Accountants for Johnson, Inc., have assembled the following data for the year ended December 31, 2012:
Cash & cash equivalents $92,100.00 $17,000.00
Accounts receivable $64,500.00 $69,200.00
Inventories $87,000.00 $80,000.00
Accounts Payable $57,900.00 $56,200.00
Income Tax payable $14,400.00 $17,100.00
Transaction Data for 2012:
Issuance of common stock for cash $40,000
Depreciation expense 25,000
Purchase of equipment 75,000
Acquisition of land by issuing long-term note payable 122,000
Cost basis of building sold 53,000
Payment of note payable $48,100
Payment of cash dividends 54,000
Issuance of note payable to borrow cash 67,000
Gain on sale of building 5,500
Net income 70,500
1.Prepare Johnson's statement of cash flows using the indirect method. Include an accompanying schedule of noncash investing and financing activities.
Your tutorial is in Excel, attached. Click in cells to see computations.
Statement of Cash Flows - Indirect Method Problem
Set forth below are the balance sheets of Fairchild & Johnson Products, Inc. as of December 31, 2009 and 2008, and the company's income statement and certain additional information for the year ended December 31, 2009.
Prepare in good form a statement of cash flows for Fairchild & Johnson using the indirect method for the year ended December 31, 2009. Though not required, students may wish to complete the supplemental worksheet in the Workbook, which may assist with completing the required statement of cash flowsView Full Posting Details