Copy of Cash Flow Pr 16-4Adirectmethod

Copy of Cash Flow - 1,240,100 385,900 Net Income 108,600 Accrued expenses payable 35,400 1,553,700 1,550,000 31,700 Dividends payable 3,200 8,800

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Rucker Photography Products, Inc. Rucker Photography Products, Inc. Cash Flow Worksheet, 2010 Income Statement, FYE 2010 2009 Dr. Cr. 2010 Sales 2,990,000 Assets: Cost of goods sold 1,226,000 Cash 339,700 321,700 Gross profit 1,764,000 Accounts receivable (net) 273,700 2,990,000 2,980,300 283,400 Operating Expenses: Inventories 491,400 1,240,100 1,226,000 505,500 Depreciation expense 22,000 don't have to mess with it in op exp Investments 120,000 120,000 - Other operating expense 1,550,000 Land - 260,000 Total operating expenses 1,572,000 Equipment 340,000 440,000 Income from operations 192,000 Accumulated Depreciation (100,200) 22,000 (122,200) Other income and expense: Total Assets 1,464,600 1,688,400 Loss on Sale of Investments (32,000) don't have to mess with it in op exp Income before income taxes 160,000 Liabilities: Income tax expense 51,400 since there's no Inc tax payable, we assume we paid them all Accounts payable 374,200 1,228,400
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 1,240,100 385,900 Net Income 108,600 Accrued expenses payable 35,400 1,553,700 1,550,000 31,700 Dividends payable 3,200 8,800 10,000 4,400 Total Liabilities 412,800 422,000 Stockholder's Equity: Common Stock ($1 par) 16,000 20,000 Paid in capital in excess of par 96,000 208,000 Retained earnings 939,800 1,226,000 2,990,000 1,038,400 22,000 1,550,000 51,400 32,000 10,000 (from problem info) Total Stockholder's Equtiy 1,051,800 1,266,400 Total Liabilities & Stkhldr. Eq. 1,464,600 1,688,400 Cash Flows: From Operating Activities: collections from customers 2,980,300 cash payments for merch 1,228,400 payments for op exp 1,553,700 payments for inc taxes 51,400 146,800 From Investing Activities: sale of inv 120000 net cash used for investing activ From Financing Activities: paid dividends 8,800 net cash provided from financing activ net change in cash add beginning balance 339,700 ending cash balance 339,700...
View Full Document

This note was uploaded on 02/11/2012 for the course BUSINESS 130 taught by Professor Mccormack during the Spring '10 term at Berea.

Ask a homework question - tutors are online