Demonstration_Problem_for_Chapter_12_solution

Demonstration_Problem_for_Chapter_12_solution -...

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Demonstration Problem 12-1 Solution, part a. T-Accounts T-Accounts Cash Accounts Payable Common Stock Bal. 2,000 (b3) 56,000 6,000 Bal. 18,000 Bal. Operating Activities 58,000 (b2) 7,000 (g1) (a2) 97,000 56,000 (b3) 8,000 Bal. 25,000 Bal. 19,000 (c2) Investing Activities Salaries Payable Retained Earnings (d2) 4,000 9,000 (d3) (c2) 19,000 9,000 Bal. (b1) 62,000 7,000 Bal. 14,000 (e1) 14,000 (c1) (c1) 14,000 98,000 (a1) 4,000 Bal. (d1) 10,000 3,000 (d2) Financing Activities (h1) 5,000 (g1) 7,000 6,000 (f1) Notes Payable 17,000 Bal. 5,000 (h1) (f1) 6,000 20,000 Bal. Bal. 1,000 14,000 Bal. Accounts Receivable Bal. 8,000 97,000 (a2) (a1) 98,000 Bal. 9,000 Merchandise Inventory Bal. 20,000 62,000 (b1) (b2) 58,000 Bal. 16,000 Equipment Bal. 27,000 6,000 (d2) (d3) 9,000 Bal. 30,000 Accumulated Dep. (d2) 5,000 12,000 Bal. 10,000 (d1)
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17,000 Bal. Land Bal. 15,000 (e1) 14,000 Bal. 29,000
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Demonstration Problem 12-1 Solution, part a. Statement of Cash Flows, Direct Method Hunt Company Statement of Cash Flows For the Year Ended December 31, 2004 Cash Flows from Operating Activities Cash Inflow from Revenue $97,000 Cash Outflow for Inventory (56,000) Cash Outflow for Salaries Expense (19,000) ────── Net Cash Inflow from Operating Activities $ 22,000 Cash Flows from Investing Activities Cash Inflow from Equipment Sale $ 4,000
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