P/s help me to answer this question. YANIK COMPANY Comparative Balance Sheets De
ID: 2497443 • Letter: P
Question
P/s help me to answer this question.
YANIK COMPANY
Comparative Balance Sheets
December 31
Assets
2014
2013
$ 100,028
$ 66,195
73,550
85,318
222,783
208,882
22,477
30,891
213,295
191,230
294,200
294,200
(88,260
)
(58,840
)
330,975
228,005
(66,195
)
(51,485
)
$1,102,853
$994,396
Liabilities and Stockholders’ Equity
$ 65,798
$ 52,956
441,300
441,300
294,200
235,360
301,555
264,780
$1,102,853
$994,396
Additional information:
Prepare a statement of cash flows for the year ended December 31, 2014, using the indirect method
YANIK COMPANY
Comparative Balance Sheets
December 31
Assets
2014
2013
Cash$ 100,028
$ 66,195
Accounts receivable73,550
85,318
Inventory222,783
208,882
Prepaid expenses22,477
30,891
Land213,295
191,230
Buildings294,200
294,200
Accumulated depreciation—buildings(88,260
)
(58,840
)
Equipment330,975
228,005
Accumulated depreciation—equipment(66,195
)
(51,485
)
Total$1,102,853
$994,396
Liabilities and Stockholders’ Equity
Accounts payable$ 65,798
$ 52,956
Bonds payable441,300
441,300
Common stock, $1 par294,200
235,360
Retained earnings301,555
264,780
Total$1,102,853
$994,396
Explanation / Answer
Answer:
YANIK COMPANY Statement of cash flow For the year Ended December 31,2014 Particulars Amount Cash flow from operating activities: Net income 54427 Adjustment to be reconcile net income to net cash provided by operating activities: Depreciation expense 61782 Loss on sale of equipment 2942 Decrease in accounts receivable 11768 Increase in merchandise inventory -13901 Decrease in Prepaid expenses 8414 Increase in accounts payable 12842 Net cash flow from operating activities 138274 Cash flow from investing activities: Purchase of equipment -135332 Sale of equipment 11768 Net cash flow from investing activities -123564 Cash flow from financing Activities: Cash Dividend paid -17652 Change in retained earnings 36775 Net cash flow from financing activities 19123 Net Increase in cash 33833 Cash at beginning of year 66195 Cash at end of year 100028Related Questions
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