Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN: 9781337788281
Author: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher: Cengage Learning
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Chapter 21, Problem 10E
Spreadsheet The following 2019 information is available for Payne Company:
Partial additional information: The net income for 2019 totaled $1,600. During 2019, the company sold, for $390, equipment that cost $390 and had a book value of $300. The company sold land for $200, resulting in a loss of $40. The remaining change in the Land account resulted from the purchase of land through the issuance of common stock.
Required:
Making whatever additional assumptions that are necessary, prepare a spreadsheet to support the 2019 statement of cash flows for Payne.
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Required:
Prepare the statement of cash flows of Wright Company for the year ended December 31, 2021. Present cash flows
from operating activities by the direct method. (Amounts to be deducted should be indicated with a minus sign. Enter
your answers in thousands (i.e., 10,000 should be entered as 10).)
WRIGHT COMPANY
Statement of Cash Flows
For the year ended December 31, 2021
($ in thousands)
Cash flows from operating activities:
Cash inflows:
Cash outflows:
Net cash flows from operating
activities.
Cash flows from investing activities:
Net cash flows from investing
activities
Cash flows from financing activities:
Net cash flows from financing
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Chapter 21 Solutions
Intermediate Accounting: Reporting And Analysis
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