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Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger
Edition 6ISBN: 978-1305103962Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger
Edition 6ISBN: 978-1305103962 Exercise 61
Statement of Cash Flows, Worksheet
The following balance sheets and income statement were taken from the records of Rosie-Lee Company:
Refer to the information for Rosie-Lee Company on the previous page. Additional transactions were as follows:
a. Sold equipment costing $21,600 with accumulated depreciation of $16,200 for $3,600.
b. Issued bonds for $90,000 on December 31.
c. Paid cash dividends of $36,000.
d. Retired a mortgage at a price of $108,000 on December 31.
Required:
Prepare a statement of cash flows using a worksheet similar to the one shown in Cornerstone 15.8 (p. 688). Use the indirect method to prepare the statement.
The following balance sheets and income statement were taken from the records of Rosie-Lee Company:
Refer to the information for Rosie-Lee Company on the previous page. Additional transactions were as follows:
a. Sold equipment costing $21,600 with accumulated depreciation of $16,200 for $3,600.
b. Issued bonds for $90,000 on December 31.
c. Paid cash dividends of $36,000.
d. Retired a mortgage at a price of $108,000 on December 31.
Required:
Prepare a statement of cash flows using a worksheet similar to the one shown in Cornerstone 15.8 (p. 688). Use the indirect method to prepare the statement.
Explanation
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The indirect method of cash flow begins ...
Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger
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