Question 6 [25 points]

Vision Consulting Inc. began operations on January 1, 2013. Its adjusted trial balance at December 31, 2014 and 2015 is shown below. Other information regarding Vision Consulting Inc. and its activities during 2015 follow in (a) through (e) :

Question 6 [25 points) Vision Consulting Inc. began operations on January 1, 2013. Its adjusted trial balance at December 31, 2014 and 2015 is shown below. Other information regarding Vision Consulting Inc. and its activities during 2015 follow in (a) through (e): a. Assume all accounts have normal balances. b. Equipment was sold for cash of $21,400. c. Old machinery was sold for cash of $61,700. New machinery was purchased for $29,000 cash. d. Share capital was issued for cash. e. Cash dividends were declared and paid. Using the information provided, prepare a statement of cash flows (using the indirect method) for the year ended December 31, 2015. (select one) Statement of Cash Flows (select one) 2015 2014 X Vision Consulting Inc. Adjusted Trial Balance December 31 Account Accounts Payable 57,660 49,000 Accounts Receivable 110,800 99,125 Accumulated Depreciation, Equipment 3,400 88,500 Accumulated Depreciation, Machinery. 5,400 59.000 Allowance for Doubtful Accounts 9,800 12,125 Depreciation Expense, Equipment 7,300 7,300 Depreciation Expense, Machinery 8,600 8,600 Cash 357,810 280,000 Cash Dividends. 34,000 34,000 Equipment 30,600 145,000 Machinery 50,800 144,000 Merchandise Inventory 73,860 65,500 Long-term Notes Payable 66,240 87,000 Other Expenses (including losses). 630,000 15,000 Retained earnings 55,000 51,000 Revenues (including gains). 672,900 68,900 Share capital 381,000 341,000 Uneamed Revenue 52,370 42.000