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Posted: July 28th, 2024
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Prepare a statement
of cash flows-indirect method
E13-8Here are comparative balance sheets for
Taguchi Company
TAGUCHI COMPANY
Comparative Balance Sheets
December 31
Assets 2011 2010
Cash $
73,000 $ 22,000
Accounts receivable 85,000 76,000
Inventories
170,000 189,000
Land
75,000 100,000
Equipment
260,000 200,000
Accumulated depreciation
(66,000)
(32,000)
Total $597,000
$555,000
Liabilities and Stockholdersâ Equity
Accounts payable $ 39,000 $ 47,000
Bonds payable 150,000 200,000
Common stock ($1 par) 216,000
174,000
Retained earnings 192,000
134,000
Total
$597,000 $555,000
Additional information:
1.Net
income for 2011 was $103,000.
2.Cash
dividends of $45,000 were declared and paid.
3.Bonds
payable amounting to $50,000 were redeemed for cash $50,000.
4.Common
stock was issued for $42,000 cash.
5.No equipment was sold during 2011, but
land was sold at cost
Prepare
a statement of cash flows for 2011 using the indirect method.
E14-3
The comparative condensed balance sheets
of Conard Corporation are presented below.
Prepare horizontal and vertical analyses
CONARD CORPORATION
Comparative Condensed Balance Sheets
December 31
2012
2011
Assets
Current assets $
74,000
$ 80,000
Property, plant, and equipment (net)
99,000 90,000
Intangibles
27,000 40,000
Total assets
$200,000 $210,000
Liabilities and stockholdersâ equity
Current liabilities
$ 42,000 $ 48,000
Long-term liabilities 143,000 150,000
Stockholdersâ equity 15,000 12,000
Total liabilities and stockholdersâ equity $200,000 $210,000
Instructions
(a)Prepare
a horizontal analysis of the balance sheet data for Conard Corporation using
2011
as a base.
(b)Prepare
a vertical analysis of the balance sheet data for Conard Corporation in
columnar
form for 2012.
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