from operating activities c. Equipment was purchased at a cost of $420,000 and fully depreciated equipment costing $90,000 was discarded, with no salvage Net cash flows used for financing activities realized. Net cash flows used for investing activities d. The mortgage note payable was not due for six years, but the terms permitted earlier payment without penalty. Net cash flows used for operating activities e. 30,000 shares of common stock were issued at $20 for cash. Net decrease in cash f. Cash dividends declared and paid, $45,000. Net income Net increase in cash Required: Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) operating activities. Net loss
Yellow Dog Enterprises Inc. Statement of Cash Flows (Label) 1 Label) 2 3 Adjustments to reconcile net income to net cash flows from (used for) operating activities: 4 5 Changes in current operating assets and liabilities: 6 7 8 9 10 11 12 Label) 13 14 15
6 7 8 9 10 11 12 (Label) 13 14 15 16 Label) 17 18 19 20 21 22 23