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
Calculate the total bid if you base your calculations on the standard cost sheet assuming a cost plus 15% government contract and calculate the total bid if you base your calc
What combinations of analytical and statistical process will be applied to the data and which of these will allow me to accept or reject my hypotheses?
Articles of Partnership stipulated that losses and profits be assigned in the subsequent manner and every partner was to be attributed with interest equal to 10% of the capita
Translate the financial statements of Ching Ltd into Australian dollars in preparation for group consolidation in accordance with AASB 2' assuming that I-1K dollars are the
The company's net income for the year was $12,000 higher under variable costing than below absorption costing. Specified these facts, Find the number of units of product in
Provide a recommendation as to whether an individual should buy, sell, or hold (if they already own it) the stock of this company. Your recommendation should be supported b
Plot the date of your answer to above inthe form contribution sales graph known as profit volume graph. and to comment on the result shown and state the break- even point.
Economic slowdown puts pressure on the business and the new company is unable to service the loan to And.Andy takes possession the company's assets as secured creditor leavi