Chapter 12 Statement of Cash Flows 1 Reebok International Ltd is a global company that designs and markets sports and fitness products including footwear apparel and accessories Some of the items included in its recent annual consolidated statement of cash flows presented using the indirect method are listed here Indicate whether each item is disclosed in the Operating Activities O Investing Activities I or Financing Activities F section of the statement or NA if the item does not appear on the statement Note This is the exact wording used on the actual statement 1 Dividends paid 2 Repayments of long term debt 3 Depreciation and amortization 4 Proceeds from issuance of common stock to 5 employees Change in Accounts payable and accrued expenses 6 Cash collections from customers 7 Net repayments of notes payable to banks 8 Net income 9 Payments to acquire property and equipment 10 Change in Inventory 2 Hewlett Packard is a leading manufacturer of computer equipment for the business and home markets For each of the following recent transactions indicate whether net cash inflows outflows from operating activities NCFO investing activities NCFI or financing activities NCFF are affected and whether the effect is an inflow or outflow Hint Determine the journal entry recorded for the transaction The transaction affects net cash flows if and only if the account Cash is affected Select NE if there is no effect 1 2 3 4 5 6 7 8 9 10 1 3 The following information pertains to Peak Heights Company Present the operating activities section of the statement of cash flows for Peak Heights Company using the indirect method PEAK HEIGHTS COMPANY Statement of Cash Flows Partial Cash flows from operating activities 4 Time Warner Inc is a leading media and entertainment company with businesses in television networks filmed entertainment and publishing The company s 2011 annual report contained the following information dollars in millions Based on this information compute cash flow from operating activities using the indirect method TIME WARNER INC COMPANY Statement of Cash Flows Partial Cash flows from operating activities 2 5 Oering s Furniture Corporation is a Virginia based manufacturer of furniture In a recent year it reported the following activities OERING S FURNITURE CORPORATION Statement of Cash Flows Partial Cash flows from investing activities 3 6 Sharp Screen Films Inc is developing its annual financial statements at December 31 2015 The statements are complete except for the statement of cash flows The completed comparative balance sheets and income statement are summarized as follows Additional Data a Bought equipment for cash 48 900 b Paid 14 700 on the long term note payable c Issued new shares of stock for 38 050 cash d Dividends of 650 were declared and paid e Other expenses all relate to wages f Accounts payable includes only inventory purchases made on credit Prepare the statement of cash flows using the indirect method for the year ended December 31 2015 SHARP SCREEN FILMS INC Statement of Cash Flows For the Year Ended December 31 2015 Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities Net cash provided by operating activities Cash flows from financing activities 4 7 XS Supply Company is developing its annual financial statements at December 31 2014 The statements are complete except for the statement of cash flows The completed comparative balance sheets and income statement are summarized Additional data a Bought equipment for cash 31 000 Sold equipment with original cost of 10 000 accumulated depreciation of 7 000 for 4 000 cash b Paid 6 000 on the long term note payable c Issued new shares of stock for 16 000 cash d No dividends were declared or paid e Other expenses included depreciation 12 000 wages 13 000 taxes 6 000 and other 7 800 f Accounts payable includes only inventory purchases made on credit Because there are no liability accounts relating to taxes or other expenses assume that these expenses were fully paid in cash Prepare the statement of cash flows for the year ended December 31 2014 using the indirect method XS SUPPLY COMPANY Statement of Cash Flows For the Year Ended December 31 2014 Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities Cash flows from investing activities Net cash used in investing activities 5 Chapter 12 Statement of Cash Flows 1 Reebok International Ltd is a global company that designs and markets sports and fitness products including footwear apparel and accessories Some of the items included in its recent annual consolidated statement of cash flows presented using the indirect method are listed here Indicate whether each item is disclosed in the Operating Activities O Investing Activities I or Financing Activities F section of the statement or NA if the item does not appear on the statement Note This is the exact wording used on the actual statement 1 Dividends paid 2 Repayments of long term debt 3 Depreciation and amortization 4 Proceeds from issuance of common stock to F F O F 5 employees Change in Accounts payable and accrued expenses 6 Cash collections from customers 7 Net repayments of notes payable to banks 8 Net income 9 Payments to acquire property and equipment 10 Change in Inventory O NA F O I O 2 Hewlett Packard is a leading manufacturer of computer equipment for the business and home markets For each of the following recent transactions indicate whether net cash inflows outflows from operating activities NCFO investing activities NCFI or financing activities NCFF are affected and whether the effect is an inflow or outflow Hint Determine the journal entry recorded for the transaction The transaction affects net cash flows if and only if the account Cash is affected Select NE if there is no effect 1 Purchased raw materials inventory on account 2 Prepaid rent for the following period NCFO 3 Purchased new equipment by signing a three year 4 Recorded an adjusting entry for expiration of a 5 Recorded and paid income taxes to the federal note prepaid expense government 6 Purchased investment securities for cash 7 Issued common stock for cash 8 Collected payments on account from customers 9 Sold equipment for cash equal to its net book value 10 Issued long term debt for cash 3 The following information pertains to Peak Heights Company NE NE NE NCFO NCFI NCFF NCFO NCFI NCFF Present the operating activities
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