Solution-Prepare a statement of cash flows for splish

Prepare a statement of cash flows for splish corporations

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Reference no: EM131813260

Splish Corporation's balance sheet at the end of 2016 included the following items.

Current assets (Cash $82,000)	$236,330	Current liabilities	$151,330
Land	31,550	Bonds payable	101,330
Buildings	121,330	Common stock	181,550
Equipment	91,550	Retained earnings	45,550
Accum. depr.-buildings	(31,330)		Total	$479,760
Accum. depr.-equipment	(11,000)
Patents	41,330
Total	$479,760

The following information is available for 2017.

1. Net income was $55,120.
2. Equipment (cost $21,330 and accumulated depreciation $9,330) was sold for $11,330.
3. Depreciation expense was $5,330 on the building and $10,330 on equipment.
4. Patent amortization was $2,500.
5. Current assets other than cash increased by $29,000. Current liabilities increased by $14,330.
6. An addition to the building was completed at a cost of $28,330.
7. A long-term investment (Equity) in stock was purchased for $16,000.
8. Bonds payable of $51,550 were issued.
9. Cash dividends of $30,000 were declared and paid.
10. Treasury stock was purchased at a cost of $11,000.

(a) Prepare a statement of cash flows for 2017.

Reference no: EM131813260

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Prepare a statement of cash flows for splish corporations

Reference no: EM131813260

Reference no: EM131813260

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