Refer to the information for Roberts Company below: At the end of 2014, Roberts purchased some additional
Question:
At the end of 2014, Roberts purchased some additional equipment for $20,000
Required:
Prepare a statement of cash flows using the indirect method?
Transcribed Image Text:
Roberts Company Balance Sheets At September 30,2013 and 2014 2013 2014 Assets Cash Accounts receivable Inventory Plant and equipment Accumulated depreciation $ 23,000 7,600 20,800 40,000 (10,000) $ 81,400 $ 7,000 9,600 18,000 60,000 (16,000) $ 78,600 Total assets 2013 2014 Liabilities and equity Accounts payable Wages payable Common stock Retained earnings $ 4,800 1,200 50,000 25,400 $81,400 $ 3,200 800 50,000 24,600 $78,600 Total liabilities and equity Roberts Company Income Statement For the Year Ended September 30, 2014 Sales Less: Cost of goods sold $40,000 S 20,800 26,000 (18,000 Beginning inventory Ending inventory Less: Wages expense Less: Advertising Less: Depreci (28,800) (4,000) (2,000) (6,000) $ (800) ation expense Net Income (Loss)
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Related Book For
Cornerstones of managerial accounting
ISBN: 978-1133943983
5th edition
Authors: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
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