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    Buddytiko's Avatar
    Buddytiko Posts: 1, Reputation: 1
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    #1

    Oct 15, 2009, 10:49 AM
    Cash Flow Statement (indirect method)
    Balance Sheet
    Dec 31/08 and 07

    2008 2007

    Cash 35000 62000
    A/R 110000 93000
    Inventory 85000 88000
    Long Term Investments 200000 100000
    Equipment 350000 400000
    Accum/Amortization -100000 -120000
    A/P 90000 125000
    Bonds Payable 240000 200000
    Common Shares 140000 120000
    Retained Earnings 210000 178000

    Additional Info: Net income for 2008 was 98000, which included a $14000 gain on sale of equipment.
    Equipment with an original cost of 50,000 and accum amortization of 30,000 was sold during the year. No equipment was acquired during the year.
    Cash dividends were declared and paid during the year
    Acquired 100,000 of held to maturity investments during 2008 .
    REQUIRED: Prepare a statement of cash flows for 2008 using indirect method.
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    Oct 16, 2009, 08:35 PM

    Please see the guidelines for posting homework problems:
    Ask Me Help Desk - Announcements in Forum : Homework Help
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