Refer to the information for Booth Manufacturing below. Required: Calculate operating cash flows using the direct method.
Question:
Refer to the information for Booth Manufacturing below.
Required:
Calculate operating cash flows using the direct method.
Transcribed Image Text:
Booth Manufacturing Comparative Balance Sheets At December 31, 2011 and 2012 2011 2012 $112,500 $ 350,000 281,250 150,000 1,000,000 ,025,000 (500,000) (525,000] 500,000 718,750 $1,587,500 $2,000,000 Accounts receivable 350,000 125,000 Plant and Accumulated depreciation Liabilties and equity Accounts payable $ 300,000 237,500 250,000 75,000 300,000 912,500 1,137,500 $1.587500 $2,000,000 75,000 300,000 Paidin capital in excess of par Retained eamings Total liabilities and equity Booth Manufacturing Income Statement For the Year Ended Deaember 31, 2012 Revenues Gain on sale of equipment Less: Cost of goods sold Less: Depreciation expense Less: Interest expense $1,200,000 50,000 640,000 (125,000) 35,00 450,000 Net income
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Related Book For
Cornerstones Of Managerial Accounting
ISBN: 9780538473460
4th Edition
Authors: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
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