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u03a2 Info
| BUS3061 Fundamentals of Accounting Assignment u03a2 Template |
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| Instructions: Download and save a copy of this Excel file. Using the information from this worksheet and from Table 6.3 on page 77 in the McCrary textbook, Mastering Financial Accounting Essentials: The Critical Nuts and Bolts, prepare the cash flow statement on the next worksheet. |
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| Skylar Enterprises, Inc. Comparative Balance Sheets |
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| Assets | 1/1/12 | 12/31/12 | Difference | ||||||||||||||||||||||||||||||||||
| Cash | $73,000 | $22,000 | $51,000 | ||||||||||||||||||||||||||||||||||
| Accounts receivable | $85,000 | $76,000 | $9,000 | ||||||||||||||||||||||||||||||||||
| Inventory | $170,000 | $189,000 | $19,000 | ||||||||||||||||||||||||||||||||||
| Land | $75,000 | $100,000 | $25,000 | ||||||||||||||||||||||||||||||||||
| Equipment | $260,000 | $200,000 | $60,000 | ||||||||||||||||||||||||||||||||||
| Accum. Depreciation – Equipment | -$66,000 | -$32,000 | $34,000 | ||||||||||||||||||||||||||||||||||
| Total | $597,000 | $555,000 | |||||||||||||||||||||||||||||||||||
| Liabilities and Equities | |||||||||||||||||||||||||||||||||||||
| Accounts payable | $39,000 | $47,000 | $8,000 | ||||||||||||||||||||||||||||||||||
| Bonds payable | $150,000 | $50,000 | |||||||||||||||||||||||||||||||||||
| Common stock | $216,000 | $174,000 | $42,000 | ||||||||||||||||||||||||||||||||||
| Retained earnings | $192,000 | $134,000 | $58,000 | ||||||||||||||||||||||||||||||||||
| Additional Information: 1. Net income for 2012 was $103,000. 2. Cash dividends of $45,000 were paid. 3. Bonds payable amounting to $55,000 were redeemed. 4. Common stock was issued for $42,000 cash. 5. No equipment was sold during 2012. 6. Land was sold at cost during 2012. |
Cash Flow Statement
| Skylar Enterprises, Inc. Statement of Cash Flows – Indirect Method For the Year Ended December 31, 2012 |
| Cash Flow from Operating Activities: |
| Cash Flow from Investing Activities: |
| Cash Flow from Financing Activities: |
u03a1
| BUS3061 Fundamentals of Accounting Assignment u03a1 Template |
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| Instructions: Classify each of the following cash inflows and outflows as operating, investing, or financing activities. For each item in | Column A | |||||
| Inflow | Outflow | & | Operating | Investing | Financing | |
| 1. Sale of a piece of company equipment. | ||||||
| 2. Sale of common stock. | ||||||
| 3. Payment to suppliers for merchandise purchased. | ||||||
| 4. Payment to lenders for interest on note payable. | ||||||
| 5. Sale of investments in other companies. | ||||||
| 6. Purchase of land to expand plant size. | ||||||
| 7. Payment to stockholders as cash dividends. | ||||||
| 8. Sale of goods or services. | ||||||
| 9. Payment to employees for wages and salaries. | ||||||
| 10. Lending of money to other business entities. | ||||||
| 11. Payment to government for property and income taxes. | ||||||
| 12. Collection of principal on loans to other entities. | ||||||
| 13. Interest and dividends received. | ||||||
| 14. Issue of bonds to support company growth. | ||||||
| 15. Purchase of investments in debt or equity of other entities. | ||||||
| 16. Payment to other entities to cover expenses incurred. | ||||||
| 17. Buyback of company stock from investors. |
