Accounting - Financial reporting
Not what you're looking for?
23
December 31
2009 2008
Cash $90,000 $27,000
Accounts Receivable $92,000 $80,000
Allowance for Doubtful Accounts ($4,500) ($3,100)
Inventory $155,000 $175,000
Prepaid Expenses $7,500 $6,800
Land $90,000 $60,000
Buildings $287,000 $244,000
Accumulated Depreciation ($32,000) ($13,000)
Patents $20,000 $35,000
$705,000 $611,700
Accounts Payable $90,000 $84,000
Accrued Liabilities $54,000 $63,000
Bonds Payable $125,000 $60,000
Common Stock $100,000 $100,000
Retained Earnings - Appropriated $80,000 $10,000
Retained Earnings - Unappropriated $271,000 $302,700
Treasury Stock, At Cost ($15,000) ($8,000)
$705,000 $611,700
For 2009 Year
Net Income $58,300
Depreciation Expense $19,000
Amortization of Patents $5,000
Cash Dividends Declared and Paid $20,000
Gain Or Loss On Sale of Patents None
Directions:
Given the above information, prepare a statement of cash flows for Reyser Corporation for the year 2009 on a separate Excel spreadsheet as directed on the Problem Set 1 directions.
Purchase this Solution
Solution Summary
Financial reporting for accounting is examined.
Purchase this Solution
Free BrainMass Quizzes
Marketing Research and Forecasting
The following quiz will assess your ability to identify steps in the marketing research process. Understanding this information will provide fundamental knowledge related to marketing research.
Cost Concepts: Analyzing Costs in Managerial Accounting
This quiz gives students the opportunity to assess their knowledge of cost concepts used in managerial accounting such as opportunity costs, marginal costs, relevant costs and the benefits and relationships that derive from them.
Operations Management
This quiz tests a student's knowledge about Operations Management
Understanding Management
This quiz will help you understand the dimensions of employee diversity as well as how to manage a culturally diverse workforce.
Learning Lean
This quiz will help you understand the basic concepts of Lean.