Intermediate Accounting Principles and Analysis, nd Edition (PDF -最后).docVIP

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Intermediate Accounting Principles and Analysis, nd Edition (PDF -最后).doc

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Intermediate Accounting Principles and Analysis, nd Edition (PDF -最后).doc

Intermediate Accounting Principles and Analysis, 2nd Edition (PDF 1100-最后) Exercises106920082007Increase(LO 6)Liabilities and stockholders’ equityBonds payable$ 49,000 $46,000 $ 3,000 Dividends payable8,000 5,000 3,000 Common stock, $1 par22,000 19,000 3,000 Additional paid-in capital9,000 3,000 6,000 Retained earnings104,000 91,000 13,000 Selected income statement information for the year ended December 31,2008Sales revenue$155,000 Depreciation33,000 Gain on sale of equipment14,500 Net income31,000 Additional information:1.During 2008, equipment costing $45,000 was sold for cash.2.Accounts receivable relate to sales of merchandise.3.During 2008, $20,000 of bonds payable were issued in exchange for property, plant, and equipment.There was no amortization of bond discount or premium.InstructionsDetermine the category (operating, investing, or financing) and the amount that should be reported in the state-ment of cash flows for the following items.1.Payments for purchase of property, plant, and equipment.2.Proceeds from the sale of equipment.3.Cash dividends paid.4.Redemption of bonds payable.EB-6(SCF Theory and Analysis of Transactions)John Lee Hooker Company is a young and growing pro-(LO 2, 3)ducer of electronic measuring instruments and technical equipment. You have been retained by Hooker to adviseit in the preparation of a statement of cash flows using the indirect method. For the fiscal year ended October31, 2008, you have obtained the following information concerning certain events and transactions of Hooker.1.The amount of reported earnings for the fiscal year was $800,000, which included a deduction for an extraordi-nary loss of $110,000 (see item 5 below).2.Depreciation expense of $315,000 was included in the income statement.3.Uncollectible accounts receivable of $40,000 were written off against the allowance for doubtful accounts.Also, $51,000 of bad debt expense was included in determining income for the fiscal year, and the sameamount was added to the a