Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Prepare a Statement of Cash flows using the Indirect Method with the following information Indirect Method MULDUR CORPORATION Comparative Balance Sheets 31-Dec 2010 Incr (Decr)
Prepare a "Statement of Cash flows" using the Indirect Method with the following information
Indirect Method MULDUR CORPORATION Comparative Balance Sheets 31-Dec 2010 Incr (Decr) $17,682 ($2,513) 22,308 $2,897 16,034 $3,951 69,999 ($10,005) 2011 Cash Accounts receivable Investments Equipment Accumulated depreciation Total $15,169 25,205 19,985 59,994 -14,039 -10,089 ($3,950) $115934($9,620) 106,314 Accounts payable Bonds payable Common stock Retained earnings Total $14,574 10,092 50,018 31,630 $106,314 $0 $11,052$3,522 29,985 ($19,893) 44,980 $5,038 29,917 $1,713 $115,934 ($9,620) 1. Net Income was $18,322 2. Equipment which cost $10,005 and had accumulated depreciation of $1,196 was sold for $3,262 3. All other changes in noncurrent account balances had a direct effect on cash flows, except the change in accumulated depreciation. Note: You have to calculate the gain/loss on disposal of equipment with info given Note: You have to calculate depreciation expense using Ending less Beginning plus disposal of Eq Note: You have to calculate dividends paid with given information. (Paid in Cash)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