| Ivan-Balance
Sheet-Beginning (in Bushels of Wheat) |
|||
| Assets | Liabilities and Owner's Equity | ||
| Seed | 20 | ||
| Fertilizer | 2 | ||
| Ox | 40 | ||
| Land | 100 | Baron's Equity | 162 |
| Total | 162 | Total | 162 |
| Frederick-Balance
Sheet-Beginning (in Bushels of Wheat) |
|||
| Assets | Liabilities and Owner's Equity | ||
| Seed | 10 | ||
| Fertilizer | 1 | ||
| Ox | 40 | ||
| Land | 50 | Baron's Equity | 101 |
| Total | 101 | Total | 101 |
Ivan-Income
Statement |
||
| Wheat | 243 | |
| Production Expenses | ||
| Seed | 20 | |
| Fertilizer | 2 | |
| Ox Usage | 4 | |
| Plow Usage | 3 | 29 |
| Earnings | 214 | |
| Owner Withdrawal | 20 | |
| Income to Retained Earnings | 194 | |
| Frederick-Income Statement (in Bushels of Wheat) |
||
| Wheat | 138 | |
| Production Expenses | ||
| Seed | 10 | |
| Fertilizer | 1 | |
| Ox Usage | 4 | |
| Plow Usage | 1 | 16 |
| Earnings | 122 | |
| Owner Withdrawal | 30 | |
| Income to Retained Earnings | 92 | |
| Ivan-Balance Sheet-End (in Bushels of Wheat) |
|||
| Assets | Liabilities and Owner's Equity | ||
| Seed | 223 | Liabilities (Plow) | 3 |
| Ox | 36 | Baron's Equity | |
| Land | 100 | Contributed | 162 |
| Retained | 194 | ||
| Total | 359 | Total | 359 |
| Frederick-Balance
Sheet-End (in Bushels of Wheat) |
|||
| Assets | Liabilities and Owner's Equity | ||
| Seed | 105 | ||
| Ox | 36 | Baron's Equity | |
| Plow | 2 | Contributed | 101 |
| Land | 50 | Retained | 92 |
| Total | 193 | Total | 193 |
| Frederick-Statement
of Cash Flows (in Bushels of Wheat) Indirect Method |
||
| Operating Activities | ||
| Net Income (Wheat seed) | 122 |
|
| Plus-Non Wheat Outlays | ||
| Ox Usage | 4 |
|
| Plow Usage | 1 | |
| Decrease in Fertilizer Inventory | 1 | |
| Net Cash Flow from Operations | 128 | |
| Investing Activities | ||
| Capital Expenditures (plow) | (3) | |
| Net Cash Flow from Investing Activities | (3) | |
| Financing Activities | ||
| Baron Withdrawal | (30) | |
| Net Cash Flow from Investing Activities | (30) | |
| Increase (decrease) in Wheat | 95 | |
| Wheat Beginning of Period | 10 | |
| Wheat End of Period | 105 | |
Can you create a statement cash of cash flows for Ivan? How would the liability that Ivan created with the Plowmaker affect his cash flows for the period.