This problem continues the Draper Consulting, Inc., situation from Problem 13-37 of Chapter 13. Refer to the
Question:
This problem continues the Draper Consulting, Inc., situation from Problem 13-37 of Chapter 13. Refer to the comparative balance sheet for Draper Consulting.
Requirement
1. Prepare the statement of cash flows using the indirectmethod.
Transcribed Image Text:
DRAPER CONSULTING, INC. Comparative Balance Sheet December 31, 2013 and 2012 2013 Assets 2012 $ 514,936 | $ 16,350 Cash Accounts receivable 37,500 1,750 Supplics 2,200 200 Equipment 16,000 1,800 4,200 Furniture 5,700 Building Accumulated deprcciation 125,000 (2,753) $ 698,583 | $ 24,200 (100) Total assets Liabilitics $ 10,000 $ 4,650 Accounts payable Salary payable Uncarned service revenue 4,100 685 700 Interest payable Notes payable Bonds payable Discount on bonds payable 10,667 0. 40,000 400,000 (36,184) Stockholders' Equity Common stock 130,000 18,000 Retained earnings 140,000 $ 698,583 165 $ 24,200 Total liabilities and stockholders' equity
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 85% (14 reviews)
Req 1 Draper Consulting Inc Statement of Cash Flows Year Ended December 31 2013 Cash flows from oper...View the full answer
Answered By
AJIN KURIAKOSE
I HAVE ELECTRONICS ENGINEERING DEGREE..AND MY AREA OF INTEREST IS MATHEMATICS,CONTROL SYSTEM,NETWORK,DIGITAL
4.70+
21+ Reviews
32+ Question Solved
Related Book For
Financial and Managerial Accounting
ISBN: 978-0132497978
3rd Edition
Authors: Horngren, Harrison, Oliver
Question Posted:
Students also viewed these Accounting questions
-
This problem continues the Draper Consulting, Inc., situation from Problem 11-34 of Chapter 11. After issuing the bonds in Chapter 11, Draper decides to raise additional capital for the planned...
-
Prepare a statement of cash flows using the indirect method. The income statement for 2017 and the balance sheets for 2017 and 2016 are presented for Harding Industries, Inc. Additional information...
-
This problem continues the Draper Consulting, Inc., situation from Problem 4-37 of Chapter 4. Draper performs systems consulting. Draper has also begun selling accounting software. During January,...
-
The Home Depot, Inc. (HD) operates over 2,200 home improvement retail stores and is a competitor of Lowe's (LOW). The following data (in millions) were adapted from recent financial statements of The...
-
Cuono Mining Co. purchased a mine for $6.5 million that is estimated to have 25 million tonnes of ore and a residual value of $500,000. In the first year, 5 million tonnes of ore are extracted and 3...
-
In an article in the Journal of Advertising, Weinberger and Spotts compare the use of humor in television ads in the United States and in the United Kingdom. Suppose that independent random samples...
-
Analyze a scatter plot (Learning Objectives 3, 4)} The local Holiday Inn collected seven months of data on the number of room-nights rented per month and the monthly utilities cost. The data was...
-
Apex Fitness Club uses straight- line depreciation for a machine costing $ 23,860, with an estimated four-year life and a $ 2,400 salvage value . At the beginning of the third year, Apex determines...
-
(1 point) Sketch the graph of f (x) = Ix+7 -7
-
Richard chooses technique 0 and 2 requiring 10+10-20 efforts and provising 10+11=21 benefits. Hence, 21 is returned as the output Example 2: input1: 3 input2: (10,10,10,10) input3: (10,11,12,15)...
-
This exercise continues the Lawlor Lawn Service, Inc., situation from Exercise 13-36 of Chapter 13. Refer to the comparative balance sheet for Lawlor Lawn Service. Requirement 1. Prepare the...
-
The 2014 comparative income statement and the 2014 comparative balance sheet of Golf America, Inc., have just been distributed at a meeting of the companys board of directors. The members of the...
-
Sketch the solid whose volume is given by the iterated integral and rewrite the integral using the indicated order of integration. Rewrite using the order dx dy dz. /y-4x SEC J0 J2x JO dz dy dx
-
List the five major steps needed to use a random number table. Explain how each step would be performed to select 15 accounts for confirmation from a listing of eight pages of accounts receivable...
-
Blake Advertising pays Amanda Hilton \($108,000\) per year. Hilton works 2,000 hours per year. Requirements 1. What is the hourly cost to Blake Advertising of employing Hilton? 2. What direct labor...
-
You purchase \($2,000\) worth of six-month US Treasury bills on the secondary market with a quoted yield per annum of 0.44 per cent. The bills have 24 days to maturity. How much would you pay? Use...
-
Assume that the clients internal controls over the recording and classifying of permanent asset additions are considered weak because the person responsible for recording new acquisitions has...
-
On 1 March 2011 a company raises finance by agreeing a six-month eurodollar loan for \($12\) million offered at an interest rate of 2.75 per cent. Calculate the cost of the loan in dollars. (a) on a...
-
Use the matrices of Problem 1 and the following command to generate 200 observations from the VMA(1) model, \(\boldsymbol{z}_{t}=\boldsymbol{a}_{t}-\boldsymbol{C} \boldsymbol{a}_{t-1}\), where...
-
Place a tick in the appropriate grid to identify the balance that would be brought down in each of the following named accounts, in the books of Rizwy Mohamed: (a) In the Cash account: if Rizwy...
-
Consider the following query: Which of the following answers is correct? SELECT * FROM PRODUCT WHERE PRODTYPE='red' ORDER BY AVAILABLE_QUANTITY DESC, PRODNAME
-
Bailey Mills recently won the jackpot in the New Jersey lottery while he was visiting his parents. When he arrived at the lottery office to collect his winnings, he was offered the following three...
-
Which type of cost system, process or job order, would be best suited for each of the following: (a) TV assembler, (b) Building contractor, (c) Automobile repair shop, (d) Paper manufacturer, (e)...
-
Which type of cost system, process or job order, would be best suited for each of the following: (a) TV assembler, (b) Building contractor, (c) Automobile repair shop, (d) Paper manufacturer, (e)...
-
A bond with a face value of RM 1 , 0 0 0 , due for redemption at par on Decem - ber 1 , 1 9 9 8 . The bond issues semiannual coupons at a rate of i ( 2 ) = 9 % , purchased on June 1 , 1 9 9 6 ....
-
List the postulates in auditing that assist an auditor with solving problems. Considering that an auditor must have the ability to solve problems and must be able to provide a solution. ( 1 0 marks )
-
Beginning Balances for Year 2 were as follows: \ table [ [ Account , Amount ] , [ Cash , $ 2 6 , 0 0 0
Study smarter with the SolutionInn App