ACC 230 WEEK 5 CHECKPOINT - PREPARING A STATEMENT OF CASH FLOWS

ACC 230 WEEK 5 CHECKPOINT - PREPARING A STATEMENT OF CASH FLOWS

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Week 4 CheckPoint: Preparing a Statement of Cash Flows · Resource: Ch. 4 of Understanding Financial Statements. · Due Date: Day 5 [Individual forum] · Complete problem 4.5 on p. 141 (Ch. 4). Refer to Exhibit 4.1 on p. 118 (Ch. 4) to create your statement of cash flows. · Submit your completed statement of cash flows and a 200- to 300-word analysis of the statement.
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CheckPoint: Preparing a Statement of Cash Flows · Resource: Ch. 4 of Understanding Financial Statements · Complete Problem 4.5 on p. 141 (Ch. 4). Refer to Exhibit 4.1 on p. 118 (Ch. 4) to create your statement of cash flows. · 4.5. The following comparative balance sheets and income statement are available for Little Bit Inc. Prepare a statement of cash flows for 2009 using the indirect method and analyze the statement. December 31, 2009 2008 Cash $ 40,000 $ 24,000 Accounts receivable (net) 48,000 41,500 Inventory 43,000 34,500 Prepaid expenses 19,000 15,000 Total Current Assets $ 150,000 $ 115,000 Plant and equipment $ 67,000 $ 61,000 Less accumulated depreciation (41,000) (23,000) Plant and equipment (net) $ 26,000 $ 38,000 Long- term investments 90,000 89,000 Total Assets $ 266,000 $ 242,000 Accounts payable $ 13,000 $
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