Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Preparing the statement of cash flows-indirect method
The 2012 comparative balance sheet and income statement of Appleton Group, Inc., follow. Appleton had no noncash investing and financing transactions during 2012.
APPLETON GROUP, INC. Comparative Balance Sheet December 31, 2012 and 2011
2012
2011
Increase (Decrease)
Current assets:
Cash and cash equivalents
$ 9,300
$ 15,300
$ (6,000)
Accounts receivable
42,000
43,200
(1,200)
Inventories
97,100
93,700
3,400
Plant assets:
Land
41,100
16,000
25,100
Equipment, net
101,200
94,300
6,900
Total assets
290,700
$ 262,500
$ 28,200
Current liabilities:
Accounts payable
$ 25,600
$ 26,600
$ (1,000)
Accrued liabilities
24,000
22,800
1,200
Long-term liabilities:
Notes payable
46,000
62,000
(16,000)
Stockholders' equity:
Common stock
140,300
131,400
8,900
Retained earnings
54,800
19,700
35,100
Total liabilities and stockholders' equity
$ 290,700
APPLETON GROUP, INC. Income Statement Year Ended December 31, 2012
Revenues:
Sales revenue
$ 439,000
Interest revenue
11,800
Total revenues
$ 450,800
Expenses:
Cost of goods sold
$ 205,500
Salary expense
76,500
Depreciation expense
15,500
Other operating expense
49,500
Interest expense
24,300
Income tax expense
16,300
Total expenses
387,600
Net income
$ 63,200
Requirement
1. Prepare the spreadsheet for the 2012 statement of cash flows. Format cash flows from operating activities by the indirect method.
Financial Statement Analysis and Preparation
Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?
An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.
Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.
This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited
Prepare general journal entries for Goela Ltd
Prepare the journal entry to record the acquisition of the assets.
Prepare general journal entries to record the transactions, assuming use of the periodic inventory system
Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.
Explain the IASB Conceptual Framework's perspective of users and their decisions.
T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd