Gradebook ORION Downloadable eTextbook CALCULAT Problem 12-11A The comparative b

Question

Gradebook ORION Downloadable eTextbook CALCULAT Problem 12-11A The comparative balance sheets for Blossom Company as of December 31 are presented below. Blossom Company Comparative Balance Sheets December 31 Assets Cash Accounts receivable 2017 $98,668 65,295 72,550 84,158 219,754 206,042 2016 Prepaid expenses Land Buildings Accumulated depreciation-buildings Equipment 22,171 210,395 188,630 290,200 290,200 (87,060) (58,040) 326,475 224,905 (65.295) (50,785) 30,471 $1,087,858 $980,876 Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock, $1 par $ 64,903 52,236 435,300 435,300 200 232,160 3 4

Explanation / Answer

Net cash flow from operating activities Net income 53,687 Adjustments to reconcile net income to net cash provided by operating activities Depreciation expense 60,942 loss on disposal of plant assets 2,902 Decrease in accounts receivable 11608 increase in inventory -13712 Decrease in prepaid expense 8300 increase in accounts payable 12667 82,707 82,707 Net cash provided by operating activities 136,394 Cash from investing activities purchase of new plant asset -133,492 cash from sale of plant asset 11,608 Cash from sale of land 36275 Cash used by investing activities -85,609 -85,609 Net cash from financing activities Cash dividend -17,412 Cash used by financing activities -17,412 -17,412 Net increase in cash 33,373 cash at beginning of the year 65,295 cash at year end 98,668

Related Questions

Navigate

• Browse (All)
• Browse G
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.