ACCOUNT 249 Chapter 14: Bamboo Flooring Corp. Statement of Cash Flows

Bamboo Flooring Corp is a small manufacturer of high-end bamboo flooring. The CFO has provided you the following income statement, balance sheet, and other transaction data. You have been asked to prepare a statement of cash flows, including footnotes, using the indirect method.

Additional information

Equipment sold during the year

Selling price 8,000

Original cost 20,000

Accumulated depreciation 10,000

Long-term investments sold during the year

Selling price 30,000

Original cost 20,000

Bamboo Flooring Corp. traded a small piece of vacant land on the north east side of it's factory for a small piece of real estate on the south east side of its factory with a neighboring business to settle a property line dispute. Bamboo Flooring Corp. will build a maintenance building on its newly acquired property for the grounds crew next year.

Bamboo Flooring Corp Comparative Balance Sheet As of December 31, 2016 and 2017 Assets 2017 2016 Current Assets Cash 18,000 110,000 140,000 5,000 273,000 50,000 430,000 60,000 370,000 693,000 21,000 80,000 90,000 9,000 200,000 70,000 300,000 50,000 250,000 520,000 Accounts receivable Inventory Prepaid expenses Total current assets Long-term investments Property Plant & Equipment Less accumulated depreciation Net Property Plant & Equipment Total Assets Liabilities and Stockholders' Equity Currentliabilities Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders' equity 123,000 8,000 20,000 151,000 70,000 221,000 60,000 17,000 12,000 89,000 89,000 Common Stock 366,000 106,000 472,000 693,000 346,000 85,000 431,000 520,000 Retained earnings Total stockholders' equity Total liabilities and stockholders' equity