b) Kalatia Company's balance sheet amounts at the end of Years 1 and 2 are as...

 

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b) Kalatia Company's balance sheet amounts at the end of Years 1 and 2 are as follows: Assets Year 2 Year 1 Current Assets Cash Accounts receivable Inventory Prepaid expense Non-Current Assets Plant assets Accumulated depreciation Investment in Bhaluka Company Land Machinery Total assets Liabilities and Stockholders' Equity: Current Liabilities Accounts payable Accrued liabilities Income taxes payable Non-Current Liabilities Bonds payable Stockholders' Equity: Common stock Retained earnings Total Liabilities and stockholders' equity Additional information: Tk. 4,000 250,000 310,000 7,000 510,000 (136,000) 0 200,000 140,000 Tk. 1,285,000 Tk. 305,000 20,000 45,000 150,000 640,000 125,000 Tk.1285,000 7. Land was purchased in exchange of machinery. 8. Investment was sold at face value. of Tk. 30,000 was sold during the Year 2 for Tk. 8,000. 3. Company purchased new equipment costing Tk. 150,000 for cash. 4. Bonds payable were issued for cash Tk. 40,000. 5. The company declared and paid cash dividend during Year 2 for. 6. Stock was issued for cash. Tk. 21,000 170,000 260,000 14,000 400,000 (120,000) 40,000 140,000 200,000 Tk. 1,125,000 Tk. 250,000 32,000 40,000 1. Net income for the year Tk. 34,000. 2. Equipment that had cost Tk. 40,000 and on which there was accumulated depreciation 110,000 610,000 83,000 Tk.1125,000 Required: Prepare a statement of cash flows for Year 2 using indirect method. The End.... b) Kalatia Company's balance sheet amounts at the end of Years 1 and 2 are as follows: Assets Year 2 Year 1 Current Assets Cash Accounts receivable Inventory Prepaid expense Non-Current Assets Plant assets Accumulated depreciation Investment in Bhaluka Company Land Machinery Total assets Liabilities and Stockholders' Equity: Current Liabilities Accounts payable Accrued liabilities Income taxes payable Non-Current Liabilities Bonds payable Stockholders' Equity: Common stock Retained earnings Total Liabilities and stockholders' equity Additional information: Tk. 4,000 250,000 310,000 7,000 510,000 (136,000) 0 200,000 140,000 Tk. 1,285,000 Tk. 305,000 20,000 45,000 150,000 640,000 125,000 Tk.1285,000 7. Land was purchased in exchange of machinery. 8. Investment was sold at face value. of Tk. 30,000 was sold during the Year 2 for Tk. 8,000. 3. Company purchased new equipment costing Tk. 150,000 for cash. 4. Bonds payable were issued for cash Tk. 40,000. 5. The company declared and paid cash dividend during Year 2 for. 6. Stock was issued for cash. Tk. 21,000 170,000 260,000 14,000 400,000 (120,000) 40,000 140,000 200,000 Tk. 1,125,000 Tk. 250,000 32,000 40,000 1. Net income for the year Tk. 34,000. 2. Equipment that had cost Tk. 40,000 and on which there was accumulated depreciation 110,000 610,000 83,000 Tk.1125,000 Required: Prepare a statement of cash flows for Year 2 using indirect method. The End....

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Statement of cash flows for Year 2 Using indirect method Operating activities Net income Tk 34000 Ad... View the full answer