Net Sales Cost of goods sold Cross Profit ...... Operating expense. Net income Required: Prepare a statement of cash flows (indirect method) for the year ended December 31, Year 2015 ******* 191250 (135000) 56250 ***** (33750) 22500

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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EXERCISE/ 3 :
The following is The balance sheets of Baghdad Corporation for the years 2014
,2015 and the income statement for 2015:
Baghdad CORPORATION
Balance Sheets
December 31, Year 2014 and Year 2015
Item (Amounts in thousands of dinars)
Assets:
Cash
Accounts receivable
Inventories
Buildings
Accumulated depreciation
Total assets
Liabilities and Equity :
Accounts payable
long term loans
Equity capital
Retained earnings
Total liabilities and equity
31/12/2014
4500
9000
24750
112500
(22500)
128250
27000
90000
11250
128250
191250
31/12/2015
Baghdad CORPORATION
Income Statement
For Year Ended December 31, Year 92012
(135000)
56250
6750
11250
22500
135000
(33750)
141750
(33750)
22500
11250
22500
90000
18000
141750
Net Sales
Cost of goods sold
Cross Profit
Operating expense
Net income
Required: Prepare a statement of cash flows (indirect method) for the year ended
December 31, Year 2015
Transcribed Image Text:EXERCISE/ 3 : The following is The balance sheets of Baghdad Corporation for the years 2014 ,2015 and the income statement for 2015: Baghdad CORPORATION Balance Sheets December 31, Year 2014 and Year 2015 Item (Amounts in thousands of dinars) Assets: Cash Accounts receivable Inventories Buildings Accumulated depreciation Total assets Liabilities and Equity : Accounts payable long term loans Equity capital Retained earnings Total liabilities and equity 31/12/2014 4500 9000 24750 112500 (22500) 128250 27000 90000 11250 128250 191250 31/12/2015 Baghdad CORPORATION Income Statement For Year Ended December 31, Year 92012 (135000) 56250 6750 11250 22500 135000 (33750) 141750 (33750) 22500 11250 22500 90000 18000 141750 Net Sales Cost of goods sold Cross Profit Operating expense Net income Required: Prepare a statement of cash flows (indirect method) for the year ended December 31, Year 2015
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