Preparing a Statement of Cash Flows
LAH Manufacturing Corporation is preparing the annual financial statements for the stockholders. A statement of cash flows must be prepared. The following data on cash flows were developed for the entire year ended December 31, 2011: cash collections from sales. $270,000; cash expended for operating expenses. $I75.000: sale of unissued LAH stock for cash. $30.000: cash dividends declared and paid to stockholders during the year. $I8.000: and payments on long-term notes payable. $80.000. During the year, a tract of land held as an investment was sold for $25.000 cash (which was the same price that LAH had paid for the land in 2010). and $48.000 cash was expended for two new machines. The machines were used in the factory. The beginning-of-the-year cash balance was $63.000.
Required:
Prepare the statement of cash flows for 2011. Follow the format illustrated in the chapter. To practice with more exercises, go to the text website at www.mhhe.com/libby7e.
We need at least 10 more requests to produce the solution.
0 / 10 have requested this problem solution
The more requests, the faster the answer.