Answered step by step
Verified Expert Solution
Question
1 Approved Answer
How do you create a cash flow statement with the information provided? The numbers will not add up but that is fine I am mostly
How do you create a cash flow statement with the information provided?
Below is a list of accounts for Allied Construction, LLC. using this information for the year ended December 31, 2016. Year End Year End 2016 2015 Cash 510,000 482,000 185,000 195,000 Accounts receivable 682,000 750,000 Equipment Accumulated Depreciation Equip 134,000 195,000 Building 9,040,000 9,802,000 Accumulated Depreciation Bldg. 1,003,000 1,877,000 Accounts payable 35,000 22,000 Bond payable (due date 2015 4,927,000 4,927,000 Common Stock 561,000 650,000 Dividends 88,000 Retained Earnings 376,000 Service Revenue 4,118,000 Wage expense 545,000 191,000 Rent expense Utilities expense 37,000 16,000 Supplies expense 8,000 Depreciation expense Gain on sale of equipment 12,000 Loss on sale of building 35,000 Hint: How is gain/ loss determind? Cash received from sale of equipm Cash received from sale of buildini The numbers will not add up but that is fine I am mostly concerned on the general formatting and having the correct components
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