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
Outline any ethical issues involved in Mr Smith taking the trip. Relate any ethical issues directly to the facts of the business case and outline any benefits to Practical S
Determine the cost incurred by Talbot Partners compared to the benchmark cost - talbot Partners is planning a process improvement initiative aimed at reducing scheduling confl
Determine the company's predetermined overhead rate using the direct labor cost as the single cost driver and determine the full product costs and selling prices of 1 pound of
What are the advantages and disadvantages of a stable inventory policy for a company that has greatly fluctuating sales during the year and what type of production process l
Evaluate that the degree of operating leverage is 2.90. The output rises to 78,000 units - Find what will the percentage change in operating cash flow ?
Illustrate the link between Forensic Accounting and Professional Auditing citing the relevance of the Fundamental Principles and the Specific Guidance Statements of Auditing
Consider how the amounts would differ if Bainbridge were to borrow the $100,000 at different interest rates and time periods. The results of the original data (option 1) hav
What is Charless basis in his stock and debt at the end of the year and what is Charles's basis in his stock and debt at the end of the year if the corporation reports losses