Rojas Corporations comparative balance sheets are presented below. Additional information: 1. Net income was $22,630. Dividends declared
Question:
Rojas Corporation’s comparative balance sheets are presented below.
Additional information:
1. Net income was $22,630. Dividends declared and paid were $19,500.
2. All other changes in noncurrent account balances had a direct effect on cash flows, except the change in accumulated depreciation. The land was sold for $4,900.
Instructions
(a) Prepare a statement of cash flows for 2014 using the indirect method.
(b) Compute free cashflow.
Transcribed Image Text:
ROJAS CORPORATION Comparative Balance Sheets December 31 2014 2013 Cash Accounts receivable Land Buildings Accumulated depreciation-buildings 14,300 21,200 20,000 70,000 (15,000) $110,500 $10,700 23,400 26,000 70,000 (10,000) $120,100 Total Accounts payable Common stock Retained earnings S 12,370 75,000 23,130 $110,500 31,100 69,000 20,000 $120,100 Total
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Related Book For
Accounting Principles
ISBN: 9781118566671
11th Edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
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