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| | Cash Flow Assignment |
| | Instuctions: Complete the statement of cash flows for 2017 using the indirect method |
| | Here is a comparative balance sheet for Joe Company |
| | JOE COMPANY |
| | Comparative Balance Sheet |
| | 31-Dec |
| | Assets | 2017 | 2016 |
| | Cash | $ 68,000.00 | $ 22,000.00 |
| | Accounts receivable | $ 85,000.00 | $ 76,000.00 |
| | Inventories | $ 170,000.00 | $ 189,000.00 |
| | Land | $ 80,000.00 | $ 100,000.00 |
| | Equipment | $ 260,000.00 | $ 200,000.00 |
| | Accumulated Depreciation | $ (66,000.00) | $ (32,000.00) |
| | Total | $ 597,000.00 | $ 555,000.00 |
| | Liabilities and Stockholders’ equity |
| | Accounts payable | $ 39,000.00 | $ 47,000.00 |
| | Bonds payable | $ 150,000.00 | $ 200,000.00 |
| | Common stock ($1 par) | $ 216,000.00 | $ 174,000.00 |
| | Retained earnings | $ 192,000.00 | $ 134,000.00 |
| | Total | $ 597,000.00 | $ 555,000.00 |
| | Additional information: |
| | 1. Net income for 2017 was $93,000. |
| | 2. Cash dividends of $35,000 were declared and paid. |
| | 3. Bonds payable amounting to $50,000 were redeemed for cash $50,000. |
| | 4. Common stock was issued for $42,000 cash. |
| | 5. No equipment was sold during 2017. |
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cash_flow_assignment_student1.xls
