Week 5 - accounting problems

"Problem 14-17A "CASH FLOW STATEMENT "Indirect method "Date "2006 "2005 "2006 "Inc (Dec "Cash per balance sheet "23000 "13000 "10000 "Net Income "Accounts Receivable "24000 "33000 "9000 "Merchandise Inventory "20000 "27000 "7000 "Prepaid Expenses "20000 "13000 "-7000 "Accounts payable "9000 "18500 "-9500 "Accrued expenses payable "9500 "7500 "2000 "Interest payable "1000 "1500 "-500 "Income taxes payable "3000 "2000 "1000 "Depreciation expense "7500 "Gain on sale of plant assets "-2500 "Loss on sale of Assets "21000 "Net Cash inflow in Operating Activities "28000 "Cash Flows from Investing Activities " Purchase of Available-for-sale Securities " Sale of Equipment "-60000 " Purchase of Assets "62500 "Net

Cash Used in Investing Activities "2500 "Cash Flows from Financing Activities " Borrowings from Banks "30000 " Issuance of Common Stock "18000 " Payment of Cash Dividends "-8500 "Net Cash Used in Financing Activities "39500 "Net Increase /Decrease in Cash and Cash Equivalents "10000 "Cash and Cash Equivalents , January 1 , 2006 "13000 "Cash and Cash Equivalents , December 31 , 2006 "23000 "Computation of dividends "re beg "69000 "ni "21000 "div "-8500 "re end "81500 "Problem 14-8A "STATEMENT OF CASH FLOWS "Direct Method "Cash "Current "current year "Inflow "Account "Beg "Sales "Purchases " Year "End (Outflow "Cash received friom customers "33000 "600000 "24000 "609000 "Payment to creditors "18500 "493000 "9000 "-502500 "Payment of expenses "60000 "-65000 "Prepaid expense "13000 "20000 "Accrued Expense "7500 "9500 "Interest paid "5000 "-5500 "Interest payable "1500 "1000 "Income taxes paid "9000 "-8000 "Income taxes payable "2000 "3000 "Common Stock "105000 "123000 "Bonds payable "80000 "50000 "NET CASH INFLOWS "Operating "28000 "Gain from sale of plant assets "2500 "Cash inflow "Investing "2500 "Cash Flows from Financing Activities " Borrowings from Banks "30000 " Issuance of Common Stock "18000 " Payment of Cash Dividends "-8500 "Net Cash Used in Financing Activities "39500 "0 "cost of sales " Merchandise Inventory beginning "27000 " Purchases (H28-27000 20000 "493000 "493000 " Merchandise Inventory end "-20000 " Cost of Sales "500000 "Net cash inflow - investing "2500 "Net cash provided by operating activities "28000 "Net cash from investing ativities...