Spike Corp balance sheet is below with the management narrative: Comparative Balance Sheet-Spike 12/31/2015 Assets Cash...
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Spike Corp balance sheet is below with the management narrative: Comparative Balance Sheet-Spike 12/31/2015 Assets Cash Accounts Receivable Inventory Short Term Prepaid Rent PP&E Accum Depr Total Assets Liabilities & Equity Accounts Payable Accrued Liabilities Short Term Inc Tax Payable Long Term Bonds Payable Long Term Bank Note Common Stock Retained Earnings Total Liabilities & Equity S $ $ $ $ $ $ $ $ $ $ S $ S $ 51 S 13 S 22 S 23 S 542 S (353) S 298 $ 18 S 14 $ 24 $ 143 $ 33 $ 56 $ 10 S 298 $ 12/31/2016 20 22 36 19 542 (348) 291 12 8 25 135 29 62 20 291 . . Net Income for the period was $12. The company sold equipment for $13 that was originally purchased for $30. The sold asset had accumulated depreciation of $13. The company paid a cash dividend during the year and did not issue any bonds payable or receive a new long- term bank note or repurchase any of its own common stock. equired: • Construct, in good form, the company's Statement of Cash Flows for the period, using the indirect method. (15pts) 10 Spike Corp balance sheet is below with the management narrative: Comparative Balance Sheet-Spike 12/31/2015 Assets Cash Accounts Receivable Inventory Short Term Prepaid Rent PP&E Accum Depr Total Assets Liabilities & Equity Accounts Payable Accrued Liabilities Short Term Inc Tax Payable Long Term Bonds Payable Long Term Bank Note Common Stock Retained Earnings Total Liabilities & Equity S $ $ $ $ $ $ $ $ $ $ S $ S $ 51 S 13 S 22 S 23 S 542 S (353) S 298 $ 18 S 14 $ 24 $ 143 $ 33 $ 56 $ 10 S 298 $ 12/31/2016 20 22 36 19 542 (348) 291 12 8 25 135 29 62 20 291 . . Net Income for the period was $12. The company sold equipment for $13 that was originally purchased for $30. The sold asset had accumulated depreciation of $13. The company paid a cash dividend during the year and did not issue any bonds payable or receive a new long- term bank note or repurchase any of its own common stock. equired: • Construct, in good form, the company's Statement of Cash Flows for the period, using the indirect method. (15pts) 10
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Construct in good form the companys Statement of Cash Flows for the period using the indirect method Spike Corporation Statement of Cash Flows using t... View the full answer
Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
Posted Date:
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