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The following balances are from Company A: Cash Accounts receivable Inventory Deferred Tax Asset Land Cash Flow Problem Equipment Buildings Copyright Allowance for doubtful accounts Accounts payable Dividends Payable Salaries Payable Accumulated depreciation - Equip Accumulated depreciation - Bldg Bonds payable -10% Premium on Bonds Payable Common stock APIC - CS Retained earnings Debits Credits 2014 2013 201,000 225,000 110,000 140,000 205,000 175,000 15,000 10,000 175,000 100,000 65,000 40,000 300,000 180,000 8,000 12,000 1,079,000 882,000 6,000 9,000 90,000 84,000 50,000 40,000 42,000 65,000 9,000 4,000 60,000 25,000 125,000 250,000 7,000 14,000 75,000 25,000 264,000 90,000 351,000 276,000 1,079,000 882,000 Change (24,000) (30,000) 30,000 5,000 75,000 25,000 120,000 (4,000) 197,000 (3,000) 6,000 10,000 (23,000) 5,000 35,000 (125,000) (7,000) 50,000 174,000 75,000 197,000 1. Buildings with a cost of $100,000 and Land with a cost of $25,000 was sold for $90,000. The book value of the building was $85,000. 2. 3. Dividends of $46,000 were declared in 2014. These dividends have not been paid. 50% of the bonds outstanding at the end of 2013 were retired on 1/1/14 for $115,000. The carrying value of the retired bonds was $130,000. 4. Common stock was issued for $224,000. Required: Prepare an indirect statement of cash flows

The following balances are from Company A: Cash Accounts receivable Inventory Deferred Tax Asset Land Cash Flow Problem Equipment Buildings Copyright Allowance for doubtful accounts Accounts payable Dividends Payable Salaries Payable Accumulated depreciation - Equip Accumulated depreciation - Bldg Bonds payable -10% Premium on Bonds Payable Common stock APIC - CS Retained earnings Debits Credits 2014 2013 201,000 225,000 110,000 140,000 205,000 175,000 15,000 10,000 175,000 100,000 65,000 40,000 300,000 180,000 8,000 12,000 1,079,000 882,000 6,000 9,000 90,000 84,000 50,000 40,000 42,000 65,000 9,000 4,000 60,000 25,000 125,000 250,000 7,000 14,000 75,000 25,000 264,000 90,000 351,000 276,000 1,079,000 882,000 Change (24,000) (30,000) 30,000 5,000 75,000 25,000 120,000 (4,000) 197,000 (3,000) 6,000 10,000 (23,000) 5,000 35,000 (125,000) (7,000) 50,000 174,000 75,000 197,000 1. Buildings with a cost of $100,000 and Land with a cost of $25,000 was sold for $90,000. The book value of the building was $85,000. 2. 3. Dividends of $46,000 were declared in 2014. These dividends have not been paid. 50% of the bonds outstanding at the end of 2013 were retired on 1/1/14 for $115,000. The carrying value of the retired bonds was $130,000. 4. Common stock was issued for $224,000. Required: Prepare an indirect statement of cash flows

Financial Accounting: The Impact on Decision Makers
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter10: Long-term Liabilities
Section: Chapter Questions
Problem 10.10E
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The following balances are from Company A: Cash Accounts receivable Inventory Deferred Tax Asset Land Equipment Buildings Copyright Cash Flow Problem Allowance for doubtful accounts Accounts payable Dividends Payable Salaries Payable Accumulated depreciation - Equip Accumulated depreciation - Bldg Bonds payable -10% Premium on Bonds Payable Common stock APIC - CS Retained earnings Debits Credits 2014 2013 Change 201,000 225,000 (24,000) 110,000 140,000 (30,000) 205,000 175,000 30,000 15,000 10,000 5,000 175,000 100,000 75,000 65,000 40,000 25,000 300,000 180,000 120,000 8,000 12,000 (4,000) 882,000 197,000 1,079,000 6,000 9,000 90,000 84,000 50,000 40,000 42,000 65,000 9,000 4,000 60,000 25,000 125,000 250,000 7,000 14,000 75,000 25,000 264,000 90,000 351,000 276,000 1,079,000 882,000 (3,000) 6,000 10,000 (23,000) 5,000 35,000 (125,000) (7,000) 50,000 174,000 75,000 197,000 1. Buildings with a cost of $100,000 and Land with a cost of $25,000 was sold for $90,000. The book value of the building was $85,000. 2. Dividends of $46,000 were declared in 2014. These dividends have not been paid. 3. 50% of the bonds outstanding at the end of 2013 were retired on 1/1/14 for $115,000. The carrying value of the retired bonds was $130,000. 4. Common stock was issued for $224,000. Required: Prepare an indirect statement of cash flows
Transcribed Image Text:The following balances are from Company A: Cash Accounts receivable Inventory Deferred Tax Asset Land Equipment Buildings Copyright Cash Flow Problem Allowance for doubtful accounts Accounts payable Dividends Payable Salaries Payable Accumulated depreciation - Equip Accumulated depreciation - Bldg Bonds payable -10% Premium on Bonds Payable Common stock APIC - CS Retained earnings Debits Credits 2014 2013 Change 201,000 225,000 (24,000) 110,000 140,000 (30,000) 205,000 175,000 30,000 15,000 10,000 5,000 175,000 100,000 75,000 65,000 40,000 25,000 300,000 180,000 120,000 8,000 12,000 (4,000) 882,000 197,000 1,079,000 6,000 9,000 90,000 84,000 50,000 40,000 42,000 65,000 9,000 4,000 60,000 25,000 125,000 250,000 7,000 14,000 75,000 25,000 264,000 90,000 351,000 276,000 1,079,000 882,000 (3,000) 6,000 10,000 (23,000) 5,000 35,000 (125,000) (7,000) 50,000 174,000 75,000 197,000 1. Buildings with a cost of $100,000 and Land with a cost of $25,000 was sold for $90,000. The book value of the building was $85,000. 2. Dividends of $46,000 were declared in 2014. These dividends have not been paid. 3. 50% of the bonds outstanding at the end of 2013 were retired on 1/1/14 for $115,000. The carrying value of the retired bonds was $130,000. 4. Common stock was issued for $224,000. Required: Prepare an indirect statement of cash flows
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