Use the following excerpts from Yardley Company’s financial information. 2018 Income Statement Balance Sheets Sales $455,000 Cost of Goods Sold (221,500) Operating Expenses, other than Depreciation Expense (60,600) Depreciation Expense (21,000) Gain on Sale of Plant Assets 23,500 Net Income $175,400 Dec. 31,2018 Cash $323,450 Accounts Receivable 39,750 Inventory 31,000 Accounts Payable 17,550 Accured Liabilities 3,500 Dec. 31, 2017 Cash $133,500 Accounts Receivable 36,500 Inventory 35,000 Accounts Payable 19,550 Accured Liabilities 2,200 Additional Information: Plant assets were sold for $40,000; book value $16,500. Dividends of $23,000 were declared and paid. Prepare a statement of cash flows (indirect method) for the year 2018. Use the minus sign to indicate cash outflows, a decrease in cash or cash payments. Yardley Company Statement of Cash Flows (Indirect Method) For the Year Ended December 31, 2018 Operating Activities: $fill in the blank 2 Adjustments to Reconcile Net Income to Net Cash Flow from Operating Activities: $fill in the blank 4 fill in the blank 6 Changes in Current Assets and Liabilities: fill in the blank 8 fill in the blank 10 fill in the blank 12 fill in the blank 14 fill in the blank 15 Net Cash Flow from Operating Activities $fill in the blank 16 Cash Flow from Investing Activities: $fill in the blank 18 Net Cash Flow from Investing Activities fill in the blank 19 Cash Flow from Financing Activities: $fill in the blank 21 Net Cash Flow from Financing Activities fill in the blank 22 $fill in the blank 24 fill in the blank 26 $fill in the blank 28

Use the following excerpts from Yardley Company’s financial information. 2018 Income Statement Balance Sheets Sales $455,000 Cost of Goods Sold (221,500) Operating Expenses, other than Depreciation Expense (60,600) Depreciation Expense (21,000) Gain on Sale of Plant Assets 23,500 Net Income $175,400 Dec. 31,2018 Cash $323,450 Accounts Receivable 39,750 Inventory 31,000 Accounts Payable 17,550 Accured Liabilities 3,500 Dec. 31, 2017 Cash $133,500 Accounts Receivable 36,500 Inventory 35,000 Accounts Payable 19,550 Accured Liabilities 2,200 Additional Information: Plant assets were sold for $40,000; book value $16,500. Dividends of $23,000 were declared and paid. Prepare a statement of cash flows (indirect method) for the year 2018. Use the minus sign to indicate cash outflows, a decrease in cash or cash payments. Yardley Company Statement of Cash Flows (Indirect Method) For the Year Ended December 31, 2018 Operating Activities: $fill in the blank 2 Adjustments to Reconcile Net Income to Net Cash Flow from Operating Activities: $fill in the blank 4 fill in the blank 6 Changes in Current Assets and Liabilities: fill in the blank 8 fill in the blank 10 fill in the blank 12 fill in the blank 14 fill in the blank 15 Net Cash Flow from Operating Activities $fill in the blank 16 Cash Flow from Investing Activities: $fill in the blank 18 Net Cash Flow from Investing Activities fill in the blank 19 Cash Flow from Financing Activities: $fill in the blank 21 Net Cash Flow from Financing Activities fill in the blank 22 $fill in the blank 24 fill in the blank 26 $fill in the blank 28

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Use the following excerpts from Yardley Company’s financial information.

	2018 Income Statement	Balance Sheets
Sales	$455,000
Cost of Goods Sold	(221,500)
Operating Expenses, other than Depreciation Expense	(60,600)
Depreciation Expense	(21,000)
Gain on Sale of Plant Assets	23,500
Net Income	$175,400
		Dec. 31,2018
Cash		$323,450
Accounts Receivable		39,750
Inventory		31,000
Accounts Payable		17,550
Accured Liabilities		3,500
		Dec. 31, 2017
Cash		$133,500
Accounts Receivable		36,500
Inventory		35,000
Accounts Payable		19,550
Accured Liabilities		2,200

Additional Information:
Plant assets were sold for $40,000; book value $16,500.
Dividends of $23,000 were declared and paid.

Prepare a statement of cash flows (indirect method) for the year 2018. Use the minus sign to indicate cash outflows, a decrease in cash or cash payments.

Yardley Company
Statement of Cash Flows (Indirect Method)
For the Year Ended December 31, 2018
Operating Activities:
		$fill in the blank 2
Adjustments to Reconcile Net Income to Net Cash Flow from Operating Activities:
	$fill in the blank 4
	fill in the blank 6
Changes in Current Assets and Liabilities:
	fill in the blank 8
	fill in the blank 10
	fill in the blank 12
	fill in the blank 14	fill in the blank 15
Net Cash Flow from Operating Activities		$fill in the blank 16
Cash Flow from Investing Activities:
	$fill in the blank 18
Net Cash Flow from Investing Activities		fill in the blank 19
Cash Flow from Financing Activities:
	$fill in the blank 21
Net Cash Flow from Financing Activities		fill in the blank 22
		$fill in the blank 24
		fill in the blank 26
		$fill in the blank 28

Use the following excerpts from Yardley Company's financial information.
2018 Income
Balance
Statement
Sheets
Sales
$455,000
Cost of Goods Sold
(221,500)
Operating Expenses, other than
Depreciation Expense
(60,600)
Depreciation Expense
(21,000)
Gain on Sale of Plant Assets
23,500
Net Income
$175,400
Dec. 31,2018
Cash
$323,450
Accounts Receivable
39,750
Inventory
31,000
Accounts Payable
17,550
Accured Liabilities
3,500
Dec. 31, 2017
Cash
$133,500
Accounts Receivable
36,500
Inventory
35,000
Accounts Payable
19,550
Accured Liabilities
2,200

Operating Activities:
Adjustments to Reconcile Net Income to Net Cash Flow from Operating Activities:
Changes in Current Assets and Liabilities:
Net Cash Flow from Operating Activities
Cash Flow from Investing Activities:
Net Cash Flow from Investing Activities
Cash Flow from Financing Activities:
Net Cash Flow from Financing Activities

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