Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Prepare the Cash flows from operating activities section of the statement of cash flows using the indirect method, 3Prepare the Cash flows from investing

image text in transcribedimage text in transcribed

Prepare the "Cash flows from operating activities" section of the statement of cash flows using the indirect method, 3Prepare the "Cash flows from investing activities" section of the statement of cash flows., 4Prepare the "Cash flows from financing activities" section of the statement of cash flows, 5Prepare a statement of cash flows. The comparative balance sheet of Harris Industries Inc. at December 31, 20Y4 and 20Y3, is as follows: Cash Accounts receivable (net). Inventories Prepaid expenses Land Buildings Assets Accumulated depreciation-buildings. Machinery and equipment, Accumulated depreciation-machinery and equipment. Dec. 31, 2014 Dec. 31, 2013 $443.240 665,280 887,880 $ 360,920 592.200 1,022,560 31,640 25,200 302,400 302,400 1,713,600 1,134,000 (466,200) (414,540) 781.200 781,200 (214200) (191,520) 106,960 112,000 54251,800 $3,724,420 Patents. Total assets Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) 5837,480 5 927,080 Dividends payable 32,760 25.200 I Salaries payable 78,960 87,060 Mortgage note payable, due in nine years. 224,000 Bonds payable 390,000 Common stock, 55 par. 200.400 50,400 Paid-in capital in excess of par-common stock 366,000 126.000 Retained earnings. 2,512.200 2,118,660 Total liabilities and stockholders' equity. 54251.800 53.724420

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals of Advanced Accounting

Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik

5th edition

978-0077924379, 77924371, 978-0078025396, 78025397, 978-0077425654, 77425650, 978-0077667061

More Books

Students also viewed these Accounting questions

Question

a. For fixed n, are there values of p (0 Answered: 1 week ago

Answered: 1 week ago