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    Preparing Various Statements of Cash Flows

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    There are four different sections to this assignment that I need help with.

    Villa Company reported net income of $191,100 for 2011. Villa also reported depreciation expense of $43,700 and a loss of $5,660 on the sale of equipment. The comparative balance sheet shows a decrease in accounts receivable of $14,750 for the year, a $17,140 increase in accounts payable, and a $4,630 decrease in prepaid expenses.

    Prepare the operating activities section of the statement of cash flows for 2011. Use the indirect method. (List amounts from largest positive to smallest positive followed by most negative to least negative, e.g. 15, 14, 10, -17, -5, -1. If amount decreases cash flow, use either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

    VILLA COMPANY
    Partial Statement of Cash Flows
    For the Year Ended December 31, 2011

    Scully Corporation's comparative balance sheets are presented below.

    SCULLY CORPORATION
    Comparative Balance Sheets
    December 31
    2011 2010
    Cash $14,340 $10,500
    Accounts receivable 21,346 23,442
    Land 20,123 25,842
    Building 68,588 68,588
    Accumulated depreciation (15,088) (10,128)
    Total $109,309 $118,244

    Accounts payable $12,125 $31,097
    Common stock 75,600 69,800
    Retained earnings 21,584 17,347
    Total $109,309 $118,244
    Additional information:
    1. Net income was $23,922. Dividends declared and paid were $19,685.
    2. All other changes in noncurrent account balances had a direct effect on cash flows, except the change in accumulated depreciation. The land was sold for $5,000.

    Complete the statement of cash flows for 2011 using the indirect method. (List amounts from largest positive to smallest positive followed by most negative to least negative, e.g. 15, 14, 10, -17, -5, -1. If amount decreases cash flow, use either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

    SCULLY CORPORATION
    Statement of Cash Flows
    For the Year Ended December 31, 2011
    Cash flows from operating activities
    *********************************
    Muldur Corporation's comparative balance sheets are presented below.

    MULDUR CORPORATION
    Comparative Balance Sheets
    December 31
    2011 2010
    Cash $15,219 $17,713
    Accounts receivable 25,246 22,259
    Investments 19,955 16,001
    Equipment 60,044 70,008
    Accumulated depreciation (13,975) (10,080)
    Total $106,489 $115,901

    Accounts payable $14,571 $11,053
    Bonds payable 10,061 29,962
    Common stock 50,035 45,019
    Retained earnings 31,822 29,867
    Total $106,489 $115,901
    Additional information:
    1. Net income was $18,326. Dividends declared and paid were $16,371.
    2. Equipment which cost $9,964 and had accumulated depreciation of $1,198 was sold for $3,329.
    3. All other changes in noncurrent account balances had a direct effect on cash flows, except the change in accumulated depreciation.

    Prepare a statement of cash flows for 2011 using the indirect method. (List amounts from largest positive to smallest positive followed by most negative to least negative, e.g. 15, 14, 10, -17, -5, -1. If amount decreases cash flow, use either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
    MULDUR CORPORATION
    Statement of Cash Flows
    For the Year Ended December 31, 2011
    ***********************************
    The current sections of Bellinham Inc.'s balance sheets at December 31, 2010 and 2011, are presented here.
    Bellinham's net income for 2011 was $156,710. Depreciation expense was $23,830.

    2011 2010
    Current assets
    Cash $102,630 $98,020
    Accounts receivable 110,860 88,930
    Inventory 157,910 172,090
    Prepaid expenses 26,030 22,780
    Total current assets $397,430 $381,820

    Current liabilities
    Accrued expenses payable $14,090 $5,460
    Accounts payable 84,810 92,710
    Total current liabilities $98,900 $98,170

    Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2011, using the indirect method. (List amounts from largest positive to smallest positive followed by most negative to least negative, e.g. 15, 14, 10, -17, -5, -1. If amount decreases cash flow, use either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

    BELLINGHAM INC.
    Partial Statement of Cash Flows
    For the Year Ended December 31, 2011.

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    Solution Preview

    Villa Company

    Cash flows from operating activities

    Net income $191,100
    Adjustments ...

    Solution Summary

    The solution assists in preparing various statements of cash flows.

    $2.19