The accounting records for R. Webber Associates, Inc., for the year ended April 30, 2010, contain the

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The accounting records for R. Webber Associates, Inc., for the year ended April 30, 2010, contain the following information:

a. Purchase of plant assets for cash, \($59,400

b.\) Proceeds from issuance of common stock, \($8,000

c.\) Payment of dividends, \($48,400

d.\) Collection of interest, \($4,400

e.\) Payment of salaries, \($93,600

f.\) Proceeds from sale of plant assets, \($22,400\) g. Collections from customers, \($620,500\) h. Cash receipt of dividend revenue, \($4,100\) i. Payments to suppliers, \($368,500\) j. Depreciation expense, \($59,900\) k. Proceeds from issuance of long-term notes, \($19,600\) l. Payments of long-term notes payable, \($50,000\) m. Interest expense and payments, \($13,300\) n. Income tax expense and payments, \($37,900\) o. Cash balances: April 30, 2009, \($39,300;\) April 30, 2010, \($47,200\) Requirement 1. Prepare R. Webber Associates’ statement of cash flows for the year ended April 30, 2010. Use the direct method for cash flows from operating activities.

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Financial Accounting

ISBN: 9780136060482

1st Edition

Authors: Jeffrey Waybright, Robert Kemp

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