Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A-2.2 The following are the comparative balance sheets for Wilson Sports Limited. Wilson Sports Limited Balance Sheet December 31, 2010 December 31, 2009 500,000 600,000
A-2.2 The following are the comparative balance sheets for Wilson Sports Limited. Wilson Sports Limited Balance Sheet December 31, 2010 December 31, 2009 500,000 600,000 1,200,000 50,000 2.350,000 600,000 450,000 1,000,000 62,000 2.112.000 170,000 170,000 Assets Current assets Cash Accounts receivable Inventory Prepaid insurance Total current assets Property, plant, and equipment Land Building Less: Accum. depreciation-Building Building, net Machinery Less: Accum. depreciation-Machinery Machinery, net Total P.P.E. Intangible assets Copyrights 500,000 (125,000) 400,000 (100,000) 375,000 300,000 325,000 (120,000) 285,000 (105,000 180,000 205,000 750,000 650,000 63,000 44,000 3.144,000 Total assets 2,825,000 346,000 50,000 420,000 20.000 396,000 440,000 Current liabilities Accounts payable Unearned revenues Tota current liabilities Long-term liabilities Bonds payable Bank loans payable Total long term liabilities 1,000,000 400,000 1.200,000 100,000 1,400,000 1,300,000 Total liabilities 1.796,000 1,740,000 Shareholders equity Common shares Retained earnings Total shareholders equity 1,000,000 348,000 800,000 285,000 1 348,000 1,085,000 Total liabilities and shareholders equity 3.144,000 2,825,000 CONDI LINDOWS CODE De 700, Nachine wason 20.000 were soorte in 2010, hanno 2019 de Bernardo vendes and in 2011 Required: (a) Prepare the cash flow statement for 2010 for Wilson Sports Limited. (b) Prepare a short summary using the cash flow statement of Wilson's activities in 2010
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started