Net Income of $34000 was reported and Dividend of $13000 were paid in 2010. New Equipment...

 

 

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Net Income of $34000 was reported and Dividend of $13000 were paid in 2010. New Equipment was purchased and none was sold. Requirement: Prepare Statement of Cash Flow for the year 2010. Question No. 3: Assets Equipment Less: Accumulated depreciation Accounts receivable Cash Total Equity and Liabilities Share capital ordinary Retained earnings Accounts payable Total Abbey INC. Balance Sheet Dec. 31, 2010 $39,000 -17,000 $ 91000 45,000 $158,000 100000 38,000 20,000 $158,000 Jan. 1, 2010 Inc./Dec. $17,000 Inc. 6,000 Inc. 88,000 3,000 Inc. 13,000 32,000 Inc. $112,000 $80,000 20,000 Inc. 17,000 21,000 Inc. 15,000 5,000 Inc. $22,000 (11,000) (9 Marks) $112,000 Net Income of $34000 was reported and Dividend of $13000 were paid in 2010. New Equipment was purchased and none was sold. Requirement: Prepare Statement of Cash Flow for the year 2010. Question No. 3: Assets Equipment Less: Accumulated depreciation Accounts receivable Cash Total Equity and Liabilities Share capital ordinary Retained earnings Accounts payable Total Abbey INC. Balance Sheet Dec. 31, 2010 $39,000 -17,000 $ 91000 45,000 $158,000 100000 38,000 20,000 $158,000 Jan. 1, 2010 Inc./Dec. $17,000 Inc. 6,000 Inc. 88,000 3,000 Inc. 13,000 32,000 Inc. $112,000 $80,000 20,000 Inc. 17,000 21,000 Inc. 15,000 5,000 Inc. $22,000 (11,000) (9 Marks) $112,000

Answer rating: 100% (QA)

Net Income 3400000 Add Depreciation 17000 11000 600000 Add Increase in account payabl... View the full answer