Cash $35,000 $32,400 33,200 29,800 31,000 47,200 100,400 95,400 4,600 5,100 248,
ID: 2396789 • Letter: C
Question
Cash
$35,000
$32,400
33,200
29,800
31,000
47,200
100,400
95,400
4,600
5,100
248,100
376,800
141,100
173,700
136,600
152,000
4,300
2,700
20,500
61,000
$754,800
$976,100
$1,300
$1,100
16,600
15,100
25,200
15,600
20,900
29,100
5,200
4,500
44,800
20,000
49,500
40,000
9,100
7,500
44,600
65,200
537,600
778,000
$754,800
$976,100
Additional information:
Determine what amounts Novak should report in its statement of cash flows for the year ended December 31, 2017, for the following items.
Cash paid for interest?
Cash
$35,000
$32,400
Accounts receivable33,200
29,800
Inventory31,000
47,200
Property, plant, & equipment100,400
95,400
Unamortized bond discount4,600
5,100
Cost of goods sold248,100
376,800
Selling expenses141,100
173,700
General and administrative expenses136,600
152,000
Interest expense4,300
2,700
Income tax expense20,500
61,000
$754,800
$976,100
Credits Allowance for doubtful accounts$1,300
$1,100
Accumulated depreciation—plant assets16,600
15,100
Accounts payable25,200
15,600
Income taxes payable20,900
29,100
Deferred tax liability5,200
4,500
8% callable bonds payable44,800
20,000
Common stock49,500
40,000
Paid-in capital in excess of par9,100
7,500
Retained earnings44,600
65,200
Sales revenue537,600
778,000
$754,800
$976,100
Explanation / Answer
interest expense 4,300 Deduct:Decrease in unamortized bond discount (5,100-4,600) 500 Cash paid for interest 3800