Maurice Tutor

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Teaching Since: May 2017
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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 20 Nov 2017 My Price 7.00

Warrick Company

Statement of Cash Flows The following is a list of the items to be included in the preparation of the 2010 statement of cash flows for the Warrick Company:

1. Net income, $59,200

2. Payment for purchase of building, $98,000

3. Increase in accounts receivable, $7,400

4. Proceeds from issuance of common stock, $37,100

5. Increase in accounts payable, $4,500

6. Proceeds from sale of land, $7,000

7. Depreciation expense, $12,600

8. Payment of dividends, $36,000

9. Gain on sale of land, $5,300

10. Decrease in inventory, $3,700

11. Payment for purchase of long-term investments, $9,600

12. Amortization of discount on bonds payable, $1,900

13. Proceeds from issuance of note, $18,000

14. Increase in deferred taxes payable, $5,000

15. Equipment acquired by capital lease, $19,500

16. Decrease in salaries payable, $2,300

17. Beginning cash balance, $20,300

Required

1. Prepare the statement of cash flows.

2. Assume the company’s preferred stock has been selling for $120 per share during 2010. How many shares would the company have had to issue to avoid having a decrease in cash during the year? Where would this issuance have been reported in the statement of cash flows?

Answers

Maurice Tutor
(5)
Status NEW Posted 20 Nov 2017 12:11 PM My Price 7.00

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