Evaluate the statement of cash flows

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Reference no: EM132185

Question:

The information given below, Evaluate the statement of cash flows for the Decker Uniform Co.

Decker Uniform Co.
Comparative Balance Sheet
For the Year Ended December 31, 2012

                                                                 2012                    2011
Assets
Cash                                                           140,000               160,000
Accounts Receivables                                        400,000               380,000
Inventory                                                        480,000               420,000
Fixed Assets (net of accumulated Depreciation) 1,860,000            1,720,000
Less: Accumulated Depreciation                        (1,000,000)         (900,000)
Total                                                             1,880,000            1,780,000

Liabilities & Owner's Equity

Accounts Payable                                             240,000                260,000
Accrued expense                                             120,000                100,000
Bonds Payable                                               780,000                720,000
Capital Stock                                                 420,000                420,000
Retained Earnings                                           320,000               280,000
Total                                                               1,880,000            1,780,000

Additional Information:

1. Total income for the year amounted to $60,000, and cash dividends were declared and paid in the amount of $20,000.
2. Decker Uniform Co.'s only noncash expense was depreciation Expense which totaled $100,000.
3. The company purchased plant assets for $140,000.
4. Bonds payable in the amount of $60,000 were issued during the year.

Reference no: EM132185

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