Here are comparative balance sheets for Taguchi Company. Additional information:1. Net income for 2010 was $103,000.2. Cash
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Here are comparative balance sheets for Taguchi Company.
Additional information:1. Net income for 2010 was $103,000.2. Cash dividends of $45,000 were declared and paid.3. Bonds payable amounting to $50,000 were redeemed for cash $50,000.4. Common stock was issued for $42,000 cash.5. No equipment was sold during 2010, but land was sold at cost.InstructionsPrepare a statement of cash flows for 2010 using the indirectmethod.
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TAGUCHI COMPANY Comparative Balance Sheets December 31 Assets 2010 2009 $ 73,000 85,000 $ 22,000 76,000 189,000 100,000 Cash Accounts receivable Inventories 170,000 75,000 Land Equipment Accumulated depreciation 260,000 200,000 (66,000) (32,000) Total $597,000 $555,000 Liabilities and Stockholders' Equity $ 39,000 $ 47,000 200,000 Accounts payable Bonds payable Common stock ($1 par) Retained earnings 150,000 216,000 174,000 192,000 134,000 $597,000 $555,000 Total
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Related Book For
Accounting Principles
ISBN: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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