Cassandra Corporation?s comparative balance sheets are presented below. Additional information:1. Net income was $18,300. Dividends declared and
Question:
Cassandra Corporation?s comparative balance sheets are presented below.
Additional information:1. Net income was $18,300. Dividends declared and paid were $16,400.2. Equipment which cost $10,000 and had accumulated depreciation of $1,200 was sold for $3,300.3. All other changes in noncurrent account balances had a direct effect on cash flows, except the change in accumulated depreciation.Instructions(a) Prepare a statement of cash flows for 2012 using the indirect method.(b) Compute free cashflow.
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CASSANDRA CORPORATION Comparative Balance Sheets December 31 2012 2011 $ 15,200 $ 17,700 Cash Accounts receivable 25,200 22,300 Investments 20,000 16,000 Equipment Accumulated depreciation-equipment 60,000 70,000 (10,000) (14.000) $106,400 $116,000 Total $ 14.600 10,000 $ 11,100 Accounts payable Bonds payable Common stock Retained earnings 30,000 50,000 45.000 31.800 29,900 $106.400 $116.000 Total
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Accounting Principles
ISBN: 978-0470534793
10th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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