Homework Help is Here – Start Your Trial Now!
Business
Accounting
statement of cash flow-

statement of cash flow-

Financial Accounting
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter16: Statement Of Cash Flows
Section: Chapter Questions
Problem 21E
See similar textbooks
icon
Related questions
Question
Using the financial data below, prepare a statement of cash flows for the year ended December 31, 2014 for Summer Peebles, Inc. using the indirect method. Summer Peebles, Inc. Income Statement Year Ending December 31, 2014 Sales Cost of Goods Sold Depreciation Expense Sales and General Expense Interest Expense Income Tax Expense Net Income Assets Cash Accounts Receivable, Net Inventory Current Assets Fixed Assets, Net Summer Peebles, Inc. Balance Sheets as of December 31, 2013 and 2014 Total Assets Liabilities and Equity Notes Payable to Banks Accounts Payable Interest Payable Current Liabilities Long-Term Debt Deferred Income Tax $1,000.00 Capital Stock -$650.00 -$100.00 -$100.00 -$50.00 -$40.00 $60.00 2013 $50.00 $500.00 $750.00 $1,300.00 $500.00 $1,800.00 $100.00 $590.00 $10.00 $700.00 $300.00 $300.00 $400.00 2014 $60.00 $520.00 $770.00 $1,350.00 $550.00 $1,900.00 $75.00 $615.00 $20.00 $710.00 $350.00 $310.00 $400.00
Transcribed Image Text:Using the financial data below, prepare a statement of cash flows for the year ended December 31, 2014 for Summer Peebles, Inc. using the indirect method. Summer Peebles, Inc. Income Statement Year Ending December 31, 2014 Sales Cost of Goods Sold Depreciation Expense Sales and General Expense Interest Expense Income Tax Expense Net Income Assets Cash Accounts Receivable, Net Inventory Current Assets Fixed Assets, Net Summer Peebles, Inc. Balance Sheets as of December 31, 2013 and 2014 Total Assets Liabilities and Equity Notes Payable to Banks Accounts Payable Interest Payable Current Liabilities Long-Term Debt Deferred Income Tax $1,000.00 Capital Stock -$650.00 -$100.00 -$100.00 -$50.00 -$40.00 $60.00 2013 $50.00 $500.00 $750.00 $1,300.00 $500.00 $1,800.00 $100.00 $590.00 $10.00 $700.00 $300.00 $300.00 $400.00 2014 $60.00 $520.00 $770.00 $1,350.00 $550.00 $1,900.00 $75.00 $615.00 $20.00 $710.00 $350.00 $310.00 $400.00
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Cash Flow Statement Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Financial Accounting
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Financial Accounting
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Managerial Accounting
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Financial Accounting: The Impact on Decision Make…
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
Financial And Managerial Accounting
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
SEE MORE TEXTBOOKS