Blake Weaver, Cook Enterprises' controller, is preparing the financial statements for 2013. He has completed the comparative balance sheets and income statement, which follow, and has gathered this additional information:
• On December 31, 2013, Cook sold a piece of equipment with an original cost of $25,000 for $30,000 cash. The equipment had a book value of $13,000.
• On February 1, 2013, Cook issued $100,000 of common stock to raise cash in anticipation of the purchase of a new building later in the year.
• On February 2, 2013, Cook took out a ten-year $75,000 long-term loan to provide the remaining funds needed to purchase the building.
• On May 15, 2013, Cook paid $150,000 for the new building.
• The company repaid $4,600 of the long-term debt before the end of the year.

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Using the direct method, prepare Cook Enterprises' statement of cash flows for2013.

  • CreatedFebruary 21, 2014
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