The 2012 comparative balance sheet and income statement of Attleboro Group, Inc. follow. Attleboro had no noncash
Question:
Requirement
1. Prepare the spreadsheet for the 2012 statement of cash flows. Format cash flows from operating activities by the indirectmethod.
Transcribed Image Text:
ATTLEBORO GROUP, INC. Comparative Balance Sheet December 31, 2012 and 2011 Increase 2012 2011 (Dccrease) Current assets: $ 11,800 $ 15,200 S (3,400) Cash and cash cquivalents Accounts receivable 42,200 43,900 (1,700) 96,800 93,500 Inventories 3,300 Plant asscts: Land 39,800 14,000 25,800 Equipment, net 101,100 93,800 7,300 $ 291,700 $ 260,400 $ 31,300 Total asscts Current liabilities: $ 25,100 $ 26,300 $ (1,200) Accounts payable Accrucd liabilitics 24,200 22,500 1,700 Long-term liabilities: Notes payable Stockholders' equity: 51,000 (13,000) 64,000 Common stock 136,600 128,300 8,300 Retained carnings 54,800 19,300 35,500 $ 291,700 $ 260,400 S 31,300 Total liabilities and stockholders' equity ATTLEBORO GROUP, INC. Income Statement Year Ended December 31, 2012 Revenues: $ 441,000 Sales revenue Interest revenue 11,300 $ 452,300 Total revenues Expenses: Cost of goods sold Salary expense Depreciation expensc Other operating cxpense S 205,300 76,500 15,100 49,600 Interest expense 24,700 Income tax expense 16,700 Total cxpenses 387,900 $ 64,400 Net income
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 70% (10 reviews)
Req 1 Attleboro Group Inc Spreadsheet for Statement of Cash Flows Indirect Method Year Ended Decembe...View the full answer
Answered By
Bhartendu Goyal
Professional, Experienced, and Expert tutor who will provide speedy and to-the-point solutions. I have been teaching students for 5 years now in different subjects and it's truly been one of the most rewarding experiences of my life. I have also done one-to-one tutoring with 100+ students and help them achieve great subject knowledge. I have expertise in computer subjects like C++, C, Java, and Python programming and other computer Science related fields. Many of my student's parents message me that your lessons improved their children's grades and this is the best only thing you want as a tea...
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Financial and Managerial Accounting
ISBN: 978-0132497978
3rd Edition
Authors: Horngren, Harrison, Oliver
Question Posted:
Students also viewed these Accounting questions
-
The 2012 comparative balance sheet and income statement of Rolling Hills, Inc., follow: Additionally, Rolling Hills purchased land of $23,600 by financing it 100% with long-term notes payable during...
-
The 2012 comparative balance sheet and income statement of Appleton Group, Inc., follow. Appleton had no noncash investing and financing transactions during 2012. Requirement 1. Prepare the...
-
The 2018 comparative balance sheet and income statement of Attleboro Group, Inc. follow. Attleboro disposed of a plant asset at book value in 2018. Prepare the spreadsheet for the 2018 statement of...
-
Refer to the information in Exercise 16-11. Using the direct method, prepare the statement of cash flows for the year ended June 30, 2017. IKIBAN INC. Comparatlve Balance Sheets June 30, 2017 and...
-
What are the three characteristics of property, plant, and equipment? In what respect are property, plant, and equipment similar to inventory? How are they different?
-
What are the PMBOK defined processes for the procurement management knowledge area?
-
On 31 October 2004, its balance sheet date, Sons and Daughters Ltd had issued share capital of 600,000 ordinary 1 shares and reserves of 340,000. Four years later, the share capital is unchanged but...
-
The income statement of Supplements Plus, Inc. follows: Additional data follow: a. Acquisition of plant assets is $121,000. Of this amount, $104,000 is paid in cash and $17,000 by signing a note...
-
On January 20, Whalen Inc., sold 8 million shares of stock in an SEO. The market price of Whalen at the time was $42.25 per share. Of the 8 million shares sold, 4 million shares were primary shares...
-
Futura Company purchases the 40,000 starters that it installs in its standard line of farm tractors from a supplier for the price of $8.40 per unit. Due to a reduction in output, the company now has...
-
Review the data from P14-27A. Requirement 1. Prepare the spreadsheet for Rolling Hills 2012 statement of cash flows. Format cash flows from operating activities by the indirectmethod. ROLLING HILLS,...
-
Review the data from P14-31B. Requirement 1. Prepare the spreadsheet for All Wireds 2012 statement of cash flows. Format cash flows from operating activities by the indirectmethod. ALL WIRED, INC....
-
Consider the following generalized geography game wherein the start node is the one with the arrow pointing in from nowhere. Does Player I have a winning strategy? Does Player II? Give reasons for...
-
What are entity relationship diagrams (ERDs) important in database design, even in smaller databases?
-
Budgeting is not just about numbers; it can significantly influence how an organization operates and how employees perceive their roles within it. Budgeting is a critical aspect of financial...
-
What industrial target (industry, business, or location) do you believe is the most inviting to a cyber attack and why ?
-
Describe the concept of a cost benefit analysis. Discuss how this is important to risk mitigation strategies. Develop and share an example illustrating how you would use cost benefit analysis (CBA)...
-
"Politics and the English Language" Reading Comprehension Questions Orwell's essay was a critique of vague, cliche, and pretentious diction; however, it is often misread as endorsement of...
-
What does INVEST stand for?
-
Derive Eq. (18.33) from Eq. (18.32).
-
A bank needs to store the following information: customer names, customer addresses, city of a branch, number of accounts, account IDs, and account balances. How many record types do you need to...
-
Boise Bike Corp. manufactures mountain bikes and distributes them through retail outlets in Montana, Idaho, Oregon, and Washington. Boise Bike Corp. had declared the following annual dividends over a...
-
Picasso Optics produces medical lasers for use in hospitals. The accounts and their balances appear in the ledger of Picasso Optics on November 30 of the current year as follows: Preferred 2% stock,...
-
Daley Welding Corporation sells and services pipe welding equipment in Illinois. The following selected accounts appear in the ledger of Daley Welding Corporation on May 1, 2012, the beginning of the...
-
BF Company has a cycle time of 2.0 days, uses a Raw and In Process account (RIP) and charges all conversion cost to Cost of Goods Sold. At the end of each month, all inventories are counted, their...
-
Identify a particular support function of a college (the library, for example). Discuss possible allocation bases that might be used to allocate costs in the function to programs (degrees) or...
-
minimum selling price. Surf Gear manufactures beach towels. The plant has a production capacity of 48,000 towels each month. Currently, the expected results of August are as follows: Per unit Total...
Study smarter with the SolutionInn App