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Instructions: Prepare a statement of cash flows for 2010.

Instructions: Prepare a statement of cash flows for 2010.

FINANCIAL ACCOUNTING
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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Test2 Intermediate Accounting - Word (Product Activation Failed) NSERT DESIGN PAGE LAYOUT REFERENCES MAILINGS REVIEW VIEW Times New Ro - -A A Aa - AaBbCcl AaBt AaBbC AaBbCel AaBbCcl AaBbCc) AaBbCc IU-abe x, x A - *- A- ====- Emphasis THeading 1 THeading 3 THeading 6 1 Normal Strong Subtitle Font Paragraph December 31 Styles Assets 2010 2009 Cash Accounts receivable $73,000 85,000 170,000 75,000 260,000 (66,000) $ 22,000 76,000 189,000 100,000 200,000 (32,000) Inventories Land Equipment Accumulated depreciation Total $597,000 $555,000 Liabilities and Stockholders' Equity $ 39,000 Accounts payable Bonds payable Common stock ($1 par) Retained earnings $ 47,000 150,000 216,000 192,000 $597,000 200,000 174,000 134,000 $555,000 Total Additional information: 1. Net income for 2010 was $103,000. 2. Cash dividends of $45,000 were declared and paid 3. Bonds payable amounting to $50,000 were redeemed for cash $50,000. 4. Common stock was issued for $42,000 cash. 5. No equipment was sold during 2010, but land was sold at cost. Activate 910 Se Instructions: Prepare a statement of cash flows for 2010.
Transcribed Image Text:Test2 Intermediate Accounting - Word (Product Activation Failed) NSERT DESIGN PAGE LAYOUT REFERENCES MAILINGS REVIEW VIEW Times New Ro - -A A Aa - AaBbCcl AaBt AaBbC AaBbCel AaBbCcl AaBbCc) AaBbCc IU-abe x, x A - *- A- ====- Emphasis THeading 1 THeading 3 THeading 6 1 Normal Strong Subtitle Font Paragraph December 31 Styles Assets 2010 2009 Cash Accounts receivable $73,000 85,000 170,000 75,000 260,000 (66,000) $ 22,000 76,000 189,000 100,000 200,000 (32,000) Inventories Land Equipment Accumulated depreciation Total $597,000 $555,000 Liabilities and Stockholders' Equity $ 39,000 Accounts payable Bonds payable Common stock ($1 par) Retained earnings $ 47,000 150,000 216,000 192,000 $597,000 200,000 174,000 134,000 $555,000 Total Additional information: 1. Net income for 2010 was $103,000. 2. Cash dividends of $45,000 were declared and paid 3. Bonds payable amounting to $50,000 were redeemed for cash $50,000. 4. Common stock was issued for $42,000 cash. 5. No equipment was sold during 2010, but land was sold at cost. Activate 910 Se Instructions: Prepare a statement of cash flows for 2010.
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