Presented on the next page is the financial statement of Weller Company. Assets 2016 2015 Cash...
Presented on the next page is the financial statement of Weller Company.
Assets 2016 2015
Cash 35,000 20000
Accounts receivable 33000 14000
Merchandise inventory 27000 20000
Property, Plant, and equipment 60000 78000
Accumulated depreciation (29000) (24000)
Total 126000 108,000
Liabilities and Stockholder’s Equity 2016 2015
Accounts Payable 29000 15000
Income taxes Payable 7000 8000
Bonds payable 27000 33000
Common stock 18000 14000
Retained Earnings 45000 38000
Total 126000 108000
Additional data:
Net income is TK32000
Dividends declared and paid were TK25000
During the year equipment was sold for TK8500.This equipment cost
TK18000 originally
and had a book value of Tk8500 at the time of sale.
All depreciations expenses Tk14500 is in the operation
expenses.
Redemption of bond is Tk. 6000.
Instruction:
Prepare a statement of cash flows using the indirect method.
Homework Answers
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Presented on the next page is the financial statement of Weller
Company.
Assets 2016 2015
Cash...
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