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Rees Corporation's comparative balance sheets are...

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Rees Corporation's comparative balance sheets are presented below. REES CORPORATION Comparative Balance Sheets December 31 2011 2010 Cash $ 15,200 $ 17,700 Accounts receivable 25,200 22,300 Investments 20,000 16,000 Equipment 60,000 70,000 Accumulated depreciation (14,000) (10,000) Total $106,400 $116,000 Accounts payable $ 14,600 $ 11,100 Bonds payable 10,000 30,000 Common stock 50,000 45,000 Retained earnings 31,800 29,900 Total $106,400 $116,000 Additional information: Net income was $18,300. Dividends declared and paid were $16,400. Equipment which cost $10,000 and had accumulated depreciation of $1,200 was sold for $3,300. All other changes in noncurrent account balances had a direct effect on cash flows, except the change in accumulated depreciation. Prepare a statement of cash flows for 2011 using the indirect method. (List amounts from largest positive to smallest positive followed by most negative to least negative, e.g. 15, 14, 10, -17, -5, -1. If amount decreases cash flow, use either a negative sign preceding the number eg. -45 or parentheses eg (45).) REES CORPORATION Statement of Cash Flows For the Year Ended December 31, 2011 Cash flows from operating activities $ Adjustments to reconcile net income to net cash provided by operating activities $ Net cash by operating activities Cash flows from investing activities Net cash by investing activities Cash flows from financing activities Net cash by financing activities Net in cash Cash at beginning of period Cash at end of period $

 

Paper#6468 | Written in 18-Jul-2015

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