Purchase Solution

Statement of cash flows

Not what you're looking for?

Ask Custom Question

The cash account for Presley Corporation shows the following for the year ended December 31,2006.

Beginning cash balance . . . . . . . . . . $ ?
Cash receipts during year from:
Services . . . . . . . . . . . . . . . . . . . . . 2,214,000
Investments by owners . . . . . . . . . 93,000
Sale of land . . . . . . . . . . . . . . . . . . 194,000
Cash payments during year for:
Operating expenses . . . . . . . . . . . . 1,735,000
Taxes . . . . . . . . . . . . . . . . . . . . . . 207,000
Purchase of building . . . . . . . . . . . 352,000
Distributions to owners . . . . . . . . . 68,000
Ending cash balance . . . . . . . . . . . . . 815,000

Required:
Prepare a statement of cash flows for Presley Corporation for the year ended December 31,2006.

Purchase this Solution
Solution Summary

The solution explains the preparation of a statement of cash flows for Presley Corporation.

Solution Preview

The statement of cash flows is composed of three sections - operating section, investment section and financing section. Operating section has all items related to the operations. Investment section has investments in fixed assets, securities etc (purchase and sale) and the financing section deals with debt and equity borrowing or repayment and dividends

In this question, we are given all the cash flows and we only need to put them in respective sections
Cash receipts during year from:
Services . . . . . . . . . . . . . . . . . . . . . 2,214,000 ...

Purchase this Solution
Free BrainMass Quizzes
Operations Management

This quiz tests a student's knowledge about Operations Management

Lean your Process

This quiz will help you understand the basic concepts of Lean.

Balance Sheet

The Fundamental Classified Balance Sheet. What to know to make it easy.

Marketing Management Philosophies Quiz

A test on how well a student understands the basic assumptions of marketers on buyers that will form a basis of their marketing strategies.

Income Streams

In our ever changing world, developing secondary income streams is becoming more important. This quiz provides a brief overview of income sources.

View More Free Quizzes
Related BrainMass Solutions

  • Three Major Activities on the Statement of Cash Flows

    Cite examples of cash flows for each activity. The statement of cash flows provides details on the actual cash the company generates. The statement of cash flows is a key tool for investors.

  • Statement of Cash Flow items

    which of the following represents an inflow of cash and would be reported on the statement of cash flows?

  • Linus Corporation

    137,446 Cash received from issuing common stock 22,734 Determine which items should be included in a statement of cash flows, and then complete the statement of cash flows for Linus Corporation.

  • Statement of cash flows

    cash is the statement of cash flows.

  • Govt. accounting-differences in the Statement of Cash Flows

    I have had to create several statements of cash flows for various types of businesses. The most common statement of cash flows that I have created has been for our accounting firm.

  • Apple and Samsung Statement of Cash Flow Comparison

    559368 Apple and Samsung Statement of Cash Flow Comparison Which of the two financial statements (income and statement of cash flow) is the better one? Comment on the differences between Apple's and Samsung's statement of cash flows.

  • Statement of cash flows - Direct and indirect methods

    - Compare the statement of cash flows with income statement using terms of net income and cash at end of the year. Statement of cash flows explains the movement of cash and the net change in cash for the particular financial year.

  • Carpino Company

    209774 Statement of Cash Flows I need help understanding and preparing a statement of cash flows using the indirect method from a statement of cash flows. Please see the attached file.

  • Indirect Statement of Cash Flows

    Cash flow statement is one of the key financial statements. The statement of cash flows provides information about cash receipts and cash payments of an entity during a period.

  • Statement of Cash Flows - direct and indirect method

    159379 Preparation of Statement of Cash Flows - Consolidated Enterprises Inc E10-5 Preparation of Statement of Cash Flows The accountant for Consolidated Enterprises Inc. has just finished preparing a consolidated balance sheet, income statement, and

View More Related Solutions