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Review Question 1: Prepare the financial statements, including the appropriate headings. Prepare the statement of cash flows using the indirect method. Company A Trial Balance

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Review Question 1: Prepare the financial statements, including the appropriate headings. Prepare the statement of cash flows using the indirect method. Company A Trial Balance Additional information Company issued shares for $3000 2There were no purchases of long term assets An asset with a net book value of $12,000 was sold Company retired a bond for $50,000 which was equal to the carrying value Opening balances were as follows: Cash 5,500 Accounts receivable, Net 39,000 Inventory 20,000 Accounts payable 27,500 PP&E 255,000 Accumulated depreciation 118,000 Review Question 2: On January 1, 2013 Company B issues S500.000,8%, 5 Year Bond, when market is paying 10%. Bond sells for 92.5, and pays interest annually. Provide the Journal Entry for the issuance of bond, and first two interest payments interest expense entries. Show the Balance Sheet presentation after December 31, 2014 payment for the bond section. Review Question 3: Review Question 1: Prepare the financial statements, including the appropriate headings. Prepare the statement of cash flows using the indirect method. Company A Trial Balance Additional information Company issued shares for $3000 2There were no purchases of long term assets An asset with a net book value of $12,000 was sold Company retired a bond for $50,000 which was equal to the carrying value Opening balances were as follows: Cash 5,500 Accounts receivable, Net 39,000 Inventory 20,000 Accounts payable 27,500 PP&E 255,000 Accumulated depreciation 118,000 Review Question 2: On January 1, 2013 Company B issues S500.000,8%, 5 Year Bond, when market is paying 10%. Bond sells for 92.5, and pays interest annually. Provide the Journal Entry for the issuance of bond, and first two interest payments interest expense entries. Show the Balance Sheet presentation after December 31, 2014 payment for the bond section. Review Question 3

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