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Question 1: (15 Marks) Prepare a statement of cash flows for the year ending December 31, 2020 for XYZ company December 31 2009 2010 Cash
Question 1: (15 Marks) Prepare a statement of cash flows for the year ending December 31, 2020 for XYZ company December 31 2009 2010 Cash $42,000 $63,000 Accounts receivable (net) 84,000 151,200 Inventory 168,000 201,600 Land 58,800 21,000 Equipment... 504,000 789,600 TOTAL $856.800 $1.226.400 Accumulated depreciation $84,000 $115,600 Accounts payable 50,400 86,000 Notes payable - Short-term.. 67,200 29,400 Notes payable - Long-term 168,000 302,400 Common stock 420,000 487 200 Retained earnings. 67 200 205.800 TOTAL $856.800 $1,226,400 Additional data for 2010: 1. Net income was $235,200. 2. Depreciation was $31,600. 3. Land was sold at 40,000 and its original cost 37,800. 4. Dividends of $96,600 were paid. 5. Equipment was purchased for $84,000 cash. 6. A long-term note for $201,600 was used to pay for an equipment purchase. 7. Common stock was issued to pay a $67,200 long-term note payable. Question 2: (5 Marks) Write 250 to 350 words about the types of fraud in business and fraud triangle
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