Reference no: EM13899596
1.Refer to the information reported about Satu Company in Problem 16- 4B. In Problem 16- 4B, Satu Company, a merchandiser, recently completed its 2013 operations. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, (4) all debits to Accounts Payable reflect cash payments for inventory, (5) Other Expenses are cash expenses, and (6) any change in Income Taxes Payable reflects the accrual and cash payment of taxes. The company's balance sheets and income statement follow.
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Required: Prepare a complete statement of cash flows using a spreadsheet as in Exhibit 16A.1; report operating activities under the indirect method. Identify the debits and credits in the Analysis of Changes columns with letters that correspond to the following list of transactions and events.
a. Net income was $ 202,767.
b. Accounts receivable decreased.
c. Merchandise inventory increased. d. Accounts payable decreased. e. Income taxes payable decreased.
f. Depreciation expense was $ 15,700. g. Purchased equipment for $ 30,250 cash.
h. Issued 3,000 shares at $ 21 cash per share.
i. Declared and paid $ 60,000 of cashdividends.
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Satu company, a merchandiser recently completed
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