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 Statement of Cash Flows-Indirect Method The comparative balance sheet.pdf
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Statement of Cash Flows-Indirect Method The comparative balance sheet.pdf

  1. Statement of Cash Flows-Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 2014 and 2013, is as follow Dec. 31, 2014 Dec. 31, 2013 Assets $70,720 207,230 298,520 0 295,800 438,600 (99,110) $1,211,760 47,940 188,190 289,850 102,000 0 358,020 (84,320) $901,680 Cash and Liabilities and Stockholders' Equity $ 205,700 30,600 25,500 202,000 354,000 393,960 $1,211,760 $194,140 26,860 20,400 102,000 204,000 354,280 $901,680 Paid-in capital: Excess of issue price over par-com s of issue price over par-common stock Additional data obtained from an examination of the accounts in the ledger for 2014 are as follows: a. Equipment and land were acquired for cash b. There were no disposals of equipment during the year. c. The investments were sold for $91,800 cash d. The common stock was issued for cash e. There was a $141,680 credit to Retained Earnings for net income f. There was a $102,000 debit to Retained Earnings for cash dividends declared Required Solution cash flow from operating activities cash receipt from custumer 2023898 cash paid to suppliers and employees 1964775 cash generated from operations 59123 income tax paid 94453 236133 net cash from operating activities 4378382 cash flow from investing activities purchased investment 10200 land 295800 net cash used in investing activities 285600 cash flow from financing activities dividend paid 25500 net cash from financing 25500 net increase in cash and cash eqivalent 22780 cash and cash eqivalent at beginning of the year 47940 cash and acsh eqivalent at the end of the year 70720
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