Resources: Ch. 13 & 14 of Financial Accounting Complete Exercises E13-8 & E14-3. Submit as a…


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Resources: Ch. 13 & 14 of Financial Accounting Complete Exercises E13-8 & E14-3. Submit as a… 1 answer below » Resources: Ch. 13 & 14 of Financial Accounting Complete Exercises E13-8 & E14-3. Submit as a Microsoft® Excel or Word® document. Additional Requirements Level of Detail: Only answer needed Document Preview: Instructions
(a) Prepare a statement of cash flows for 2011 using the indirect method.
(b) Compute free cash flow.
E13-8 Here are comparative balance sheets for Taguchi Company.
SCULLY CORPORATION
Comparative Balance Sheets
December 31
2011 2010
Cash $ 14,300 $ 10,700 View complete question » Resources: Ch. 13 & 14 of Financial Accounting Complete Exercises E13-8 & E14-3. Submit as a Microsoft® Excel or Word® document. Additional Requirements Level of Detail: Only answer needed Document Preview: Instructions
(a) Prepare a statement of cash flows for 2011 using the indirect method.
(b) Compute free cash flow.
E13-8 Here are comparative balance sheets for Taguchi Company.
SCULLY CORPORATION
Comparative Balance Sheets
December 31
2011 2010
Cash $ 14,300 $ 10,700
Accounts receivable 21,200 23,400
Land 20,000 26,000
Building 70,000 70,000
Accumulated depreciation (15,000) (10,000)
Total $110,500 $120,100
Accounts payable $12,370 $31,100
Common stock 75,000 69,000
Retained earnings 23,130 20,000
Total $110,500 $120,100
TAGUCHI COMPANY
Comparative Balance Sheets
December 31
Assets 2011 2010
Cash $ 73,000 $ 22,000
Accounts receivable 85,000 76,000
Inventories 170,000 189,000
Land 75,000 100,000
Equipment 260,000 200,000
Accumulated depreciation (66,000) (32,000)
Total $597,000 $555,000
Liabilities and Stockholders’ Equity
Accounts payable $ 39,000 $ 47,000
Bonds payable 150,000 200,000
Common stock ($1 par) 216,000 174,000
Retained earnings 192,000 134,000
Total $597,000 $555,000
Additional information:
1. Net income for 2011 was $103,000.
2. Cash dividends of $45,000 were declared and paid.
3. Bonds payable amounting to $50,000 were redeemed for cash $50,000.
4. Common stock was issued for $42,000 cash.
5. No equipment was sold during 2011, but land was sold at cost.
Instructions
Prepare a schedule showing a vertical analysis for 2012 and 2011.
E14-3 The comparative condensed balance sheets of Conard Corporation are presented below.
CONARD CORPORATION
Comparative Condensed Balance Sheets
December 31
2012 2011
Assets
Current assets $ 74,000 $ 80,000
Property, plant, and equipment (net) 99,000 90,000
Intangibles 27,000 40,000
Total assets $200,000 $210,000
Liabilities and stockholders’ equity
Current liabilities $ 42,000 $ 48,000
Long-term liabilities 143,000 150,000
Stockholders’ equity 15,000 12,000
Total liabilities and stockholders’ equity $200,000 $210,000
Instructions
(a) Prepare a horizontal analysis… Attachments: Q-Attachment…..docx View less » Aug 01 2015 04:32 PM

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