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I need help to prepare an indirect method of cash flow based on this balance sheet. Please provide me solutions with detailed explanations. Computer Balance
I need help to prepare an indirect method of cash flow based on this balance sheet. Please provide me solutions with detailed explanations.
Computer Balance Sheet 31-Jan-18 ASSETS 2013 2012 Change 37,870 CURRENT ASSETS Checking Petty Cash Accounts Receivable Office Supplies Prepaid Insurance Undeposited Funds Total current assets 49,272.46 92.21 17,650.00 625.00 2,612.50 0.00 70,252.17 22,565 500 11,402.46 92.21 (4,915.00) 125.00 2,612.50 $ 60,935 9,317.17 FIXED ASSETS - Net of Accumulated Depreciation Business Vehicles: Original Cost Accumulated Depreciation-Business Vehicles Office Furniture/Equipment: Cost Accumulated Depreciation-Equipment Total assets 49,000 8,050 $ 49,000.00 $ (583.00) $ 11,536.00 $ (142.00) $ 130,063.17 (8,633.00) 11,536.00 (142.00) 12,078.17 $ 117,985 LIABILITIES & EQUITY $ 3,764.00 850 2,914.00 CURRENT LIABILITIES Accounts Payable Loan Payable TOTAL CURRENT LIABILITIES 0 $ 3,764.00 850 2,914.00 LONG TERM LIABILITIES Loan Payable:Business Vehicles Loan Loan Payable: Office Furniture/Equipment Loan Total Long Term Liabilities TOTAL LIABILITIES $ $ $ $ 34,532.81 3,970.83 38,503.64 42,267.64 35,000 4,000 39,000 39,850 (467.19) (29.17) (496.36) 2,417.64 EQUITY Owner's equity Total stockholders' equity $ $ 87,795.53 87,795.53 78,135 78,135 9,660.53 9,660.53 Total liabilities and equity $ 130.063.17 $ 117,985 12,078.17Step by Step Solution
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