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
This question is from Essentials of Corporate Finance 8th Edtion. Please don't copy & paste answers that have previously been posted for the 7th edition as the figures have
If the selling price is set at $12.00, Williams forecasts that first-year sales would increase to 19,000 units. Which pricing strategy ($16.00 or $12.00) would result in the
What are the expected costs of investigating and of not investigating? Should the operation be investigated? Why or why not? What is the indifference probability that the o
Calaveras Tire exchanged machinery for two pickup trucks. The book value and fair value of the machinery were $20,000 (original cost of $65,000 less accumulated depreciation
Comparison of alternative joint cost allocation methods, further-processing decision, chocolate products. The Chocolate Factory manufactures and distributes chocolate products
There was one job, costing $19,445, that was unfinished as of the end of 2014. -There were no unfinished or finished jobs at the beginning of 2014. What was Cost of Goods Sold
Marshall Company's GWhiz calculator sells for $40. Variable costs per unit are estimated to be $26. What are the contribution margin per unit and the contribution margin rat
List several overhead costs, or costs not applicable to a particular department, and explain how theĀ  existence of such costs (sometimes called common costs orjoint costs) c