+1-415-670-9189
info@expertsmind.com
Write a statement of cash flows
Course:- Cost Accounting
Reference No.:- EM132354




Assignment Help
Assignment Help >> Cost Accounting

Question:

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

FARMER COMPANY

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

LIABILITIES AND STOCKHOLDERS' EQUITY             

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            

Required:

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.




Put your comment
 
Minimize


Ask Question & Get Answers from Experts
Browse some more (Cost Accounting) Materials
Analyze accounting and reporting requirements for not-for-profit organizations - explain how fund accounting principles for nonprofit organizations affect routine revenue type
Calculate the annual fees required per child from each group, where the different groups are charged on the basis of their fair share of the total teaching time available.
Provide the revised figures in the Payoff Table below complete the evaluation for the five EMV's. Show your logic and calculations and evaluate the BatesManor dollar sales at
Complete the chart by filling in the time required to proofread financial statements and what is the percentage of the cost of proofreading the 16th financial statement to th
Formulate an appropriate investment policy statement for the endowment fund. Identify and briefly explain three major ways in which your firm’s initial asset alloca- tion deci
You are an employee of BusComm Consulting. Begun as a small scale business just a few years ago, BusComm has outsourced its payroll and tax accounting and return preparation
Discount tables for several different interest (discount) rates that are to be used in any discounting calculations are given below. Assume for questions 2-6 that Hilltop is n
The cost in $ per year and effectiveness measure in items salvaged per year for four mutually exclusive service sector. Calculate the cost effectiveness ratio for each alterna