Excel Worksheet needs to be filled out and Cash Flow needs to be done on Sheet3 of the Excel File.

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XngObbxvr

Business Finance

Description

The first sheet in the Excel Doc. needs to have two columns filled out. Then on the blank Sheet3 a cash flow needs to be done using the information on the first and second sheets.

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Ryan Corporation Comparative Balance Sheet Assets Cash Accounts receivable Inventories Prepaid expenses Investments-L/T Plant assets Accumulated depreciation Total Assets 12/31/15 12/31/14 46,000 47,000 144,000 1,000 115,000 715,000 (103,000) 965,000 15,000 55,000 110,000 5,000 127,000 505,000 (68,000) 749,000 50,000 12,000 3,000 295,000 360,000 43,000 9,000 5,000 245,000 302,000 276,000 189,000 140,000 605,000 200,000 115,000 132,000 447,000 965,000 749,000 Liabilities Accounts payable Accrued expenses Income taxes payable Bonds payable Total Liabilities Stockholders' Equity Common stock, $5 par Addit. paid in capital Retained earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity Change Increase/ Account (Decrease) Type Ryan Corporation Income Statement For the Year Ended December 31, 2015 Sales revenue Cost of goods sold Gross profit 698,000 (520,000) 178,000 Operating expenses: Depreciation expense Other operating expenses Income from operations Other income (expense): Gain on sale of investments Loss on sale of plant assets Interest expense Interest income Income before income tax Income tax expense Net income (37,000) (110,000) 31,000 12,000 (3,000) (23,000) 6,000 23,000 (7,000) 16,000 The following additional information was taken from the records: 1. 2. 3. 4. 5. 6. 7. 8. Purchased investments in the amount of $78,000. Sold investments classified as long-term for $102,000. These investments cost $90,000. Purchased plant assets in the amount of $120,000. Sold plant assets that cost $10,000 with accumulated depreciation of $2,000 for $5,000. Issued $100,000 of bonds at face value in a noncash exchange for plant assets. Repaid $50,000 of bonds at face value at maturity. Issued 15,200 shares of $5 par value common stock for $150,000. Paid cash dividends in the amount of $8,000. Instructions: a. Prepare a statement of cash flows using the indirect method.
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Explanation & Answer

Attached.

Ryan Corporation
Comparative Balance Sheet
Assets
Cash
Accounts receivable
Inventories
Prepaid expenses
Investments-L/T
Plant assets
Accumulated depreciation
Total Assets

12/31/15
46.000
47.000
144.000
1.000
115.000
715.000
(103.000)
965.000

12/31/14
15.000
55.000
110.000
5.000
127.000
505.000
(68.000)
749.000

Liabilities
Accounts payable
Accrued expenses
Income taxes payable
Bonds payable
Total Liabilities

50.000
12.000
3.000
295.000
360.000

43.000
9.000
5.000
245.000
302.000

Stockholders' Equity
Common stock, $5 par
Addit. paid in capital
Retained earnings
Total Stockholders' Equity

276.000
189.000
140.000
605.000

200.000
115.000
132.000
447.000
...


Anonymous
Really great stuff, couldn't ask for more.

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