Prepare statement of cash flows for senoro

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Problem - Prepare Statement of Cash Flows for Senoro Co. for period ending Dec 31

Comparative Balance Sheet

Assets

2011

2010

Cash

316000

169000

Accounts Receivable

80000

66000

Inventory

150000

135000

Prepaid Insurance

6000

12000

Buildings

250000

200000

Equipment

550000

450000

Accumulated Depreciation

(80000)

(110000)


1272000

532000

 

Liabilities and Stockholders Equity

2011

2010

Accounts Payable

22000

12000

Bonds Payable

100000

100000

Common Stock (1$ par)

700000

550000

Retained Earnings

450000

260000

Additional information:

1. Net income for 2011 is $215000.

2. Depreciation Expense for 2011 is $30000.

3. Senoro sold equipment which cost 75000 and had accumulated depreciation at 25000 cash. The sale resulted in a 10000 gain.

4. Purchase building for 50000 cash.

5. Purchase equipment for 175000 cash.

6. Issued $1 par Common Stock for 150000 cash.

7. Paid Cash Dividends in 2011 of 25000.

Reference no: EM132019963

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