Question
Please help with this: Use a spreadsheet to create a Cash Flow Statement for Contest Company, for the year ended December 31, 2004. Additional Information:
Please help with this:
Use a spreadsheet to create a Cash Flow Statement for Contest Company, for the year ended December 31, 2004.
Additional Information:
The company had a net income of $60,000 in 2005.
Equipment depreciated $9,000 in 2005.
Equipment costing $21,000 was purchased.
Fully depreciated equipment that cost $3,000 was discarded; its cost and accumulated depreciation were removed from the accounts.
Fifteen hundred (1500) shares of stock were sold and issued at $12 per share.
The company declared $30,000 of cash dividends during the year and paid $21,000.
A) Create the Cash Flow statement using the format in the content page.
B) Comment on the company's financial performance with respect to major items affecting cash.
Here is an example of how a Cash Flow Statement looks:
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