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statement of cash flow-

statement of cash flow-

Financial Accounting: The Impact on Decision Makers
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter12: The Statement Of Cash Flows
Section: Chapter Questions
Problem 12.8E
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Using the financial data below, prepare a statement of cash flows for the year ended December 31, 2014 for Summer Peebles, Inc. using the indirect method. Summer Peebles, Inc. Income Statement Year Ending December 31, 2014 Sales Cost of Goods Sold Depreciation Expense Sales and General Expense Interest Expense Income Tax Expense Net Income Assets Cash Accounts Receivable, Net Inventory Current Assets Fixed Assets, Net Summer Peebles, Inc. Balance Sheets as of December 31, 2013 and 2014 Total Assets Liabilities and Equity Notes Payable to Banks Accounts Payable Interest Payable Current Liabilities Long-Term Debt Deferred Income Tax $1,000.00 Capital Stock -$650.00 -$100.00 -$100.00 -$50.00 -$40.00 $60.00 2013 $50.00 $500.00 $750.00 $1,300.00 $500.00 $1,800.00 $100.00 $590.00 $10.00 $700.00 $300.00 $300.00 $400.00 2014 $60.00 $520.00 $770.00 $1,350.00 $550.00 $1,900.00 $75.00 $615.00 $20.00 $710.00 $350.00 $310.00 $400.00
Transcribed Image Text:Using the financial data below, prepare a statement of cash flows for the year ended December 31, 2014 for Summer Peebles, Inc. using the indirect method. Summer Peebles, Inc. Income Statement Year Ending December 31, 2014 Sales Cost of Goods Sold Depreciation Expense Sales and General Expense Interest Expense Income Tax Expense Net Income Assets Cash Accounts Receivable, Net Inventory Current Assets Fixed Assets, Net Summer Peebles, Inc. Balance Sheets as of December 31, 2013 and 2014 Total Assets Liabilities and Equity Notes Payable to Banks Accounts Payable Interest Payable Current Liabilities Long-Term Debt Deferred Income Tax $1,000.00 Capital Stock -$650.00 -$100.00 -$100.00 -$50.00 -$40.00 $60.00 2013 $50.00 $500.00 $750.00 $1,300.00 $500.00 $1,800.00 $100.00 $590.00 $10.00 $700.00 $300.00 $300.00 $400.00 2014 $60.00 $520.00 $770.00 $1,350.00 $550.00 $1,900.00 $75.00 $615.00 $20.00 $710.00 $350.00 $310.00 $400.00
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