Description of this paper

I need to prepare a statement of cash flows using...

Description

Solution


Question

I need to prepare a statement of cash flows using the below information . The following is additional information about the Flower Shoppe that is needed for financial-statement preparation: Net income for the year ended December 31, 2008 was $10,845. Changes from the prior year's balances included the following: a decrease in accounts receivable of $300. a decrease in inventory of $450. an increase in accounts payable of $250. an decrease in accrued expenses of $100. Land was purchased in April for $3,500. Cash as of January 1, 2008 was $10,105. The Flower Shoppe Adjusted Trial Balance December 31, 2008 Debit Cash $22,750 Accounts Receivable 3,200 Inventory 8,000 Land 27,000 Building 56,000 Accumulated Depreciation Credit 16,800 Accounts Payable 4,600 Accrued Expenses 2,500 Common Stock 20,000 Additional Paid-in Capital 10,000 Dividends Debit 1,200 Retained Earnings Credit 53,405 Sales 112,020 Returns Debit 1,300 Purchases 47,000 Salaries 38,000 Supplies 870 Utilities 5,225 Telephone 2,850 Bank Charges 330 Depreciation Expense 5,600 $219,325 $219,325 Debit Credit

 

Paper#1129 | Written in 18-Jul-2015

Price : $25
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