Prepare the statement of cash flows

Assignment Help Accounting Basics
Reference no: EM13866943

The following is a list of items for the 2010 statement of cash flows of the Witts Company:

1. Receipt from sale of equipment, $2,700 

2. Increase in inventory, $3,900 

3. Net income, $13,500 

4. Payment for purchase of building, $29,000 

5. Depreciation expense, $8,700 

6. Receipt from issuance of bonds, $8,000 

7. Increase in prepaid expenses, $800

8. Loss on sale of equipment, $2,200

9. Payment of dividends, $5,200

10. Decrease in accounts receivable, $1,700

11. Issuance of common stock for land, $6,900

12. Decrease in accounts payable, $1,500

13. Beginning cash balance, $10,200


Required:
1. Prepare the statement of cash flows.

2. Under IFRS, what alternative treatment of the payment of dividends is allowed? 

3.How would this affect the statement of cash flows? 

Reference no: EM13866943

Questions Cloud

What did both warhol and rauschenberg : What did both Warhol and Rauschenberg have in common in regards to their art work? How were their subjects a reflection of the era in which they were created?
What was the outcome explain your response : The PMBOK Guide identifies the following competencies, knowledge, performance, and personal. Which of these competencies have you personally applied, and what was the outcome? Explain your response.
How is the organizational culture transmitted : How is the organizational culture transmitted to the individuals working within it?
Faced with significant schedule challenges : Faced with significant schedule challenges, the project manager has several responsibilities. All of the following are among the project manager's responsibilities EXCEPT:
Prepare the statement of cash flows : The following is a list of items for the 2010 statement of cash flows of the Witts Company:
Times consider based on the grand strategy matrix : As the production manager for the NY Times, what problems would you anticipate in implementing a strategy to increase the average number of pages in the paper by 40 percent (40%)? What alternative strategies should the NY Times consider based on the ..
Focus on the last two or three years and the future : Case is Costco Wholesale in 2012: Mission, Business model, Strategy Arthur A. Thompson  The University of Alabama A.Summary: Briefly summarize the situationpresented in the case Do not repeat history, focus on the last two or threeyears and the futur..
How do you know if system is meeting your security goals : How do you know if your system is meeting your security goals? You can verify that controls are working, but how do you know if they are getting the job done
What factors have contributed to the sexual identity adopted : What factors have contributed to the sexual identity adopted?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Recommendation to the head of the industry group

How might these considerations affect your recommendation to the head of the industry group?

  Average number of days to collect receivables

The average number of days to collect receivables during 2001 was

  Checking account balance at bank 45140 money market balance

1.checking account balance 936120 certificate of deposit 1427800 cash advance to subsidiary of 987220 utility deposit

  The note payable relating to the june 2 and 10 transactions

how do you work this transaction?the note payable relating to the june 2 and 10 transactions is a five year note with

  Find out franchisee breakeven sales in dollars

Find out a franchisee's breakeven sales in dollars. Is franchising good idea for Wong if franchisees want a minimum monthly operating income of $6,000 and Wong believes that most locations could generate $26,000 in monthly sales?

  Given transactions for journalization on stock issue

Prepare journal entries for the transactions listed above. Prepare an updated Dec 31st trial balance, reflecting the unrecorded transaction-Prepare a multiple-step income statement for the year ending Dec 31st. Prepare a retained earnings statement f..

  Enciso corporation is preparing its cash budget for

enciso corporation is preparing its cash budget for november. the budgeted beginning cash balance is 31000. budgeted

  A building that was purchased on december 31 2000 for

a building that was purchased on december 31 2000 for 2500000 was originally estimated to have a life of 50 years with

  Imagine that you run a photography printing store your

1.explain the life cycle of an information systems2.apply the steps of the life cycle to the scenario listed

  When the cost method is used to account for an investment

when the cost method is used to account for an investment the carring value of the investment is affected bya the

  Assessing risk factors due to errors and fraud

When assessing risk factors due to errors and fraud, what are some types of examples of these? Have you seen this occur in the workplace past/present/familiar with a situation? - Answer 150-200 words.

  Tucker corporation is planning to issue new 20-year bonds

tucker corporation is planning to issue new 20-year bonds. initially the plan was to make the bonds non-callable. if

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