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Category > Management Posted 20 Feb 2018 My Price 7.00

Amelia Enterprises, Inc

PR 16-2A The comparative balance sheet of Amelia Enterprises, Inc. at December 31, 2010 and Statement of cash 2009, is as follows: indirect method Dec. 31, 2010 Dec. 31, 2009 obj. 2 Assets 73,300 89,900 Cash Accounts receivable (net 112.300 121,000 60,800 149,600 Merchandise inventory. Prepaid expenses 6,700 4,800 Net cash flow 268,500 Equipment 327,500 from operating Accumulated depreciation equipment 85.400) 66.100 activities, $169,600 $595,200 $567,700 Liabilities and Stockholders Equity $118,800 Accounts payable (merchandise creditors) $125,100 Mortgage note payable 68.000 Common stock, $1 par 24.000 2.000 Paid-in capital in excess of par common stock 288.000 60,000 Retained earnings 158,100 108,900 $595,200 $567,700 Additional data obtained from the income statement and from an examination of the accounts in the ledger for 2010 are as follows: a. Net income, $126,000. b. Depreciation reported on the income statement, $41,700 c. Equipment was purchased at a cost of $81A00, and fully depreciated equipment cost- ing $22,400 was discarded, with no salvage realized. d. The mortgage note payable was not due until 2013, but the terms permitted earlier payment without penalty. e. 7,000 shares of common stock were issued at $20 for cash. f. Cash dividends declared and paid, $76,800. Instructions Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities.

The comparative balance sheet of Amelia Enterprises, Inc. at December 31, 2010 and 2009, is as follows: Additional data obtained from the income statement and from an examination of the accounts in the ledger for 2010 are as follows: Net income, $126,000. Depreciation reported on the income statement, $41, 700. Equipment was purchased at a cost of $81, 400, and fully depreciated equipment costing $22, 400 was discarded, with no salvage realized. The mortgage note payable was not due until 2013, but the terms permitted earlier payment without penalty. 7,000 shares of common stock were issued at $20 for cash. Cash dividends declared and paid, $76, 800. Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities.

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Maurice Tutor
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Status NEW Posted 20 Feb 2018 10:02 PM My Price 7.00

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