E9-14A. Prepare the statement of cash flows using the indirect method. (LO 5, 6)
Use the following information for Just Nuts Company to prepare a statement of cash flows using the indirect method.
| Just Nuts Company Balance Sheet | ||
| 2007 | 2006 | |
| Assets | ||
| Cash | $ 193,000 | $ 1 20,500 |
| Accounts receivable | 64,000 | 60,000 |
| Inventories | 1 20,000 | 1 75,000 |
| Land | 95,000 | 120,000 |
| Equipment | 250,000 | 180,000 |
| Accumulated depreciation | (75,000) | (45,000) |
| Total assets | $647,000 | $610 ,500 |
| Liabilities and Shareholders Equity | ||
| Accounts payable | $ 42,ooo | $ 50,000 |
| Bonds payable | 150,000 | 220,000 |
| Common stock and additional | ||
| paid-in capital | 200,000 | 1 80,000 |
| Retained earnings | 245,000 | 1 60,500 |
| Total liabilities and shareholders’ | ||
| equity | $647,00 | $610,500 |
Additional information:
a. Net income for the fiscal year ended June 30, 2007, was $95,000.
b. The company declared and paid cash dividends.
c. The company redeemed bonds payable amounting to $60,000 for cash of $60,000.
d. The company issue common stock for $20,000 cash.
Economic Debate- Progressive Income Tax For this Economic Debate, we are going to discuss the…
TOPIC: Going Global Discussion Thread 1 (initial post due Wednesday for full credit) Please note:…
Assignment Topic This week will culminate in the creation of a narrated PowerPoint to create…
The Assignment must be submitted on Blackboard (WORD format only) via allocated folder. Assignments submitted…
you need to post your 2-page information flier to share with your Final Project Group.…
discussion: Discuss the methods used at your company to measure and ensure quality products and…