{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Cash Flow Instructions -...

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

View Full Document Right Arrow Icon
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 flows. Assets: 2009 2008 Cash and cash equivalents 75,000 $ 58,000 $ Accounts receivable, net 182,000 168,000 Inventories (at LCM, using FIFO cost) 209,000 192,000 Total current assets 466,000 418,000 Property, plant and equipment, at cost 654,000 571,000 Accumulated depreciation (191,000) (173,000) Property, plant and equipment, net 463,000 398,000 Total assets 929,000 $ 816,000 $ Liabilities and shareholders' equity: Accounts payable 153,000 $ 138,000 $ Accrued income taxes 35,000 41,000 Dividends payable 33,000 - Bank note payable - current portion 129,000 122,000
Image of page 1
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern