Statement of cash flows--indirect method The comparative balance sheet of flack

ID: 2367160 • Letter: S

Question

Statement of cash flows--indirect method

The comparative balance sheet of flack Inc. for December 31, 2013 and 2012

Dec. 31, 2013 Dec. 31, 2012

Assets

Cash 234660 219720

Accounts Receivable 85440 78360

Investoies 240660 231420

Investments 0 90000

Land 123000 0

Equipment 264420 207420

Accumulated Depreciation--equipment -62400 -55500 =885780 771420

Liabilites and Stockholders equity

Accounts Payable (Merchandise creditors) 159180 151860

Accured expenses payable (operating expenses0 15840 19740

Dividends payable 9000 7200

Common stocks, $1 par 48000 36000

Pain-in capital in excess of par--common stock 180000 105000

Retained earnings 473760 451620

885780 771420

A) The investments were sold for $105000 cash

B) Equipment and land were acquired for cash

C) There were no desposal of equipment during the year

D) The common stock was issued for cash

E) There was a $58140 to Retained Earnings for net income

F) There was a $36000 debit to Retained Earnings for cash dividends declared

Prepare a statement of cash flow, using the indirect method of presenting cash flow s from operating activites.

Sorry for not providing a direct answer, but this document:

http://www.justanswer.com/uploads/BusinessTutor/2008-12-23_231135_Oak.doc

has the same problem but with different values.

Hope this helps.
Cheers, mate!

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