Instructions for the Microsoft Excel Templates by Rex A Schildhouse

Be advised, the template workbooks and worksheets are not protected. Overtyping any data may remove it.
Extensive detail and information is contained within the help function of Microsoft Excel and in the provided text. You should enter your name, date, instructor's name, and course into the cells at the top of the page. This information will be printed on the top of each page if the template requires more than one page. Each template is set to print with File Name, Page # of # Page(s), the print date, and the print time to assist in assembly of multiple pages. If more than one page is required by the template, manual page breaks have been set to provide consistent presentation. All of the cells have been correctly formatted for presentation and should not require any adjustment. For example, if the text requires one, two, or three significant digits in a presentation, the template has been set for that presentation in the appropriate cells. In general, the yellow highlighted cells are the cells which work and effort should be presented. These entries may include date(s), account title(s), values, memorandum appropriate to the entry, or text answers to questions. And information or data which may be required by the solution will be entered in cells with borders to help identify them. Where a yellow highlighted cell shows "Date" enter the appropriate date for that step of the challenge. This may be any date format that Microsoft Excel accepts. Some of these formats include "1/1/12", "01/01/12", and "01/01/2012." All of these will return January 01, 2012, in the format set in the template. Where a yellow highlighted cell shows "Acct Nbr" enter the appropriate account number, provided in the template and in the text for that step of the challenge. This is entry may be a "Look to" formula to another cell where that information has been provided or previously entered. Where a yellow highlighted cell shows "Account Title" enter the appropriate account title for that step of the challenge. This is a text entry and most of those cells are set for the proper indentation for that step. Frequently the chart of accounts appropriate to the challenge is provided and you can use the "look to" formula to reference the appropriate account title without typing it. Check with your instructor to see if abbreviated account titles are acceptable. For example "A/R" for Accounts Receivable, "A/P" for Accounts Payable. If your instructor is using a comparison process between workbooks for grading, these abbreviates may not be acceptable. Where a yellow highlighted cell shows titles such as "Values," "Amounts," or "Quantities" enter the appropriate numerical value for that step of the challenge. The cell is formatted for proper presentation of the entered information. If a dollar sign is appropriate, it should not be entered, Microsoft Excel will place it there through formatting. Commas and significant digits (decimals) are also set through formatting for common presentation. Since the formatting of the templates is not protected by any password, you may change any of the formatting found in the templates to meet your desires. Where a yellow highlighted cell shows titles such as "Formula" you may enter the appropriate formula or enter a numerical value appropriate for that step of the challenge. Most of the values necessary for the appropriate formula are located on the template in cells with borders or in other yellow highlighted cells. The formula may be a simple "Look to" formula, an equal sign and a cell reference, "=E27" or more complex as "=E27*5," or something similar to the time-value-of-money formula. These are addressed in the tutorial text provided for Microsoft Excel.

Where a yellow highlighted cell shows titles such as "Formula" you may enter the appropriate formula or enter a numerical value appropriate for that step of the challenge. Most of the values necessary for the appropriate formula are located on the template in cells with borders or in other yellow highlighted cells. The formula may be a simple "Look to" formula, an equal sign and a cell reference, "=E27" or more complex as "=E27*5," or something similar to the time-value-of-money formula. These are addressed in the tutorial text provided for Microsoft Excel. Where a yellow highlighted cell shows "Text" enter the appropriate text for that step of the challenge. This may be a memorandum entry for a journal entry or a lengthy text answer discussing the results of an analysis of a company's financials. These titles can simply be typed over. Where a yellow highlighted cell shows titles such as "Journal Number" or "Journ #" you should enter the appropriate number provided in the template and in the text for that step of the challenge. In general this will appear in instances such as "Record the following events in General Journal number six." The print area is defined to fit onto 8 1/2" 11" sheets in portrait or landscape mode as required. Margins are generally set to no less than 1/2" so most printers can print them without a problem. If you printer cannot accept margins less than 1" you may have to reformat the margins through Page Setup. The display may have "Freeze Pane" invoked so column titles remain visible during data entry. This can be removed by utilizing the View menu and selecting "Unfreeze Panes" under "Freeze Panes." When negative values are required, enter them by starting with a minus sign, "-". Negative values may be shown as ($400) or -$400. Negative values in formulas can be created by putting a minus sign in front of the cell reference - "=E10*-E11" will return a negative value if both cells E10 and E11 contain positive values. Microsoft Office and Microsoft Excel are products of, and copyrighted by, Microsoft Corporation, One Microsoft Way, Redmond, Washington 98052-6399

Solution Name: Date: Instructor: Course: Intermediate Accounting, 14th Edition by Kieso, Weygandt, and Warfield Primer on Using Excel in Accounting by Rex A Schildhouse
E23-3 (Preparation of Operating Activities SectionIndirect Method, Periodic Inventory) The income statement of Rodriquez Company is shown below. RODRIQUEZ COMPANY Income Statement For The Year Ended December 31, 2012 Sales $6,900,000 Cost of goods sold Beginning inventory $1,900,000 Purchases 4,400,000 Goods available for sale 6,300,000 Ending inventory 1,600,000 Cost of goods sold 4,700,000 Gross profit 2,200,000 Operating expenses Selling expenses 450,000 Administrative expenses 700,000 1,150,000 Net income $1,050,000 Additional information: 1. Accounts receivable decreased $310,000 during the year. 2. Prepaid expenses increased $170,000 during the year. 3. Accounts payable to suppliers of merchandise decreased $275,000 4. Accrued expenses payable decreased $120,000 during the year. 5. Administrative expenses include depreciation expense of $60,000

during the year.

Instructions: Prepare the operating activities section of the statement of cash flows for the year ended December 31, 2010, for Rodriquez Company, using the indirect method. RODRIQUEZ COMPANY Partial Statement of Cash Flows For The Year Ended December 31, 2012 Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operating activities: Depreciation expense $60,000 Decrease in accounts receivable 310,000 Decrease in inventory 300,000 Increase in prepaid expenses (170,000) Decrease in accounts payable (275,000) Decrease in accrued exp payable (120,000) Net cash provided by operating activities

$1,050,000

105,000 $1,155,000

153010970.xlsx.ms_office, Exercise 23-3 Solution, Page 3 of 18, 6/20/2013, 6:59 AM

Name: Date: Instructor: Course: Intermediate Accounting, 14th Edition by Kieso, Weygandt, and Warfield Primer on Using Excel in Accounting by Rex A Schildhouse
E23-3 (Preparation of Operating Activities SectionIndirect Method, Periodic Inventory) The income statement of Rodriquez Company is shown below. RODRIQUEZ COMPANY Income Statement For The Year Ended December 31, 2012 Sales $6,900,000 Cost of goods sold Beginning inventory $1,900,000 Purchases 4,400,000 Goods available for sale 6,300,000 Ending inventory 1,600,000 Cost of goods sold 4,700,000 Gross profit 2,200,000 Operating expenses Selling expenses 450,000 Administrative expenses 700,000 1,150,000 Net income $1,050,000 Additional information: 1. Accounts receivable decreased $310,000 during the year. 2. Prepaid expenses increased $170,000 during the year. 3. Accounts payable to suppliers of merchandise decreased $275,000 4. Accrued expenses payable decreased $120,000 during the year. 5. Administrative expenses include depreciation expense of $60,000

during the year.

Instructions: Prepare the operating activities section of the statement of cash flows for the year ended December 31, 2012, for Rodriquez Company, using the indirect method. RODRIQUEZ COMPANY Partial Statement of Cash Flows For The Year Ended December 31, 2012 Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operating activities: Title Amount Title Amount Title Amount Title Amount Title Amount Title Amount Net cash provided by operating activities

Amount

Formula Formula

153010970.xlsx.ms_office, Exercise 23-3, Page 4 of 18, 6/20/2013, 6:59 AM

Solution Name: Date: Instructor: Course: Intermediate Accounting, 14th Edition by Kieso, Weygandt, and Warfield Primer on Using Excel in Accounting by Rex A Schildhouse
E23-3 (Preparation of Operating Activities SectionDirect Method, Periodic Inventory) The income statement of Rodriquez Company is shown below. RODRIQUEZ COMPANY Income Statement For The Year Ended December 31, 2012 Sales $6,900,000 Cost of goods sold Beginning inventory $1,900,000 Purchases 4,400,000 Goods available for sale 6,300,000 Ending inventory 1,600,000 Cost of goods sold 4,700,000 Gross profit 2,200,000 Operating expenses Selling expenses 450,000 Administrative expenses 700,000 1,150,000 Net income $1,050,000 Additional information: 1. Accounts receivable decreased $310,000 during the year. 2. Prepaid expenses increased $170,000 during the year. 3. Accounts payable to suppliers of merchandise decreased $275,000 4. Accrued expenses payable decreased $120,000 during the year. 5. Administrative expenses include depreciation expense of $60,000

during the year.

Instructions: Prepare the operating activities section of the statement of cash flows for the year ended December 31, 2012, for Rodriquez Company, using the direct method. RODRIQUEZ COMPANY Partial Statement of Cash Flows For The Year Ended December 31, 2012 Cash flows from operating activities Cash receipts from customers (a) Cash payments To suppliers (b) $4,675,000 For operating expenses (c) 1,380,000 Net cash provided by operating activities

$7,210,000

6,055,000 $1,155,000

Computations: (a)

Cash receipts from customers Sales Add: Decrease in accounts receivable Cash receipts from customers Cash payments to suppliers Cost of goods sold Deduct: Decrease in inventories Purchases Add: Decrease in accounts payable Cash payments to suppliers Cash payments for operating expenses Operating expenses, exclusive of depreciation Add: Increase in prepaid expenses Add: Decrease in accrued expenses payable Cash payments for operating expenses

$6,900,000 310,000 $7,210,000

(b)

$4,700,000 300,000 4,400,000 275,000 $4,675,000

(c)

$1,090,000 $170,000 120,000 290,000 $1,380,000

153010970.xlsx.ms_office, Exercise 23-4 Solution, Page 5 of 18, 6/20/2013, 6:59 AM

Name: Date: Instructor: Course: Intermediate Accounting, 14th Edition by Kieso, Weygandt, and Warfield Primer on Using Excel in Accounting by Rex A Schildhouse
E23-3 (Preparation of Operating Activities SectionDirect Method, Periodic Inventory) The income statement of Rodriquez Company is shown below. RODRIQUEZ COMPANY Income Statement For The Year Ended December 31, 2012 Sales $6,900,000 Cost of goods sold Beginning inventory $1,900,000 Purchases 4,400,000 Goods available for sale 6,300,000 Ending inventory 1,600,000 Cost of goods sold 4,700,000 Gross profit 2,200,000 Operating expenses Selling expenses 450,000 Administrative expenses 700,000 1,150,000 Net income $1,050,000 Additional information: 1. Accounts receivable decreased $310,000 during the year. 2. Prepaid expenses increased $170,000 during the year. 3. Accounts payable to suppliers of merchandise decreased $275,000 4. Accrued expenses payable decreased $120,000 during the year. 5. Administrative expenses include depreciation expense of $60,000

during the year.

Instructions: Prepare the operating activities section of the statement of cash flows for the year ended December 31, 2012, for Rodriquez Company, using the direct method. RODRIQUEZ COMPANY Partial Statement of Cash Flows For The Year Ended December 31, 2012 Cash flows from operating activities Cash receipts from customers (a) Cash payments: Title (b) Title (c) Net cash provided by operating activities

Formula Formula Formula

Formula Formula

Computations: (a)

Cash receipts from customers Title Add: Title Cash receipts from customers Cash payments to suppliers Title Deduct: Title Title Add: Title Cash payments to suppliers Cash payments for operating expenses Operating expenses, exclusive of depreciation Add: Title Add: Title Cash payments for operating expenses

Amount Amount Formula

(b)

Amount Amount Formula Amount Formula

(c)

Amount Amount Amount Formula Formula

153010970.xlsx.ms_office, Exercise 23-4, Page 6 of 18, 6/20/2013, 6:59 AM

Solution Name: Date: Instructor: Course: th Intermediate Accounting, 14 Edition by Kieso, Weygandt, and Warfield Primer on Using Excel in Accounting by Rex A Schildhouse
P23-2 (SCFIndirect Method) The comparative balance sheets for Hinckley Corporation show the following information. December 31 2012 2011 Cash $33,500 $13,000 Accounts receivable 12,250 10,000 Inventory 12,000 9,000 Investments 0 3,000 Building 0 29,750 Equipment 45,000 20,000 Patent 5,000 6,250 Totals $107,750 $91,000 Allowance for doubtful accounts Accumulated depreciation on equipment Accumulated depreciation on building Accounts payable Dividends payable Notes payable, short-term (nontrade) Long-term notes payable Common stock Retained earnings Totals $3,000 2,000 0 5,000 0 3,000 31,000 43,000 20,750 $107,750 $4,500 4,500 6,000 3,000 5,000 4,000 25,000 33,000 6,000 $91,000

Additional data related to 2012 are as follows: 1. Equipment that had cost $11,000 and was 40% depreciated at time of disposal was sold for $2,500 Prepare the operating $10,000 activities section of the long-term of the statement note payable of cash was flows paid for bythe issuing year common ended December stock. 31, 2012, for Rodriquez Co 3. Cash dividends paid were $5,000 4. On January 1, 2010, the building was completely destroyed by a flood. Insurance proceeds on the building were $30,000 (net of $2,000 taxes). 5. Investments (available-for-sale) were sold at $1,700 above their cost. The company has made similar sales and investments in the past. 6. Cash of was paid for the acquisition of equipment. 7. A long-term note for $16,000 was issued for the acquisition of equipment. 8. Interest of $2,000 and income taxes of $6,500 were paid in cash.

153010970.xlsx.ms_office, Problem 23-2 Solution, Page 7 of 18, 6/20/2013, 6:59 AM

Solution Name: Date: Instructor: Course: th Instructions: Intermediate Accounting, 14 Edition by Kieso, Weygandt, and Warfield
Prepare a statement of cash flows using the indirect method. Flood damage is unusual and infrequent in that part of the country. HINCKLEY CORPORATION Statement of Cash Flows For the Year Ended December 31, 2012 Cash flows from operating activities Net income (a) Adjustments to reconcile net income to net cash provided by operating activities: Loss on sale of equipment (b) Gain from flood damage [($30,000 + $2,000) ($29,750 $6,000)] Depreciation expense (c) Patent amortization Gain on sale of investments Increase in Accts Rec (net) [($12,250$3,000)($10,000$4,500)] Increase in inventory Increase in accounts payable Net cash provided by operating activities Cash flows from investing activities Sale of investments Sale of equipment Purchase of equipment (d) Proceeds from flood damage to building Net cash provided by investing activities Cash flows from financing activities Payment of dividends Payment of short-term note payable Net cash used by financing activities Increase in cash Cash, January 1, 2012 Cash, December 31, 2012 Supplemental disclosures of cash flow information: Cash paid during the year for: Interest Income taxes: Noncash investing and financing activities Retired note payable by issuing common stock Purchased equipment by issuing note payable

$14,750

$4,100 (8,250) 1,900 1,250 (1,700) (3,750) (3,000) 2,000

(7,450) $7,300

$4,700 2,500 (20,000) 32,000 $19,200

($5,000) (1,000) ($6,000) $20,500 13,000 $33,500

$2,000 6,500

$10,000 16,000 $26,000

153010970.xlsx.ms_office, Problem 23-2 Solution, Page 8 of 18, 6/20/2013, 6:59 AM

Solution Name: Date: Instructor: Course: th Supporting Computations: Intermediate Accounting , 14 Edition by Kieso, Weygandt, and Warfield
(a) Ending retained earnings Beginning retained earnings Net income (b) Cost Accumulated depreciation (40% $11,000) Book value Proceeds from sale Loss on sale (c) Accumulated depreciation on equipment sold Decrease in accumulated depreciation Depreciation expense (d) Beginning equipment balance Cost of equipment sold Remaining balance Purchase of equipment with note Adjusted balance Ending equipment balance Purchased with cash $20,750 (6,000) $14,750 $11,000 (4,400) 6,600 (2,500) $4,100 $4,400 (2,500) $1,900 $20,000 (11,000) 9,000 16,000 25,000 (45,000) $20,000

153010970.xlsx.ms_office, Problem 23-2 Solution, Page 9 of 18, 6/20/2013, 6:59 AM

Name: Date: Instructor: Course: th Intermediate Accounting, 14 Edition by Kieso, Weygandt, and Warfield Primer on Using Excel in Accounting by Rex A Schildhouse
P23-2 (SCFIndirect Method) The comparative balance sheets for Hinckley Corporation show the following information. December 31 2012 2011 Cash $33,500 $13,000 Accounts receivable 12,250 10,000 Inventory 12,000 9,000 Investments 0 3,000 Building 0 29,750 Equipment 45,000 20,000 Patent 5,000 6,250 Totals $107,750 $91,000 Allowance for doubtful accounts Accumulated depreciation on equipment Accumulated depreciation on building Accounts payable Dividends payable Notes payable, short-term (nontrade) Long-term notes payable Common stock Retained earnings Totals $3,000 2,000 0 5,000 0 3,000 31,000 43,000 20,750 $107,750 $4,500 4,500 6,000 3,000 5,000 4,000 25,000 33,000 6,000 $91,000

Additional data related to 2012 are as follows: 1. Equipment that had cost $11,000 and was 40% depreciated at time of disposal was sold for $2,500 2. $10,000 of the long-term note payable was paid by issuing common stock. 3. Cash dividends paid were $5,000 4. On January 1, 2010, the building was completely destroyed by a flood. Insurance proceeds on the building were $30,000 (net of $2,000 taxes). 5. Investments (available-for-sale) were sold at $1,700 above their cost. The company has made similar sales and investments in the past. 6. Cash of was paid for the acquisition of equipment. 7. A long-term note for $16,000 was issued for the acquisition of equipment. 8. Interest of $2,000 and income taxes of $6,500 were paid in cash.

153010970.xlsx.ms_office, Problem 23-2, Page 10 of 18, 6/20/2013, 6:59 AM

Name: Date: Instructor: Course: th Instructions: Intermediate Accounting, 14 Edition by Kieso, Weygandt, and Warfield
Prepare a statement of cash flows using the indirect method. Flood damage is unusual and infrequent in that part of the country. HINCKLEY CORPORATION Statement of Cash Flows For the Year Ended December 31, 2012 Cash flows from operating activities Net income (a) Adjustments to reconcile net income to net cash provided by operating activities: Title Title Title Title Title Title Title Title Net cash provided by operating activities Cash flows from investing activities Title Title Title Title Net cash provided by investing activities Cash flows from financing activities Title Title Net cash used by financing activities Increase in cash Title Title Supplemental disclosures of cash flow information: Cash paid during the year for: Title Title Noncash investing and financing activities Title Title

Amount

Amount Amount Amount Amount Amount Amount Amount Amount

Formula Formula

Amount Amount Amount Amount Formula

Amount Amount Formula Amount Amount Formula

Amount Amount

Amount Amount Formula

153010970.xlsx.ms_office, Problem 23-2, Page 11 of 18, 6/20/2013, 6:59 AM

Name: Date: Instructor: Course: th Supporting Computations: Intermediate Accounting , 14 Edition by Kieso, Weygandt, and Warfield
(a) Ending retained earnings Title Net income (b) Cost Title Title Title Loss on sale (c) Accumulated depreciation on equipment sold Title Title (d) Beginning equipment balance Title Title Title Title Title Title Amount Amount Formula Amount Amount Formula Amount Formula Amount Amount Formula Amount Amount Formula Amount Formula Amount Formula

153010970.xlsx.ms_office, Problem 23-2, Page 12 of 18, 6/20/2013, 6:59 AM

Solution Name: Date: Instructor: Course: Intermediate Accounting, 14th Edition by Kieso, Weygandt, and Warfield Primer on Using Excel in Accounting by Rex A Schildhouse
P23-3 (SCFDirect Method) Mortonson Company has not yet prepared a formal statement of cash flows for the 2012 fiscal year. Comparative balance sheets as of December 31, 2011, and 2012, and a statement of income and retained earnings for the year ended December 31, 2012, are presented below

MORTONSON COMPANY Statement of Income and Retained Earnings For The Year Ended December 31, 2012 ($000 Omitted) Sales Expenses Cost of goods sold Salaries and benefits Heat, light, and power Depreciation Property taxes Patent amortization Miscellaneous expenses Interest Income before income taxes Income taxes Net income Retained earnings - January 1, 2012 Stock dividend declared and issued Retained earnings - December 31, 2012 $3,800 $1,200 725 75 80 19 25 10 30

2,164 1,636 818 818 310 1,128 600 $528

153010970.xlsx.ms_office, Problem 23-3 Solution, Page 13 of 18, 6/20/2013, 6:59 AM

Solution Name: Date: Instructor: Course: MORTONSON COMPANYand Warfield Intermediate Accounting, 14th Edition by Kieso, Weygandt,
Comparative Balance Sheet December 31 ($000 Omitted) Assets Current assets Cash U.S. Treasury notes (Available-for-sale) Accounts receivable Inventory Total current assets Long-term assets Land Buildings and equipment Accumulated depreciation Patents (less amortization) Total long-term assets Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Income taxes payable Notes payable Total current liabilities Long-term notes payable - due 2014 Total liabilities Stockholders' equity Common stock outstanding Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 2012 $333 10 780 720 1,843 150 910 (200) 105 965 $2,808 2011 $100 50 500 560 1,210 70 600 (120) 130 680 $1,890

$420 40 320 780 200 980 1,300 528 1,828 $2,808

$330 30 320 680 200 880 700 310 1,010 $1,890

153010970.xlsx.ms_office, Problem 23-3 Solution, Page 14 of 18, 6/20/2013, 6:59 AM

Solution Name: Date: Instructor: Course: Instructions: Intermediate Accounting, 14th Edition by Kieso, Weygandt, and Warfield
Prepare a statement of cash flows using the direct method. Changes in accounts receivable and in accounts payable relate to sales and cost of sales. Do not prepare a reconciliation schedule. MORTONSON COMPANY Statement of Cash Flows For The Year Ended December 31, 2012 ($000 omitted) Cash flows from operating activities Cash receipts from customers (a) Payments for merchandise (b) Salaries and benefits Heat, light, and power Property taxes Interest Miscellaneous Income taxes (c) Net cash provided by operating activities Cash flows from investing activities Sale of available-for-sale investments Purchase of buildings and equipment Purchase of land Net cash used by investing activities Increase in cash Cash, January 1, 2012 Cash, December 31, 2012 (a) Sales Deduct ending accounts receivable Add beginning accounts receivable Cash receipts (collections from customers) (b) Cost of goods sold Add ending inventory Goods available for sale Deduct beginning inventory Purchases Deduct ending accounts payable Add beginning accounts payable Cash purchases (payments for merchandise) (c) Income taxes Deduct ending taxes payables Add beginning taxes payable Income taxes (cash)

$3,520 $1,270 725 75 19 30 10 808

2,937 $583

$40 (310) (80) ($350) $233 100 $333 $3,800 (780) 3,020 500 $3,520 $1,200 720 1,920 (560) 1,360 (420) 940 330 $1,270 $818 (40) 778 30 $808

153010970.xlsx.ms_office, Problem 23-3 Solution, Page 15 of 18, 6/20/2013, 6:59 AM

Name: Date: Instructor: Course: Intermediate Accounting, 14th Edition by Kieso, Weygandt, and Warfield Primer on Using Excel in Accounting by Rex A Schildhouse
P23-3 (SCFDirect Method) Mortonson Company has not yet prepared a formal statement of cash flows for the 2012 fiscal year. Comparative balance sheets as of December 31, 2011, and 2012, and a statement of income and retained earnings for the year ended December 31, 2012, are presented below.

MORTONSON COMPANY Statement of Income and Retained Earnings For The Year Ended December 31, 2012 ($000 Omitted) Sales Expenses Cost of goods sold Salaries and benefits Heat, light, and power Depreciation Property taxes Patent amortization Miscellaneous expenses Interest Income before income taxes Income taxes Net income Retained earnings - January 1, 2012 Stock dividend declared and issued Retained earnings - December 31, 2012 $3,800 $1,200 725 75 80 19 25 10 30

2,164 1,636 818 818 310 1,128 600 $528

153010970.xlsx.ms_office, Problem 23-3, Page 16 of 18, 6/20/2013, 6:59 AM

Name: Date: Instructor: Course: MORTONSON COMPANYand Warfield Intermediate Accounting, 14th Edition by Kieso, Weygandt,
Comparative Balance Sheet December 31 ($000 Omitted) Assets Current assets Cash U.S. Treasury notes (Available-for-sale) Accounts receivable Inventory Total current assets Long-term assets Land Buildings and equipment Accumulated depreciation Patents (less amortization) Total long-term assets Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Income taxes payable Notes payable Total current liabilities Long-term notes payable - due 2014 Total liabilities Stockholders' equity Common stock outstanding Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 2012 $333 10 780 720 1,843 150 910 (200) 105 965 $2,808 2011 $100 50 500 560 1,210 70 600 (120) 130 680 $1,890

$420 40 320 780 200 980 1,300 528 1,828 $2,808

$330 30 320 680 200 880 700 310 1,010 $1,890

153010970.xlsx.ms_office, Problem 23-3, Page 17 of 18, 6/20/2013, 6:59 AM

Name: Date: Instructor: Course: Instructions: Intermediate Accounting, 14th Edition by Kieso, Weygandt, and Warfield
Prepare a statement of cash flows using the direct method. Changes in accounts receivable and in accounts payable relate to sales and cost of sales. Do not prepare a reconciliation schedule. MORTONSON COMPANY Statement of Cash Flows For The Year Ended December 31, 2012 ($000 omitted) Cash flows from operating activities Title Title Title Title Title Title Title Title Net cash provided by operating activities Cash flows from investing activities Title Title Title Net cash used by investing activities Increase in cash Title Title (a) Sales Title Add: Title Cash receipts (collections from customers) (b) Cost of goods sold Add: Title Title Deduct: Title Title Deduct: Title Add: Title Cash purchases (payments for merchandise) (c) Income taxes Title Add: Title Income taxes (cash)

Amount Amount Amount Amount Amount Amount Amount Amount

Formula Formula

Amount Amount Amount Formula Amount Amount Formula Amount Amount Formula Amount Formula Amount Amount Formula Amount Formula Amount Formula Amount Formula Amount Amount Formula Amount Formula

153010970.xlsx.ms_office, Problem 23-3, Page 18 of 18, 6/20/2013, 6:59 AM