Refer to the information for Roberts Company below: At the end of 2014, Roberts purchased some additional
Question:
At the end of 2014, Roberts purchased some additional equipment for $20,000
Required:
Prepare a statement of cash flows using the indirect method?
Transcribed Image Text:
Roberts Company Balance Sheets At September 30,2013 and 2014 2013 2014 Assets Cash Accounts receivable Inventory Plant and equipment Accumulated depreciation $ 23,000 7,600 20,800 40,000 (10,000) $ 81,400 $ 7,000 9,600 18,000 60,000 (16,000) $ 78,600 Total assets 2013 2014 Liabilities and equity Accounts payable Wages payable Common stock Retained earnings $ 4,800 1,200 50,000 25,400 $81,400 $ 3,200 800 50,000 24,600 $78,600 Total liabilities and equity Roberts Company Income Statement For the Year Ended September 30, 2014 Sales Less: Cost of goods sold $40,000 S 20,800 26,000 (18,000 Beginning inventory Ending inventory Less: Wages expense Less: Advertising Less: Depreci (28,800) (4,000) (2,000) (6,000) $ (800) ation expense Net Income (Loss)
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 72% (11 reviews)
Cash flow statement Cash flow statement is one of the important and mandatory reports from the compa...View the full answer
Answered By
Muhammad Umair
I have done job as Embedded System Engineer for just four months but after it i have decided to open my own lab and to work on projects that i can launch my own product in market. I work on different softwares like Proteus, Mikroc to program Embedded Systems. My basic work is on Embedded Systems. I have skills in Autocad, Proteus, C++, C programming and i love to share these skills to other to enhance my knowledge too.
3.50+
1+ Reviews
10+ Question Solved
Related Book For
Cornerstones of managerial accounting
ISBN: 978-1133943983
5th edition
Authors: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Question Posted:
Students also viewed these Managerial Accounting questions
-
The following financial statements were provided by Roberts Company: At the end of 2016, Roberts purchased some additional equipment for $20,000. Required: Prepare a statement of cash flows using the...
-
Refer to the information for Blalock Company above. The following balance sheets were taken from the records of Blalock Company: Additional transactions were as follows: a. Sold equipment costing...
-
Refer to the information for Lunarica Corporation below. Information for Lunarica Lunarica Corporation has the following comparative financial statements: Dividends of $5,700 were paid. No equipment...
-
Solve each system. If a system is inconsistent or has dependent equations, say so. -5x + 2y = -4 6x + 3y = -6
-
What is the purpose of accounting? How does accounting accomplish that purpose?
-
Table A shows a balance sheet for a certain company. All quantities shown are in millions of dollars. What is the company's net working capital (in millions)? Note: Express your answers in strictly...
-
Service robots in hotels. To increase efficiency and reduce labor costs, many hotels now employ service robots to interact with their guests. Hotel guests perceptions of the service quality of these...
-
Dominick Corporation is authorized to issue 10,000 shares of $40 par value, 10% preferred stock and 200,000 shares of $5 par value common stock . On January 1, 2012, the ledger contained the...
-
True or False? In any given year of an asset's life, its depreciation expense is equal to the book value (from the end of the previous year) times the appropriate MACRS rate for the year.
-
The AND-OR-GRAPH-SEARCH algorithm in Figure 4.11 checks for repeated states only on the path from the root to the current state. Suppose that, in addition, the algorithm were to store every visited...
-
Tidwell Company experienced the following during 2013: a. Sold preferred stock for $480,000. b. Declared dividends of $150,000 payable on March 1, 2014. c. Borrowed $575,000 from bank on a 2-year...
-
Refer to the information for Rosie-Lee Company below. Additional transactions were as follows: a. Sold equipment costing $21,600 with accumulated depreciation of $16,200 for $3,600. b. Issued bonds...
-
The following table gives the percentage of first-year students who were accepted by their first-choice college in recent years. (a) Use the method of least squares to obtain the straight line that...
-
An epidemiologist plans to conduct a survey to estimate the percentage of women who give birth. How many women must be surveyed in order to be 90% confident that the estimated percentage is in error...
-
Palmerstown Company established a subsidiary in a foreign country on January 1, Year 1, by investing 8,000,000 pounds when the exchange rate was $1.00/pound. Palmerstown negotiated a bank loan of...
-
Question 1.Which of the following plans provide the greatest immediate tax benefit for the participating employee? (1) Roth IRA (2) deductible IRA (3) non-deductible IRA (4) 401(k) a. (1) and (3)...
-
Transcribed image text: 9:13 LTE Done 7 of 7 QUESTION WA AUDION QUESTION 23 = w the tons of a coin comes down heads, you win two dollars. If it comes down tails, you lose fifty cents. How much would...
-
TRUE or FALSE It is 2016 and the D.C. Circuit has issued its ruling in USTA v. FCC . The D.C. Circuit upheld the 2015 Open Internet Order so the FCC's net neutrality rule stands.True or...
-
Examine the nature of managerial activity within your own university/college. a. Explain clearly those factors which distinguish the general nature of management from that in other (private sector)...
-
Which of the following is FALSE regarding the purchasing power parity (PPP). a. The PPP is a manifestation of the law of one price b. The PPP says that a country with a higher expected inflation can...
-
Explain how CVP analysis developed for single products can be used in a multiple product setting.
-
Since break-even analysis focuses on making zero profit, it is of no value in determining the units a firm must sell to earn a targeted profit. Do you agree or disagree with this statement? Why?
-
How does targeted profit enter into the break-even units equation?
-
Question 7 of 7 0/14 W PIERDERY Current Attempt in Progress Your answer is incorrect Buffalo Corporation adopted the dollar value LIFO retail inventory method on January 1, 2019. At that time the...
-
Cost of debt with fees . Kenny Enterprises will issue a bond with a par value of $1,000, a maturity of twenty years, and a coupon rate of 9.9% with semiannual payments, and will use an investment...
-
Assume that an investment of $100,000 is expected to grow during the next year by 8% with SD 20%, and that the return is normally distributed. Whats the 5% VaR for the investment? A. $24,898 B....
Study smarter with the SolutionInn App