Solution-What would a statement of cash flows look like

What would a statement of cash flows look like

Reference no: EM133189090

Question - In 2021, an accountant for Richard Co inadvertently deleted data related to the financial statements. The following information was able to be retrieved

Account	12/31/2021	12/31/2020
Cash	100,000.00	150,000.00
Accounts Receivable	35,000.00	?
Property Plant and Equipment	100,000.00	200,000.00
Goodwill	80,000.00	-
Accounts Payable	?	135,000.00
Long Term Debt	100,000.00	200,000.00
Common Stock	100,000.00	20,000.00
Retained Earnings	100,000.00	10,000.00

1. All balances were normal.

2. No other accounts were presented.

3. Dividends were issued during the period for 20,000

4. After recording $20,000 in depreciation for the year, a $10,000 gain was noted when certain property was sold

5. The Goodwill was acquired through issuance of Common Stock

Required - What would a Statement of Cash Flows look like (using Indirect Method) for 2021?

Reference no: EM133189090

Questions Cloud

What is the meaning of issuance of common shares : What is the meaning of issuance of common shares? How does this dilute share price for investors? What does this mean for a companies such as Bed Bath

What is your taxable income and tax liability : What is your taxable income and tax liability based on the following information - Salaries - $120,000 and Interest income - $10,000

What information will need to develop the funding request : What information will be needed to develop the funding request, How do you see the information for the funding request being researched and developed

What audit opinion is appropriate given the notes : Cyprus did not have any issues when it came to its independence on the audit engagement. What audit opinion is appropriate given the notes

What would a statement of cash flows look like : After recording $20,000 in depreciation for the year, a $10,000 gain was noted when certain property was sold. What would a Statement of Cash Flows look like

Locate a thing that will represent you as a customs agent : Locate a thing that will represent you as a customs agent and gather information on shipping costs

What is the company''s days in inventory for year three : Question - The Mullens Company reported the following: What is the company's days in inventory for Year 3

What is its current ratio after the transaction is recorded : If the company purchased $600 of equipment, what is its current ratio after the transaction is recorded

What is the balance in the treasury stock account : Assuming that the company uses the cost method, what is the balance in the treasury stock account if the company recently reissued 10,000 shares

User Account

All Pages

What would a statement of cash flows look like

Reference no: EM133189090

Reference no: EM133189090

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How and why standard costs are used in product costing

What amount if any would not be covered by his insurance

Determine the Total Medicare Tax

Explain how to create bad debts expense account

What are the principles of distributive justice and explain

Prepare a list of customers and prove the agreement

Evaluate the results of the audit procures

Find what is the initial measurement of the investment

Describe the due diligence procedures

Find the optimal product compositions

Prepare pharoahs november entry

How much is the true cost of the inventory destroyed

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT