Statement Cash Flow - Direct Method
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The following information and financial statements excerpts pertain to Le Chateau Meaux Inc.
a. All short term investments (securities available for sale as per SFAS 115, 1993)) were purchased on 12/31/04 and sold during 2005.
b. The company entered a lease agreement on 12/31/05.
c. Fixed assets with a net book value of $15 were sold during the year.
d. The company repaid the current portion of long-term debt during the year.
e. Dividend was declared and partially paid.
Required: Prepare a Statement of Cash Flows in full compliance with SFAS 95 (1987)
1. Prepare the statement of cash flow for the year 2005 using the direct method. (Operating section, investing and financing sections)
2. Reconcile net income and operating cash flow for the year 2005. (You only need to do the operating section)
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Solution Summary
The following information and financial statements excerpts pertain to Le Chateau Meaux Inc.
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