2020 2019 Bulldings and equlpment Accumulated depreclation–bulldings and equlpment Intangible assets Accumulated amortizatlon Investment, non-trading Inventory Prepald expenses Accounts recelvable (net) Dividend recelvable Cash €60 000 48 100 4 300 49 800 62 000 37 000 2 500 22 000 9 100 192 000 10 000 181 000 Total assets Share capital-ordinary Retained earnings Other comprehensive Income Bond payable-long-term Notes payable-bank, long-term Notes payable-bank, short-term Unearned revenue Accounts payable Interest payable Dividend payable €103 000 147 000 74 000 74 000 4 800 11 700 24 900 9 400 31 700 16 000 10 500 81 900 5 500 27 000 Total llablities and shareholders' equity Additlonal Information from the footnotes to the financlal statements reveals that - Net Income for 2020 amounts to €162 800; - For the year 2020, the company recognized depreclation of €22 000, amortization of €4 20o, and galn on asset disposal of €2 500; - Changes in carrying value on the long-term Investments are due to the change In the fair value of the portfollo and are not recognized In net income; - The company did not issue or repurchase shares. - Transactions with bond and debt holders are settled in cash. - The company's pollcy to pay cash dividend within 3 months after the end of the flscal year, - The transfer of net Income to retalned earnings and declaration of cash dividend were the only entries In the Retalned Earnings account. Based on the Information above, provide the operating activities part of KEA Corp.'s cash flow statement for 2020 using the indirect method. Use a minus sign to Indicate subtractions from net Income.
2020 2019 Bulldings and equlpment Accumulated depreclation–bulldings and equlpment Intangible assets Accumulated amortizatlon Investment, non-trading Inventory Prepald expenses Accounts recelvable (net) Dividend recelvable Cash €60 000 48 100 4 300 49 800 62 000 37 000 2 500 22 000 9 100 192 000 10 000 181 000 Total assets Share capital-ordinary Retained earnings Other comprehensive Income Bond payable-long-term Notes payable-bank, long-term Notes payable-bank, short-term Unearned revenue Accounts payable Interest payable Dividend payable €103 000 147 000 74 000 74 000 4 800 11 700 24 900 9 400 31 700 16 000 10 500 81 900 5 500 27 000 Total llablities and shareholders' equity Additlonal Information from the footnotes to the financlal statements reveals that - Net Income for 2020 amounts to €162 800; - For the year 2020, the company recognized depreclation of €22 000, amortization of €4 20o, and galn on asset disposal of €2 500; - Changes in carrying value on the long-term Investments are due to the change In the fair value of the portfollo and are not recognized In net income; - The company did not issue or repurchase shares. - Transactions with bond and debt holders are settled in cash. - The company's pollcy to pay cash dividend within 3 months after the end of the flscal year, - The transfer of net Income to retalned earnings and declaration of cash dividend were the only entries In the Retalned Earnings account. Based on the Information above, provide the operating activities part of KEA Corp.'s cash flow statement for 2020 using the indirect method. Use a minus sign to Indicate subtractions from net Income.
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter9: Metric-analysis Of Financial Statements
Section: Chapter Questions
Problem 9.23E: Unusual income statement items Assume that the amount of each of the following items is material to...
Related questions
Question
Transcribed Image Text:Corporation
Partlal Starternent of Finandal Position
20-וו
at Decamber 31, 2020
2020
2019
21-24
Bulldings and equipment
Accumulated deprecation-bulldings and equlpmet
Intanglble assets
Accumulated amortizatlon
Investment, non-trading
€60 000
62 000
Inventory
48 100
37 000
Prepald expenses
Accounts recelvable (net)
4 300
2 500
49 800
22 000
Divldend recelvable
Cash
9 100
10 000
192 000
181 000
Total assets
Share capital-ordinary
Retained earnings
Other comprehensive income
Bond payable-lang-term
Notes payable-bank, long-term
Notes payable-bank, short-term
€103 000
147 000
74 000
74 000
4 800
16 000
Unearned revenue
11 700
10 500
81 900
5 500
24 900
Accounts payable
Interest payable
Dividend payable
9 400
31 700
27 000
Total llabilities and shareholders' equlty
Additlonal Information from the footnotes to the financlal statements reveals that
- Net Income for 2020 amounts to C162 800:
For the year 2020, the company recognlzed depreclation of €22 000, amortization of €4 200, and galn on asset
disposal of €2 500;
- Changes In carrying value on the long-term Investments are due to the change In the falr value of the portfollo and
are not recognized In net income%;
- The company dld not isue or repurchase shares.
Transactions with bond and debt holders are settled In cash.
The company's pollcy to pay cash dividend within 3 months after the end of the flscal year,
The transfer of net Income to retained earnings and declaration of cash dividend were the only entrles lIn the
Retained Earnings account.
Based on the Information above, provide the operating activitles part of KEA Corp.'s cash flow
statement for 2020 using the indirect method. Use a minus slgn to Indicate subtractlons from net
income.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 1 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning