Question

The comparative balance sheets for Berkler Company as of December 31 are presented below.


Additional information:
1. Operating expenses include depreciation expense of $48,000.
2. Land was sold for cash at book value.
3. Cash dividends of $12,000 were paid.
4. Net income for 2014 was $46,000.
5. Equipment was purchased for $88,000 cash. In addition, equipment costing $34,000 with a book value of $6,000 was sold for $9,000 cash.
6. Bonds were converted at face value by issuing 50,000 shares of $1 par value common stock.
Instructions
Prepare a statement of cash flows for the year ended December 31, 2014, using the indirectmethod.


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  • CreatedApril 07, 2014
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