Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Hi there, Can you help me( show the woking notes as well), please? Thank you Luc NGUYEN LTD Statement of Financial Position as at 31
Hi there,
Can you help me( show the woking notes as well), please?
Thank you
Luc NGUYEN LTD Statement of Financial Position as at 31 December Assets Cash Accounts receivable Inventory Land Equipment Accumulated depreciation TEOH Total assets 2014 $ 116000 170 000 360 000 160 000 520 000 (132 000) $1 194 000 2013 $ 44000 152 000 378 000 200 000 400 000 (84000) $ 1 090 000 3A9DAS Liabilities and Shareholders' equity Accounts payable Bonds payable Share capital Retained earnings Total liabilities and shareholders' equity $ 68 000 300 000 388 000 438 000 $1 194 000 $ 94000 400 000 328 000 268 000 $ 1 090 000 Additional information: 1. Profit for 2014 was $125 000. 2. Cash dividends of $80 000 were declared and paid. 3. Bonds payable amounting to $100 000 were redeemed for cash $100 000. 4. Ordinary shares were issued for $60 000 cash. 5. Depreciation expense was $48 000. 6. Sales for the year were $195 600. Required (a) Prepare a statement of cash flows for 2014 using the indirect method. (b) Calculate free cash flowStep 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