Dec. 31,2014 Dec. 31,2013 Assets Cash $130 $44 Accounts receivable(net) 75 55 Inventories 47 30 Land 107 125 Equipment 60 48 Accumulateddepreciation-equipment (16) (8) Total $403 $294 Liabilities andStockholders' Equity Accounts payable(merchandise creditors) $51 $44 Dividends payable 8 - Common stock, $10par 27 14 Paid-in capital inexcess of par-common stock 55 34 Retained earnings 262 202 Total $403 $294
The following additional information is taken from therecords:
Land was sold for $45.
Equipment was acquired for cash.
There were no disposals of equipment during the year.
The common stock was issued for cash.
There was a $87 credit to Retained Earnings for net income.
There was a $27 debit to Retained Earnings for cash dividendsdeclared.
a. Prepare a statement of cash flows, using theindirect method of presenting cash flows from operating activities.Use the minus sign to indicate cash out flows, cash payments,decreases in cash and for any adjustments, if required.
Tru-Built Construction Inc.
Statement of Cash Flows
For the Year Ended December 31, 2014
Cash flows from operating activities:
$
Adjustments to reconcile net income to net cash flow fromoperating activities:
Changes in current operating assets and liabilities:
Net cash flow from operating activities
$
Cash flows from investing activities:
$
Net cash flow provided by investing activities
Cash flows from financing activities:
$
Net cash flow provided by financing activities
$
Cash at the beginning of the year
Cash at the end of the year
Was Tru-Built Construction Inc.'s cash flow from operations moreor less than net income? LESS OR MORE
$
Dec. 31,2014 | Dec. 31,2013 | ||||
Assets | |||||
Cash | $130 | $44 | |||
Accounts receivable(net) | 75 | 55 | |||
Inventories | 47 | 30 | |||
Land | 107 | 125 | |||
Equipment | 60 | 48 | |||
Accumulateddepreciation-equipment | (16) | (8) | |||
Total | $403 | $294 | |||
Liabilities andStockholders' Equity | |||||
Accounts payable(merchandise creditors) | $51 | $44 | |||
Dividends payable | 8 | - | |||
Common stock, $10par | 27 | 14 | |||
Paid-in capital inexcess of par-common stock | 55 | 34 | |||
Retained earnings | 262 | 202 | |||
Total | $403 | $294 |
The following additional information is taken from therecords:
Land was sold for $45.
Equipment was acquired for cash.
There were no disposals of equipment during the year.
The common stock was issued for cash.
There was a $87 credit to Retained Earnings for net income.
There was a $27 debit to Retained Earnings for cash dividendsdeclared.
a. Prepare a statement of cash flows, using theindirect method of presenting cash flows from operating activities.Use the minus sign to indicate cash out flows, cash payments,decreases in cash and for any adjustments, if required.
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