Below are balance sheet and income statement data for Blue Panel Corporation. Additional information for Blue Panel
Question:
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Additional information for Blue Panel Corporation is as follows:
(a) Property, plant, and equipment with an original historical cost of $2,100 was sold during 2011.
(b) All accounts payable relate to inventory purchases.
(c) The €œOther long-term liabilities€ item is Blue Panel€™s pension liability. Pension expense is reported as part of selling and administrative expenses.
(d) During 2011, Blue Panel issued shares of common stock to an investor in exchange for property, plant, and equipment valued at $800.
(e) The accumulated other comprehensive income relates solely to the available-for- sale investment securities.
Instructions:
Prepare a complete statement of cash flows for 2011 for Blue Panel Corporation. Use the direct method for reporting cash flows from operatingactivities.
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
Step by Step Answer:
Blue Panel Corporation Statement of Cash Flows For the Year Ended December 31 2011 Operating activities Cash collected from customers 56965 Less Cash paid for inventory 32386 Cash paid for selling and ...View the full answer
