A comparative balance sheet for Rocker Company appears below: Rocker Company Comparative Balance sheet Liabilities and stockholder's
Question:
Rocker Company
Comparative Balance sheet
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Liabilities and stockholder's Equity
Additional information:
1. Net income for the year ending December 31, 2012 was $33,000.
2. Cash dividends of $15,000 were declared and paid during the year.
3. Long-term investments that had a cost of $18,000 were sold for $14,000.
4. Sales for 2012 were $120,000.
Instructions
Prepare a statement of cash flows for the year ended December 31, 2012, using the indirect method.
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Related Book For
Managerial Accounting
ISBN: 9780073526706
12th Edition
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
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