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Act 350 Module 3 Statement of Cash Flows and Balance Sheet

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ACT 350 Module 3 Statement of Cash Flows and Balance Sheet

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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.

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