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##### Prepare a cash flow statement, using the indirect method for the following company.

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Prepare a cash flow statement, using the indirect method for the following company.;The comparative balance sheet of Tree and Tile Flooring Co. for June 30, 2008 and 2007 is as follows;June 30, 2008;June 30 2007;Assets;Cash;\$ 34,700;\$ 23,500;Accounts Receivable (net);101,600;92,300;Inventories;146,300;142,100;Investments;0;50,000;Land;145,000;0;Equipment;215,000;175,500;Accumulated Depreciation-Equipment;(48,600);(41,300);Total;\$594,000;\$442,100;Liabilities and Stockholders? Equity;Accounts Payable (merchandise creditors);\$100,900;\$ 95,200;Accrued Operating Expenses;15,000;13,200;Dividends Payable;12,500;10,000;Common Stock;276,000;150,000;Retained Earnings;189,600;173,700;Total;\$594,000;\$442,100;The following additional information was taken from the records of Tree and Tile Flooring Company;?Equipment and land were acquired for cash.;?There were no disposals of equipment during the year.;?The investments were sold for \$45,000 cash.;?The common stock was issued for cash.;?There was a \$65,900 credit to Retained Earnings for net income.;?There was a \$50,000 debit to Retained Earnings for cash dividends declared.;?The calculation for Cash Dividends is \$50,000+\$10,000 - \$12,500 = \$47,500.

Paper#25413 | Written in 18-Jul-2015

Price : \$27