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

statement of cash flow-

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS