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I need help with these two assignment. They are due in a couple days. Thank you. The following information is available for Ramos Corporation for
I need help with these two assignment. They are due in a couple days. Thank you.
The following information is available for Ramos Corporation for the year ended December 31, 2014. Beginning cash balance Accounts payable decrease Depreciation expense Accounts receivable increase Inventory increase Net income Cash received for sale of land at book value Cash dividends paid Income taxes payable increase Cash used to purchase building Cash used to purchase treasury stock Cash received from issuing bonds $ 98,370 8,088 354,132 17,925 24,046 621,043 76,510 26,232 10,274 631,754 56,836 437,200 Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) RAMOS CORPORATION Statement of Cash FlowsIndirect Method For the Year Ended December 31, 2014 $ Adjustments to reconcile net income to $ $ Exercise 12-5 The current sections of Sanford Inc.'s balance sheets at December 31, 2013 and 2014, are presented here. Sanford's net income for 2014 was $477,054. Depreciation expense was $84,186. 2014 2013 Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets $327,390 249,440 523,824 84,186 $1,184,840 $ 308,682 277,502 536,296 68,596 $1,191,076 $ 46,770 265,030 $311,800 $ 15,590 286,856 $ 302,446 Current liabilities Accrued expenses payable Accounts payable Total current liabilities Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2014, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) SANFORD INC. Partial Statement of Cash Flows For the Year Ended December 31, 2014 $ Adjustments to reconcile net income to $ $Step by Step Solution
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