On the basis of the following data for nader co for 2008

Reference no: EM13482535

On the basis of the following data for Nader Co. for 2008 and the preceding year ended December 31, 2008, prepare a statement of cashflows. Use the indirect method of reporting cash flows fromoperating activities. Assume that equipment costing $125,000was purchased for cash and equipment costing $85,000 withaccumulated depreciation of $65,000 was sold for $15,000; that thestock was issued for cash; and that the only entries in theretained earnings account were net income of $51,000 and cash dividends declared of $13,000.

Year	Year
2008	2007
Cash	$100,000	$ 78,000
Accounts receivable (net)	78,000	85,000
Inventories	101,500	90,000
Equipment	410,000	370,000
Accumulated depreciation	(150,000)	(158,000)
$539,500	$465,000

Accounts payable (merchandise creditors)	$ 58,500	$ 55,000
Cash dividends payable	5,000	4,000
Common stock, $10 par	200,000	170,000
Paid-in capital in excess of par--
common stock	62,000	60,000
Retained earnings	214,000	176,000
$539,500	$465,000

Reference no: EM13482535

Questions Cloud

On the basis of the cash forecast write a brief report : a company is negotiating with the bank for a 200000 90 day12 loan effective july 1 of the current year. if the

On august 31 kravsnik company receives its bank statement : on august 31 kravsnik company receives its bank statement. the company deposits its receipts in the bank and makes all

Rand medical manufactures lithotripters lithotripsy uses : rand medical manufactures lithotripters. lithotripsy uses shock waves instead of surgery to eliminate kidney stones.

How can sales clerks employed at rare earth clothing use : rare earth clothing is a retail store specializing in womensclothing. the store has established a liberal return policy

On the basis of the following data for nader co for 2008 : on the basis of the following data for nader co. for 2008 and the preceding year ended december 31 2008 prepare a

Prepare the adjusting entries at march 31 assuming that : the ledger of piper rental agency on march 31 of the current year includes the following selected accounts before

The payments are 20500 the first year and increase by 800 : on january 1 2013 sweetwater furniture company leased office space under a 21-year operating lease agreement. the

What are the advantages and disadvantages of setting a : spruce enterprises operates a chain of lumber stores. in 2008 corporate management examined industry-level data

You compare the cancelled checks with the entries in the : the malamura company deposits all receipts in the bank and makes all payments by check. on november 30 its cash account

User Account

All Pages