Prepare a cash flow statement using the indirect method

Assignment Help Financial Accounting
Reference no: EM131816380

Anderson Company uses the indirect method of preparing the Statement of Cash Flows and reports the following comparative balance sheet information. As customary, the most recent data is in the first column.

 

 

2012

12-31-2011

Balance Sheets

12-31

 

$         E

0.000 0.000 0.000 5.000)

$ 20.000

134.000

105.000

27.000

Cash

Inventory

1E

 

 

Equipment

 

Accumulated depreciation

(2

 

 

5.000

$ 232.000

 

2E

 

$ 75.000

180.000 20.000 10.000

$ 96.000

110.000

19,000

7.000

Accounts payable

Bonds payable (due in 7 years.) Common stock

Retained earnings

 

$        285.000

$      232,000

Additional Information:
Net income for 2012 was $6,000.
No equipment was disposed of during 2012.

Required:
Prepare a Cash Flow Statement using the indirect method.

Reference no: EM131816380

Questions Cloud

Number of annuity payments : Number of Annuity Payments? Phoebe realizes that she has charged too much on her credit card and has racked up $6,000 in debt.
Compute the number of units sold : Compute the number of units that would have to be sold in 2014 to reach the stockholder's desired profit level
Calculate the labor productivity for each event : Calculate the labor productivity for each event. For which event was the labor productivity higher?
Journalize the summary entry to record the direct materials : Question - Entries for factory costs and jobs completed. Journalize the summary entry to record the direct and indirect materials used for July
Prepare a cash flow statement using the indirect method : Prepare a Cash Flow Statement using the indirect method and the most recent data is in the first column
Was this a paired or a two-sample study : a. Was this a paired or a two-sample study? b. Was this an observational study or an experiment?
What the employee makes posts on a personal facebook page : What if the employee makes posts on a personal facebook page that might reflect poorly on employer? Should the employee be held liable for such personal posts?
Boozy bees may offer clues about pickled people : "Boozy Bees May Offer Clues About Pickled People" describes a study in which bees were give various amounts of alcohol, while some bees were given plain
What career opportunities are available as a cma : What career opportunities are available as a CMA, What career opportunities are available as a CPA

Reviews

Write a Review

Financial Accounting Questions & Answers

  How to assess financial accounting standards

Assess financial accounting standards as they relate to presentation and disclosure in general purpose financial statements.

  What is necessity of removing this amortization

the amortization expense entry recorded during the year is eliminated on a consolidation worksheet as a component of entry I. what is the necessity of removing this amortization?

  Break-even point in unit sales using the equation method

Liman Corporation has a single product whose selling price is $140 and whose variable expense is $60 per unit. The company’s monthly fixed expense is $40,000. Compute for the company’s break-even point in unit sales using the equation method.

  How you recommend handling the situation

One of your employees complained not about the remark about religion, but that the emails were partisan against the members of their political party. Your boss has asked you how you recommend handling the situation.

  Information is available for the hd sales company

budget information is available for the HD Sales Company for January

  Statement of cash flows under financing activities

Which of the following items is reported on the statement of cash flows under financing activities? Stock split. Declaration of a stock dividend. Payment of a stock dividend. Payment of a cash dividend. Declaration of a cash dividend.

  Prepare adjusted trial balance after considering adjustments

Deborah Consultants had the following balances before passing adjusting entries in the books on December 31, 2015. Cash $6,000 Deborah, Withdrawals $3,000 Accounts Receivable 2,000 Service Revenue 10,600 Office Supplies 1,800 Salaries Expense 4,000. ..

  What are the characteristics of a stock award plan

What are the characteristics of a stock award plan? Is the stock restricted? What rights does the employee have? What generally happens when the employees leave the company?

  Calculate the standard amount of contribution margin

K&J Web Designs creates Web sites for businesses. K&J has a basic Web site creation package that it offers for a flat fee of $730. This package includes everything that a business would need to have a simple but functional Web site built. K&J estimat..

  What nominal and effective rates

Anita Moola borrows $5000 from the Shark Loan Company to pay her college expenses for the semester. She must repay the loan in six $1000 end–of-month payments over the next ½ year. Determine the interest rate that she is being charged per month (to t..

  Calculate the present value

Using a present value table (Table 6-4 and Table 6-5), calculate the present value for the following: (Use appropriate factor(s) from the tables provided.) A car down payment of $30,000 that will be required in six years, assuming an interest rate of..

  Types of funds and taxes in government accounting and

types of funds and taxes in government accounting and operations.assume that the city of ft. smith maintains its books

Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd