Description of this paper

Prepare a statement of cash flows for the year ending December 31, 2013 December 31

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solution


Question

Selected financial statement information and additional data for Stanislaus Co. is presented below. Prepare a statement of cash flows for the year ending December 31, 2013;December 31;2012 2013;Cash $42,000 $63,000;Accounts receivable (net) 84,000 151,200;Inventory 168,000 201,600;Land 58,800 21,000;Equipment 504,000 789,600;TOTAL $856,800 $1,226,400;Accumulated depreciation $84,000 $115,600;Accounts payable 50,400 86,000;Notes payable - Short-term 67,200 29,400;Notes payable - Long-term 168,000 302,400;Common stock 420,000 487,200;Retained earnings 67,200 205,800;TOTAL $856,800 $1,226,400;Additional data for 2013;1. Net income was $235,200.;2. Depreciation was $31,600.;3. Land was sold at its original cost.;4. Dividends of $96,600 were paid.;5. Equipment was purchased for $84,000 cash.;6. A long-term note for $201,600 was used to pay for an equipment purchase.;7. Common stock was issued to pay a $67,200 long-term note payable

 

Paper#20852 | Written in 18-Jul-2015

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