You have completed the field work in connection with your audit of Alexander Cor

Question

You have completed the field work in connection with your audit of Alexander Corporation for the year ended December 31, 2012. The balance sheet accounts at the beginning and end of the year are shown below.

Dec. 31,
2012
Dec. 31,
2011
Increase or
(Decrease) Cash
$320,975
$344,190

($23,215 ) Accounts receivable
542,185
407,715

134,470
Inventory
856,664
704,550

152,114
Prepaid expenses
13,860
9,240

4,620
Investment in subsidiary
127,628
0

127,628
Cash surrender value of life insurance
2,661
2,079

582
Machinery
239,085
219,450

19,635
Buildings
618,156
471,125

147,031
Land
60,638
60,638

0
Patents
79,695
73,920

5,775
Copyrights
46,200
57,750

(11,550 ) Bond discount and issue cost
5,200
0
5,200

$2,912,947 $2,350,657
$562,290







Accrued taxes payable
$104,241
$91,939

$12,302
Accounts payable
345,668
323,400

22,268
Dividends payable
80,850
0

80,850
Bonds payable You have completed the field work in connection with your audit of Alexander Corporation for the year ended December 31, 2012. The balance sheet accounts at the beginning and end of the year are shown below. Your working papers from the audit contain the following information: From the information given, prepare a statement of cash flows using the indirect method. A worksheet is not necessary, but the principal computations should be supported by schedules or general ledger accounts. The company uses straight-line amortization for bond interest. (Round answers to 0 decimal places, e.g. 2,500. If an amount reduces the account balance then enter with negative sign.)

Explanation / Answer

I am completely lost on this. I have several problems on the same lines as this one but if someone could help me figure this one out maybe I can piece in the slots??? Thanks everyone <3

Context Corporation reports the following components of stockholders

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