Accounts receivable Inventories Prepaid expenses Land Plant and equipment Cars December 31, Year 2011 and Year 2012 31/12/2011 Item (Amounts in millions of dinars) Assets: Cash Accumulated depreciation Patented Total assets Liabilities and Equity : Accounts payable Accrued expenses long term loans Sahre capital Share premium Retained earnings Total liabilities and equity Balance Sheets Net Sales Cost of goods sold...... Cross Profit Operating expense Net income ****** 144 198 336 24 160 300 200 (183) 120 1299 261 198 285 450 105 1299 31/12/2012 (114) 90 162 180 330 27 286 500 150 (258) 105 1482 225 204 900 18 135 1482 Al-Iraq CORPORATION Income Statement For Year Ended December 31, Year 92012 396 (192) 204 Additional information: 1. The CORPORATION issued shares to increase its capital by 45 millions dinars 2. Share premium is related to the new share Required: Prepare a statement of cash flows (indirect method) for the year ended December 31, Year 2012

Accounts receivable Inventories Prepaid expenses Land Plant and equipment Cars December 31, Year 2011 and Year 2012 31/12/2011 Item (Amounts in millions of dinars) Assets: Cash Accumulated depreciation Patented Total assets Liabilities and Equity : Accounts payable Accrued expenses long term loans Sahre capital Share premium Retained earnings Total liabilities and equity Balance Sheets Net Sales Cost of goods sold...... Cross Profit Operating expense Net income ****** 144 198 336 24 160 300 200 (183) 120 1299 261 198 285 450 105 1299 31/12/2012 (114) 90 162 180 330 27 286 500 150 (258) 105 1482 225 204 900 18 135 1482 Al-Iraq CORPORATION Income Statement For Year Ended December 31, Year 92012 396 (192) 204 Additional information: 1. The CORPORATION issued shares to increase its capital by 45 millions dinars 2. Share premium is related to the new share Required: Prepare a statement of cash flows (indirect method) for the year ended December 31, Year 2012

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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