Write a statement of cash flows
Course:- Cost Accounting
Reference No.:- EM132354

Assignment Help
Assignment Help >> Cost Accounting


The Farmer Company's comparative balance sheets for 2010 and 2011, and additional information, are presented below.


Comparative Balance Sheets

                                                              December 31,                            December 31,

ASSETS                                                           2011                                         2010

Cash                                                             $ 14,000                                  $ 9,000

Accounts receivable                                    52,000                                    24,000

Inventory                                                       87,000                                    40,000

Equipment                                                     125,000                                 100,000

Accumulated depreciation                           (42,000)                              (34,000)

Prepaid expenses                                           4,000                                     2,000

Land                                                                      -0-                                       7,000

Building                                                             50,000                                       -0-

Total Assets                                                     $290,000                                   $148,000


Accounts payable                                           $ 25,000                                     $ 14,000

Interest payable                                                8,000                                           6,000

Taxes payable                                                  37,000                                         11,000

Note payable                                                    37,000                                         32,000

Bonds payable                                                 75,000                                         50,000

Common stock, $10 par                                  75,000                                         25,000

Retained earnings                                           33,000                                        10,000

Total Liabilities and Stockholders' Equity              $290,000                                   $148,000

Additional 2011 information:      

Net income, $31,000      

Sold land for gain of $3,000         

Paid dividends of $8,000              

Issued $50,000 stock to purchase building            


Using the indirect method, write a statement of cash flows for 2011 for Farmer Company using the form below. Include any required disclosures for noncash investing and financing transactions.

Ask Question & Get Answers from Experts
Browse some more (Cost Accounting) Materials
Bermudez Leasing Company purchased specialized equipment from Holmes Company on December 31, 2009 for $400,000. On the same date, it leased this equipment to Berry Company f
Determine the depreciation rates per mile and the amount to be credited to the accumulated depreciation section of each of the subsidiary accounts for the miles operated dur
Prepare a multiple-column cash receipts journal a multiple-column cash payments journal - record the transaction(s) for May that should be journalized in the cash receipts jou
Mark Stevens is considering opening a hobby and craft store. He would need $50000 to equip the business and another $100000 for inventories and other working capital needs.
Describe how the Polish treasurer could use a money market hedge to lock in the zloty value of the euro receivable. What is the hedged value of the euro receivable? What is
Assume Evco, Inc., has a current stock price of $50 and will pay a $2 dividend in one year; its equity cost of capital is 15%. What price must you expect Evco stock to sell
Compute Garys monthly breakeven sales in dollars. Use the contribution margin ratio approach - Computing breakeven sales and operating income or loss under different condition
In addition to the expenses listed above, the company had $450,000 of common fixed expenses which it allocated to each division based on their percentage of total service