Problem 2 – Statement of Cash Flows (28 points)Sharp CompanyComparative Balance Sheet December 31 2011 2010 Cash $ 64,000 $ 36, 000 Accounts receivable, net 53,000 57,000 Inventory 171,000 123,000 Land 180,000 285,000 Building 300,000 300,000 Accumulated depreciation (75,000) (60,000) Equipment 1,545,000 900,000 Accumulated depreciation (177,000) (141,000) $2,061,000 $1,500,000 Accounts payable $ 172,000 $ 150,000 Bonds payable 480,000 -0- Capital stock, $10 par 1,125,000 1,125,000 Retained earnings 284,000 225,000 $2,061,000 $1,500,000 Additional Data:Net income for the year amounted to $104,000.Cash dividends were paid amounting to 4% of par value.Land was sold for $120,000.Sharp sold equipment, which cost $225,000 and had accumulated depreciation of $90,000, for $105,000.Instructions: Prepare a statement of cash flows using the indirect method.
If you want the formulas and any calculations, select the corresponding cell and press F2(Function Key on key board),It will show all calculations and formulas AutomaticallyQuestion:Sharp…
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.Read more
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.Read more
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.Read more