Cash flow statement

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Following are selected balance sheet accounts of Chocolate Bakery at December 31, 2013 and 2012, and the increases or decreases in each account from 2012 to 2013.  Also presented is selected income statement information for the year ended December 31, 2013, and additional information.

                                                                                                         Increase

Selected balance sheet accounts                       2013                2012        (Decrease)

Assets:

      Accounts receivable                           $   34,000           $  24,000        $10,000

      Property, plant, and equipment               277,000             247,000          30,000

      Accumulated depreciation                      (178,000)           (167,000)        (11,000)

 

Liabilities and stockholders' equity:

      Bonds payable                                       49,000               46,000            3,000

      Dividends payable                                    8,000                5,000            3,000

      Common stock, $1 par                            22,000               19,000            3,000

      Additional paid-in capital                            9,000                3,000            6,000

      Retained earnings                                  104,000               91,000          13,000

Selected income statement information for the year ended December 31, 2013

Sales revenue                                          $155,000

Depreciation                                                 33,000

Gain on sale of equipment                              13,000

Net income                                                  28,000

Additional information

•   Accounts receivable relate to sales of merchandise.

•   During 2013, equipment costing $40,000 was sold for cash.

•   During 2013, $20,000 of bonds payable were issued in exchange for property, plant, and equipment.  There was no amortization of bond discount or premium.

 

 

Required:

 

Create the statement of Cash flows for Chocolate Bakery for the year ended December 13, 2013.  Use the indirect method.

 

 

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