ACT 350 Module 3 Statement of Cash Flows and Balance Sheet

 

Note . This Worksheet is in PDF format.                        

CRITICAL THINKING ASSIGNMENT

Option #1: Statement of Cash Flows and Balance Sheet 

Lander Inc. had the following balance sheet at December 31, 2014:

 

LANDER, INC. Balance Sheet

December 31, 2014

Cash                     $45,300 Accountspayable $33,800
Accounts               $18,900 Bondspayable $35,000
receivable
Investments          $25,000 Commonstock $190,000
Plant assets           $78,000 Retainedearnings $18,400
(net)
Land $110,000
Total Assets $277,200 TotalLiabilities &

Equity

$277,200

 

 

During 2015, the following events occurred:

 

 

  1. Lander liquidated its available-for-sale investment portfolio at a loss of $6,500.
  2. A tract of land was purchased for $31,000.
  3. An additional $20,000 in common stock was issued at par.
  4. Dividends totalling $5,000 were declared and paid to stockholders.
  5. Net income for 2009 was $29,000, including $7,000 in depreciation expense.
  6. Land was purchased through the issuance of $25,000 in additional bonds.
  7. At December 31, 2015, cash was $72,650, accounts receivable was $35,250, and accounts

payable was $32,500.

 

 

In an Excel spreadsheet:

  • Prepare a statement of cash flows for the year 2015 for Lander.
  • Prepare the balance sheet as it would appear as of December 31, 2015.

 

 

 

Any written comments must be formatted according to the                CSU-Global Guide to Writing and APA

Requirements. Insert comments, as needed, using Excel’s “Add a Comment” function.