Exercise 13-11

The following items were gathered from Sheridan Industries’ general ledger:

Sale of marketable securities		$	14,040
Depreciation and amortization expense			23,972
Payment of cash dividends			3,863
Proceeds from disposal of equipment			829
Loss on disposal of equipment			160
Net income			26,163
Beginning Cash balance			19,710
Purchase of equipment			21,412
Decrease in Accounts Receivable			1,098
Proceeds from issuing common stock			2,351
Increase in Inventory			3,625
Increase in Accounts Payable			4,670
Ending Cash balance			64,093

Using the indirect method, construct Sheridan Industries’ statement of cash flows. (Show amounts that decrease cash flow with either a – sign, e.g. -15,000 or in parentheses, e.g. (15,000).)

Sheridan Industries Statement of Cash Flows
Net cash provided by financing activitiesNet cash provided by operating activitiesCash flows from operating activitiesCash flows from financing activitiesAdjustments to net incomeCash flows from investing activitiesNet cash used by investing activitiesChange in cashNet cash used by operating activitiesCash, beginning balanceNet cash used by financing activitiesCash, ending balanceNet cash provided by investing activities
Sale of marketable securitiesNet income / (loss)Purchase of equipmetDecrease in accounts payableProceeds from disposal of equipmentPayment of cash dividendsIncrease in accounts payableDecrease in accounts receivableLoss on disposal of equipmentProceeds from issuance of common stockIncrease in accounts receivableDepreciation and amortizationIncrease in inventoryDecrease in inventory		$
Cash flows from operating activitiesChange in cashCash, ending balanceAdjustments to net incomeCash flows from investing activitiesCash, beginning balanceCash flows from financing activities
Sale of marketable securities Decrease in inventory Decrease in accounts receivable Increase in accounts receivable Proceeds from issuance of common stock Decrease in accounts payable Proceeds from disposal of equipment Increase in accounts payable Purchase of equipmet Net income / (loss) Increase in inventory Depreciation and amortization Payment of cash dividends Loss on disposal of equipment	$
Decrease in inventory Payment of cash dividends Depreciation and amortization Increase in accounts payable Proceeds from issuance of common stock Decrease in accounts payable Net income / (loss) Sale of marketable securities Increase in inventory Increase in accounts receivable Proceeds from disposal of equipment Loss on disposal of equipment Decrease in accounts receivable Purchase of equipmet
Depreciation and amortization Payment of cash dividends Decrease in inventory Proceeds from issuance of common stock Loss on disposal of equipment Net income / (loss) Decrease in accounts payable Decrease in accounts receivable Increase in accounts payable Increase in accounts receivable Purchase of equipmet Increase in inventory Sale of marketable securities Proceeds from disposal of equipment
Sale of marketable securities Increase in accounts receivable Payment of cash dividends Increase in accounts payable Purchase of equipmet Decrease in accounts payable Net income / (loss) Proceeds from issuance of common stock Increase in inventory Depreciation and amortization Loss on disposal of equipment Decrease in inventory Decrease in accounts receivable Proceeds from disposal of equipment
Decrease in inventory Increase in accounts payable Proceeds from issuance of common stock Purchase of equipmet Decrease in accounts payable Sale of marketable securities Loss on disposal of equipment Proceeds from disposal of equipment Net income / (loss) Increase in inventory Payment of cash dividends Depreciation and amortization Decrease in accounts receivable Increase in accounts receivable
Net cash providedused by financingoperatinginvesting activities
Cash flows from investing activitiesChange in cashCash, beginning balanceCash, ending balanceCash flows from operating activitiesCash flows from financing activitiesAdjustments to net income
Purchase of equipmet Proceeds from disposal of equipment Decrease in accounts receivable Depreciation and amortization Payment of cash dividends Increase in accounts payable Increase in accounts receivable Sale of marketable securities Net income / (loss) Loss on disposal of equipment Decrease in inventory Proceeds from issuance of common stock Increase in inventory Decrease in accounts payable
Increase in inventory Depreciation and amortization Decrease in accounts payable Proceeds from disposal of equipment Net income / (loss) Decrease in inventory Increase in accounts receivable Increase in accounts payable Sale of marketable securities Purchase of equipmet Loss on disposal of equipment Payment of cash dividends Decrease in accounts receivable Proceeds from issuance of common stock
Sale of marketable securities Decrease in inventory Decrease in accounts payable Increase in accounts payable Proceeds from disposal of equipment Purchase of equipmet Loss on disposal of equipment Payment of cash dividends Net income / (loss) Increase in inventory Proceeds from issuance of common stock Depreciation and amortization Decrease in accounts receivable Increase in accounts receivable
Net cash providedused by investingoperatingfinancing activities
Cash, ending balanceAdjustments to net incomeCash flows from operating activitiesCash flows from investing activitiesCash flows from financing activitiesChange in cashCash, beginning balance
Proceeds from disposal of equipment Net income / (loss) Decrease in accounts receivable Loss on disposal of equipment Purchase of equipmet Depreciation and amortization Payment of cash dividends Increase in accounts receivable Decrease in accounts payable Sale of marketable securities Increase in inventory Proceeds from issuance of common stock Decrease in inventory Increase in accounts payable
Decrease in inventory Increase in accounts payable Decrease in accounts payable Sale of marketable securities Proceeds from disposal of equipment Depreciation and amortization Purchase of equipmet Payment of cash dividends Proceeds from issuance of common stock Loss on disposal of equipment Decrease in accounts receivable Net income / (loss) Increase in accounts receivable Increase in inventory
Net cash usedprovided by operatingfinancinginvesting activities
Cash flows from operating activitiesCash flows from investing activitiesAdjustments to net incomeChange in cashCash, ending balanceCash, beginning balanceCash flows from financing activities
Tags: accounting problem WileyPlus User generated content is uploaded by users for the purposes of learning and should be used following Studypool’s honor code & terms of service. Explanation & Answer Attached. SHERIDAN INDUSTRIES STATEMENT OF CASH FL OW FOR THE YEAR ENDED Cash flow from operating activities Net income 26163 Adjustment for; Depreciation and … Completion Status: 100% 15 Million Students Helped! Sign up to view the full answer Examine Honor Code flag Report DMCA Review Review Honor Code flag Report DMCA Anonymous Great! Studypool always delivers quality work. Studypool 4.7 Trustpilot 4.5 Sitejabber 4.4 24/7 Homework Help Stuck on a homework question? Our verified tutors can answer all questions, from basic math to advanced rocket science! Post question Similar Content I need to solve this question I need a good tutor to solve this question … Accounting article review 400 words. Using the GCU Library locate a journal article about responsibility accounting. 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Start reviewing and responding to your classmates as early in the module as possible.Grading CriteriaMaximum PointsQuality of initial posting, including fulfillment of assignment instructions16Quality of responses to classmates12Frequency of responses to classmates4Reference to supporting readings and other materials4Language and grammar4Total:401452Unread for topic M1 Assignment 2 Discussion:(52)View profile card for Lacy GavinLacy GavinTue at 9:09 PMM2 Assignment 1 DiscussionContains unread postsAssignment 1: Discussion QuestionThe management of current assets and current liabilities in the short run can lead to several challenges for the financial manager. What are some of the more common challenges or problems encountered by the firm in this regard, and what are the possible solutions? Explain your answers.By the due date assigned, respond to the discussion question. Submit your response to the Discussion Area. 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