Find a statement of cash flows

Assignment Help Cost Accounting
Reference no: EM139691

Prepare a statement of cash flows using the indirect method for the Windsor Corp for the year 2008.

Increase

(Decrease)

 

                         Cash                                                                                       132,000

                        Marketable Securities                                                                        (121,000)

                        Account Receivable                                                                   83,200

                        Allowance for Doubtful Accounts                                              13,300

                        Inventory                                                                                    74,200

                        Prepaid Expense                                                                     (17,500)

                        Investment In SAS, Inc                                                          (20,000)

                        Plant and Equipment                                                              210,000

                        Accumulated Depreciation                                                     130,000

                        Deferred Tax Assets                                                                (80,000)

                        Account Payable                                                                     (80,700)

                        Accrued Liabilities                                                                  (74,000

                        8% Bond Liability                                                                    80,000

                        Common Stock and Additional Paid in Capital                       290,000

                        Retained Earnings                                                                   (98,000)

 

Analysis of the Retained Earnings

Retained Earnings December 31, 2007                                              1,360,000

Add: Net Income                                                                                    327,000

Deduct: Cash Dividends                                                                         185,000

              Stock Dividends                                                                        240,000       

Retained Earnings- Unappropriate, December 31, 2008                   1,262,000       

Additional Information:

A) On January 2 , 2008 marketable securities (available for -sale ) costing $121,000 were sold for $ 155,000

B) The company paid a cash dividend on February 1, 2008.

C) Account receivable of $16,200 and 19,400 were considered uncollectible and written-off in 2008 and 2007, respectively.

D) Major repairs of $33,000 to the equipment were debited to accumulated depreciation during the year. No assets were retired during 2008.

E) Windsor owns 20% of SAS, Inc. and accounts for their investment using the equity method. SAS paid no dividends during the year and had a net loss of $100,000.

F) During the year, employees exercise 2,000 stock options each having an exercise price of $ 25 a share. The DTA decrease reflects tax benefits the Company realized upon the exercise of the options.

G) At January 1, 2008, the cash balance was $166,000. Interest and tax expense were $30,000 and $75,000, respectively.

Reference no: EM139691

Questions Cloud

Computation of after-tax cost of debt : Computation of after-tax cost of debt is planning to place privately with a large insurance company
Issue fits into the field of sociology : Explain how your issue fits into the field of sociology. Find out the sociological theories and terminology from the text which apply to your social issue.
Job characteristics model : Give an example that shows how the individual components may be used to improve the organization and work of the staff.
Fraudulent financial reporting-specific accounting principle : Describe the areas in which the Adelphia communications engaged in fraudulent financial reporting and the circumstances that led to this. Evaluate the specific accounting principles (GAAP).
Find a statement of cash flows : Find a statement of cash flows using the indirect method for the Windsor Corp for the year 2008 - Show the Analysis of the Retained Earnings
Computation of after-tax cost of preferred stock : Computation of after-tax cost of preferred stock and which is planning to sell $10 million of $4.50 cumulative preferred stock to the public at a price of $48 a share
Investigation of financial position of sales department : Obtain a detailed report which is based on an intensive investigation of the financial position of sales department, production department and research and development department.
Various methodologies for sociological research : Assess the various methodologies for sociological research.
Evaluate the amounts for - cash received from customers : Had cash flow statement been prepared using the direct method, Evaluate the amounts for? Cash received from Customers.

Reviews

Write a Review

Cost Accounting Questions & Answers

  Cost accounting assignment

Evaluate Method of measuring costs associated with production, budgeting process, normal job-order costing system , master budget, cycle time.

  Prepare the journal entries

Prepare the journal entries to record the bond issue and interest expense.

  Advise as to the liability of all the parties

Write a report on given case study and Advise as to the liability of ALL the parties both under common law and the Corporations Law.

  Prepare revenues budget

Prepare Revenues budget and Production budget in units

  Effect of exchange rate changes on cash and cash

Effect of exchange rate changes on cash and cash

  Corporate governance

You are to reflect on how this case of China Sky relates to what the arguments for and against allowing audit firm partners and/or employees to join audit committees.

  Cost-benefit analysis

A cost-benefit analysis of electronic medical records in primary care

  Non-annual interest rates and annuities

Theory of Interest- Non-annual interest rates and annuities

  Job costing in service organizations

How is job costing in service organizations different from job costing in manufacturing environments?

  Accounting for bad debt expense

Accounting for bad debt expense

  Accounting and partnership problems

Accounting and Partnership problems

  Development of relevant cash flows

Development of relevant cash flows - Cost estimating and financial analysis

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd