Accounting 100% original
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(Preparation of a Statement of Cash Flows) Presented below is a condensed version of the comparative balance sheets for Zubin Mehta Corporation for the last two years at December 31.
2007 | 2006 | |
Cash | $177,000 | $ 78,000 |
Accounts receivable | 180,000 | 185,000 |
Investments | 52,000 | 74,000 |
Equipment | 298,000 | 240,000 |
Less: Accumulated depreciation | (106,000) | (89,000) |
Current liabilities | 134,000 | 151,000 |
Capital stock | 160,000 | 160,000 |
Retained earnings | 307,000 | 177,000 |
Additional information:
Investments were sold at a loss (not extraordinary) of $10,000; no equipment was sold; cash dividends paid were $30,000; and net income was $160,000.
Instructions
- Prepare a statement of cash flows for 2007 for Zubin Mehta Corporation.
- Determine Zubin Mehta Corporation's free cash flow.
11 years ago
Accounting 100% original
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zubin_mehta.xlsx
