Judge Company has begun a worksheet for preparing a statement of cash flows. The following additional information is provided:

1. Cash dividends of $10,000 were paid during the year.
2. Land which originally cost $60,000 was sold for $52,000.
3. Common stock was issued at par value for cash.
Instructions
Complete the worksheet for Judge Company.

Transcribed Image Text:

JUDGE COMPANY Worksheet Statement of Cash Flows For the Year Ended December 31, 2013 Balance Reconciling Items Balance Balance Sheet Accounts 12/31/12 Debits Credits 12/31/13 Debits Cash 30,000 65,000 Accounts receivable 40,000 53,000 Inventory 90,000 110,000 -0- Land 60,000 Equipment 131,000 140,000 Total 351,000 368,000 Credits Accounts payable Bonds payable Accumulated depreciation- equipment 15,000 12,000 25,000 10,000 81,000 95,000 Common stock 170,000 180,000 Retained earnings 60,000 71,000 Total 351,000 368,000 Statement of Cash Flows Effects Operating activities Net income 21,000