Prepare a statement of cash flows for the year ended

Assignment Help Accounting Basics
Reference no: EM131145217

The comparative balance sheets for Vanco Company as of December 31 are presented below.

Additional information:

1. Operating expenses include depreciation expense of $42,000.

2. Land was sold for cash at book value.

3. Cash dividends of $12,000 were paid.

4. Net income for 2012 was $37,000.

5. Equipment was purchased for $92,000 cash. In addition, equipment costing $22,000 with a book value of $10,000 was sold for $8,000 cash.

6. 40,000 shares of $1 par value common stock were issued in exchange for land with a fair value of $40,000.

Instructions

Prepare a statement of cash flows for the year ended December 31, 2012, using the indirect method.  

Reference no: EM131145217

Questions Cloud

Differences between statistical and judgmental technique : What are ways that the organization can ensure that KSAO deficiencies do not occur in its workforce? 2. What are the types of experiences, especially staffing-related ones, that an organization will be likely to have if it does not engage in HR and s..
The confederate flag does not promote hate crimes : Violent video games contributes to youth and teenage violent crimes.  The Confederate Flag does not promote hate crimes in the society we live in today. Do you agree or disagree that social media is the cause of most youth and teens deaths that occur..
Do you think the interest on payday loans is too high : Do you think the interest on payday loans is too high or just right? Should Christians charge poor people interest on loans?
Explore the appropriate type of market structure : Determine the appropriate type of market structure for the situation in question. Cite at least four defining characteristics that have helped you reach this decision regarding the appropriateness of the chosen structure.
Prepare a statement of cash flows for the year ended : Prepare a statement of cash flows for the year ended December 31, 2012, using the indirect method.
Discuss six key inputs into our lives from biodiversity : Assuming that these people do not use tobacco products, a person in which of the following professions would most likely have the highest exposure to benzene, a known carcinogen?
Accept the validity of the surprise ending that was not clr : Clearly state in your own words the “surprise ending” in the reading you selected. Identify the point in the reading when you realized that the ending would be different from what the beginning of the reading suggested that it would be.Since you were..
Making positive impression in an interview : How does personal grooming play a role in making a positive impression in an interview. Include a discussion of hair length, facial hair, piercings, tattoos, and so forth.
Advantages of using centralized network management : Advantages and disadvantages of using centralized network management versus distributed network management explain

Reviews

Write a Review

Accounting Basics Questions & Answers

  Overland corporation is authorized to issue 250000 shares

overland corporation is authorized to issue 250000 shares of 1 par value common stock. during 2014 overland corporation

  Posterscom is a small internet retailer of high-quality

posters.com is a small internet retailer of high-quality posters. the company has 1000000 in operating assets and fixed

  Keeping of accounting records

Is it useful to regulate, as for example in France, the keeping of accounting records, as well as the preparation of financial statements?

  Compute the cost of goods available for sale

Explain whether the transportation cost included in each purchase should be recorded as a cost of the inventory or immediately expensed. Compute the Cost of Goods Available for Sale, Cost of Goods Sold, and Cost of Ending Inventory using the first-in..

  Identify the major stakeholders if the plant accountant

wilkens company uses the lifo method for inventory costing. in an effort to lower net income company president lenny

  10 come from ruwais 30 come from mirfa 40 come from

there are 25 students in a class in ruwais womens college. 10 come from ruwais 30 come from mirfa 40 come from

  Ann terrell invests 1497380 now for a series of 2000

ann terrell invests 14973.80 now for a series of 2000 annual returns payments beginning one year from now. ann will

  Riven corporation has a single product whose selling price

riven corporation has a single product whose selling price is 12. at an expected sales level of 1428000 the companys

  What is the value of the forecast

The present period, 0.31 one period ago, 0.19 two periods ago, and0.167 three periods ago. What is the value of your forecast?

  Create t accounts for each of the 13 accounts in the

create t accounts for each of the 13 accounts in the general ledger. put in their beginning balances given above on the

  Net operating income of dropping product

The companys accounting system, what is the net operating income earned by product S85U and what would be the effect on the companys overall net operating income of dropping product S85U

  Identify two situational pressures in a public company

Identify two situational pressures in a public company

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