(e) Assets = Liabilities + Stockholders' Equity
$190,000 = $65,000 + (e)
(e) = $125,000 (End. tot. assets – End. tot. liab.)
(f) Beginning + Revenues – Expenses – Dividends = Ending
Stockholders' Stockholders'
Equity Equity
$70,000 + (f) – $80,000 – $5,000 = $125,000(e)
(f) = $140,000 (End. stock. equity + Div. + Exp. – Beg. stock. equity)
Ex. 215
This information is for Campo Corporation for the year ended December 31, 2022.
Cash received from lenders $20,000
Cash received from customers 65,000
Cash paid for new equipment 30,000
Cash dividends paid 9,000
Cash paid to suppliers 28,000
Cash balance 1/1/22 12,000
Instructions
Prepare the 2022 statement of cash flows for Campo Corporation.
Ans: N/A, LO: 3, Bloom: AP, Difficulty: Medium, Min: 10, AACSB: Analytic, AICPA BB: Legal/Regulatory Perspective, AICPA FC: Reporting, AICPA PC: Problem Solving, IMA: Reporting
Solution 215
CAMPO CORPORATION
Statement of Cash Flows