The consolidated balance sheets for Lloyd Lumber Company at the beginning and end of 2015 follow. The
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The consolidated balance sheets for Lloyd Lumber Company at the beginning and end of 2015 follow. The company bought $50 million worth of fixed assets. The charge for depreciation in 2015 was $10 million. Net income was $33 million, and the company paid out $5 million in dividends.
a. Fill in the amount of the source or use in the appropriate column.
Lloyd Lumber Company:
Balance Sheets at Beginning and End of 2015 ($ million)
b. Prepare a statement of cash flows.
c. Briefly summarize yourfindings.
Transcribed Image Text:
Change Jan. Dec. 31 Source 5 Use Marketable securities Less: Accumulated depreciation25 35) 2 Other current liabilities 4 Retained earnings Total liabilities and equity Note: Total sources must equal total uses
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a Sources and Uses of Funds Analysis Depreciation is not a source of cash but it affects cash in the ...View the full answer
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my expertise are as follows: financial accounting : - journal entries - financial statements including balance sheet, profit & loss account, cash flow statement & statement of changes in equity -consolidated statement of financial position. -ratio analysis -depreciation methods -accounting concepts -understanding and application of all international financial reporting standards (ifrs) -international accounting standards (ias) -etc business analysis : -business strategy -strategic choices -business processes -e-business -e-marketing -project management -finance -hrm financial management : -project appraisal -capital budgeting -net present value (npv) -internal rate of return (irr) -net present value(npv) -payback period -strategic position -strategic choices -information technology -project management -finance -human resource management auditing: -internal audit -external audit -substantive procedures -analytic procedures -designing and assessment of internal controls -developing the flow charts & data flow diagrams -audit reports -engagement letter -materiality economics: -micro -macro -game theory -econometric -mathematical application in economics -empirical macroeconomics -international trade -international political economy -monetary theory and policy -public economics ,business law, and all regarding commerce
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