Question
Question No. 4: (10 Marks) A Comparative Statement of Financial Position for Vivaldi Corporation is given below; Dec-31 Assets 2010 2009 Land $71,000 $110,000 Equipment
Question No. 4: (10 Marks)
A Comparative Statement of Financial Position for Vivaldi Corporation is given below;
| Dec-31 | |
Assets | 2010 | 2009 |
Land | $71,000 | $110,000 |
Equipment | 270,000 | 200,000 |
Accumulated depreciationequipment | -69,000 | -42,000 |
Inventories | 180,000 | 189,000 |
Accounts receivable | 82000 | 66,000 |
Cash | 63,000 | 22,000 |
Total | $597,000 | $545,000 |
Equity and Liabilities |
|
|
Share capitalordinary ($1 par) | $214,000 | $164,000 |
Retained earnings | 199,000 | 134,000 |
Bonds payable | 150,000 | 200,000 |
Accounts payable | 34,000 | 47000 |
Total | $597,000 | $545,000 |
Additional Information
- Net Income for 2010 was $105000
- Cash Dividend of $40000 were declared and paid
- Bonds payable amounting to $50000 were retired.
Requirement:
Prepare Statement of Cash Flow for the year 2010.
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