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When forming a company, the options are sole proprietor, partnership, and corporation. Most choose corporation. Why is the corporate form seen to be best? What rights do the stockholders have?;When raising capital sometimes the decision is to sell stock. What are the pros and cons of selling stock? Is it better to sell common or preferred stock? Why?;Please attempt this exercise on cash flows.;Paul;E12-20A The income statement and additional data of Bolton Travel Products, Inc., follow;Bolton Travel Products, Inc.;Income Statement;Year Ended December 31, 2012;Revenues;Service revenue $237,000;Dividend revenue 8,700 $245,700;Expenses;Cost of goods sold 100,000;Salary expense 59,000;Depreciation expense 28,000;Advertising expense 2,900;Interest expense 2,100;Income tax expense 14,000 206,000;Net income $39,700;Additional data;a. Acquisition of plant assets was $130,000. Of this amount, $75,000 was paid in cash and $55,000 by signing a note payable.;b. Proceeds from sale of land totaled $25,000.;c. Proceeds from issuance of common stock totaled $50,000.;d. Payment of long-term note payable was $16,000.;e. Payment of dividends was $11,000.;f. From the balance sheets;12/31/2012 12/31/2011;Current assets;Cash $125,000 $50,800;Accounts receivable 41,000 57,000;Inventory 94,000 73,000;Prepaid expenses 9,200 8,700;Current liabilities;Accounts payable $32,000 $18,000;Accrued liabilities 82,000 57,000;? Prepare the operating section of Bolton?s statement of cash flows for the year ended December 31, 2012, using the indirect method.


Paper#80315 | Written in 18-Jul-2015

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