Financial Accounting

Topics: Generally Accepted Accounting Principles, Balance sheet, Asset Pages: 4 (661 words) Published: August 25, 2013
Name: Final Summer 2013

Ex. 198
Use the following information to perform the calculations below (using the indirect method). Clearly label the amount of each answer as positive or negative and show all your calculations.

Net income$369,000Beginning accounts payable$119,000
Depreciation expense 97,000Ending accounts payable146,000
Beginning accounts receivable420,000Purchase of long-term assets612,000
Ending accounts receivable439,000Issuance of long-term debt200,000
Beginning inventory516,000Issuance of stock for cash180,000
Ending inventory550,000Issuance of stock for long-term assets110,000
Beginning prepaid expenses42,000Purchase of treasury stock64,000
Ending prepaid expenses48,000Sale of long-term investment at cost49,000

a. Calculate the amount of cash flows from operating activities._____________ *
b. Calculate the amount of cash flows from investing activities._____________

c. Calculate the amount of cash flows from financing activities._____________ *
c. Calculate the net change in cash._____________

Ex. 205
A comparative balance sheet for the Visser Corporation is presented below:

Comparative Balance Sheet
2012 2011
Cash$ 40,000$ 31,000
Accounts receivable (net)80,00060,000
Prepaid insurance22,00017,000
Accumulated depreciation (20,000)...
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