ACT 350 Module 3 Statement of Cash Flows and Balance Sheet

By April 25, 2019Academic Papers
ACT 350 Module 3 Statement of Cash Flows and Balance Sheet
 
Note . This Worksheet is in PDF format.                        
CRITICAL THINKING ASSIGNMENT 
Option #1: Statement of Cash Flows and Balance Sheet  
Lander Inc. had the following balance sheet at December 31, 2014:
 
LANDER, INC. Balance Sheet 
December 31, 2014
Cash                     $45,300
Accountspayable
$33,800
 
 
Accounts               $18,900
Bondspayable
$35,000
 
 
receivable
 
 
 
 
Investments          $25,000
Commonstock
$190,000
 
Plant assets           $78,000
Retainedearnings
$18,400
 
 
(net)
 
 
 
 
Land
$110,000
 
 
 
Total Assets
$277,200
TotalLiabilities &
Equity
$277,200
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
During 2015, the following events occurred:
 
 
  1. Lander liquidated its available-for-sale investment portfolio at a loss of $6,500.
  2. A tract of land was purchased for $31,000.
  3. An additional $20,000 in common stock was issued at par.
  4. Dividends totalling $5,000 were declared and paid to stockholders.
  5. Net income for 2009 was $29,000, including $7,000 in depreciation expense.
  6. Land was purchased through the issuance of $25,000 in additional bonds.
  7. At December 31, 2015, cash was $72,650, accounts receivable was $35,250, and accounts
payable was $32,500.
 
 
In an Excel spreadsheet:
  • Prepare a statement of cash flows for the year 2015 for Lander.
  • Prepare the balance sheet as it would appear as of December 31, 2015.
 
 
 
Any written comments must be formatted according to the                CSU-Global Guide to Writing and APA 
Requirements. Insert comments, as needed, using Excel’s “Add a Comment” function.

 

Originally posted 2017-11-26 14:33:28.

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