Question : 4.The following the cash ledger account for Jensen Corp., which : 1253557

 

4.The following is the cash ledger account for Jensen Corp., which summarizes events that impacted the cash account during 2010.

 

CASH

Balance 1/02/10

15,000

Interest payments

4,000

Receivable collections

26,000

Fixed asset purchases

56,000

Cash sales

59,000

Wages

12,000

Sale of land

48,000

Dividend payments

7,000

Issue of common stock

31,000

Accounts payable payments

36,000

Interest collections

3,000

 

 

Using the information contained in the cash ledger, complete the following cash flow statement.

Cash provided by operations:

Amounts

Add:

 

 

 

 

 

 

Less:

 

 

 

 

 

 

Cash inflows (outflows) from operations

 

 

Cash flows from investment activities:

 

 

 

 

 

 

 

 

Cash flows from financing activities:

 

 

 

 

 

 

 

Net increase (decrease) cash

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5.Richards Inc. presented its comparative financial data and other data as follows:

 

Dec. 31, 2010

Dec. 31, 2009

Cash

$  16,000

$   9,000

Accounts receivable

22,000

16,000

Prepaid expenses

3,800

3,000

Investment in stock (no fair value)

8,000

21,000

Building and equipment

103,200

80,000

Accumulated depreciation

(60,000)

(51,000)

 

$ 93,000

$ 78,000

 

 

 

Accounts payable

$   9,000

$   6,000

Notes payable (used for operations)

6,000

8,000

Accrued expenses

13,000

7,000

Mortgage payable

25,000

31,000

Common stock

9,000

5,000

Additional paid-in capital

21,000

16,000

Retained earnings

10,000

5,000

 

$ 93,000

$78,000

Additional information:

1. Equipment was purchased for $43,200 and was paid in cash. Other equipment was sold at a $3,000 gain and was 50% depreciated at the time of sale.

2. During 2009, Richards Inc. declared and paid cash dividends.

3.Part of the investment in the stock portfolio was sold at book value. The stock is closely-held so no fair value adjustments are made.

4.Net income was $49,000.

Prepare a statement of cash flows using the indirect method for 2010. You may omit the heading.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more