On the basis of the following data for branch co for the

Reference no: EM13609118

On the basis of the following data for Branch Co. for the year ended December 31, 2011 and the preceding year, prepare a statement of cash flows using the indirect method of reporting cash flows from operating activities.

Assume that equipment costing $125,000 was purchased for cash and the land was sold for $15,000. The stock was issued for cash and the only entries in the retained earnings account were net income of $56,000 and cash dividends declared and paid of $18,000.
Year Year
2011 2010
Cash $65,000 $ 54,000
Accounts receivable (net) 78,000 85,000
Inventories 106,500 90,000
Land -- 20,000
Equipment 495,000 370,000
Accumulated depreciation (215,000) (158,000)
$529,500 $461,000

Accounts payable (merchandise creditors) $ 53,500 $ 55,000
Common stock, $10 par 200,000 170,000
Paid-in capital in excess of par--
common stock 62,000 60,000
Retained earnings 214,000 176,000
$529,500 $461,000

Reference no: EM13609118

Questions Cloud

A charged particle with a charge-to-mass ratio of qm 57 : a charged particle with a charge-to-mass ratio of qm 5.7 108 ckg travels on a circular path that is perpendicular to a

New phone inc a diversified manufacturer has five divisions : new phone inc. a diversified manufacturer has five divisions that operated throughout the united states and costa rico.

The probability of concluding that the true mean is less : a local tennis pro-shop strings tennis rackets at the tension pounds per square inch requested by the customer.

A bond was issued for 720000 of 11 ten-year bonds for : a bond was issued for 720000 of 11 ten-year bonds for 678852 yielding an effective interest rate of 12. semi annual

On the basis of the following data for branch co for the : on the basis of the following data for branch co. for the year ended december 31 2011 and the preceding year prepare a

Calculate the total supply flow rate in m3s bthe ratio of : an air conditioning system is designed for a zone with a high dehumidification demands and humid outdoor conditions.

Dupont reports in a recent balance sheet 598 million of 525 : dupont reports in a recent balance sheet 598 million of 5.25 percent notes payable due in 2016. the companys income tax

In a certain thermal reactor fueled with partially enriched : in a certain thermal reactor fueled with partially enriched uranium 13 of the fission neutrons are absorbed in

An outside supplier has offered to make the item at 6 a : billings company has the following costs when producing 100000 unitsvariable costs 800000fixed costs 1200000an outside

User Account

All Pages