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Direct and Indirect Cash Flows
Write a 350-word response regarding the differences between the direct and indirect presentation of cash flows. Why does the Financial Accounting Standards Board allow both methods? Which do you prefer? Why?
Format your response consistent with APA guidelines.
E13-8 Here are comparative balance sheets for Taguchi Company. TAGUCHI COMPANY
Assets
Cash
Accounts receivable Inventories
Land
Equipment
Accumulated depreciation
Total
Liabilities and Stockholders’ Equity
Accounts payable Bonds payable Common stock ($1 par) Retained earnings
Total Additional information:
2010
$ 22,000 76,000 189,000 100,000 200,000
(32,000) $555,000
$ 47,000 200,000 174,000 134,000
$555,000
Comparative Balance Sheets December 31
2011
$ 73,000 85,000 170,000 75,000 260,000
(66,000) $597,000
$ 39,000 150,000 216,000 192,000
$597,000
1. Netincomefor2011was$103,000.
2. Cashdividendsof$45,000weredeclaredandpaid.
3. Bondspayableamountingto$50,000wereredeemedforcash$50,000. 4. Commonstockwasissuedfor$42,000cash.
5. Noequipmentwassoldduring2011,butlandwassoldatcost.
Instructions
Prepare a statement of cash flows for 2011 using the indirect method.
E14-3 The comparative condensed balance sheets of Conard Corporation CONARD CORPORATION
Comparative Condensed Balance Sheets December 31
are presented below.
2011
$ 80,000 90,000 40,000
$210,000
$ 48,000 150,000 12,000
$210,000
2012
$ 74,000 99,000 27,000
$200,000
$ 42,000 143,000 15,000
$200,000
Assets
Current assets
Property, plant, and equipment (net) Intangibles
Total assets
Liabilities and stockholders’ equity Current liabilities
Long-term liabilities Stockholders’ equity
Total liabilities and stockholders’ equity
Instructions
(a) Prepare a horizontal analysis of the balance sheet data for Conard Corporation using 2011 as a base.
(b) Prepare a vertical analysis of the balance sheet data for Conard Corporation in columnar form for 2012.
12 years ago 40
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- taguchi_company_indirect_method_e13-8.xlsx
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- direct_and_indirect_cash_flows.docx
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