You are making my life so much easier! I am a single mom that works and goes to school. You guys are helping me with my projects so I can have more free time with my son.
Essay (any type)
August 5, 2021
P21-2 The comparative balance sheets for 2013 and 2012 and the statement of income for 2013 are given below for Wright Company
P21-2 Statement of cash flows; direct method – EXCEL TEMPLATE
P21-2 The comparative balance sheets for 2013 and 2012 and the statement of income for 2013 are given below for Wright Company. Additional information from Wright’s accounting records is provided also.
WRIGHT COMPANY
Balance Sheet and Income Statement data are given in the solution.
|
Additional information: |
|
|
Original cost |
$10,000 |
|
Land selling price |
7,000 |
|
Common stock purchase |
25,000 |
|
New equipment cost |
150,000 |
|
Note payment, 1/1/2013 |
30,000 |
|
Bond sale, 1/12013 |
60,000 |
|
Common stock sold |
76,000 |
|
Common stock par |
50,000 |
|
Net income |
80,000 |
|
Cash dividends paid |
35,000 |
Additional information from the accounting records:
a. Land that originally cost $10,000 was sold for $7,000.
b. The common stock of Microsoft Corporation was purchased for $25,000 as a short-term investment not classified as a cash equivalent.
c. New equipment was purchased for $150,000 cash.
d. A $30,000 note was paid at maturity on January 1.
e. On January 1, 2011, $60,000 of bonds were sold at face value.
f. Common stock ($50,000 par) was sold for $76,000.
g. Net income was $80,000 and cash dividends of $35,000 were paid to shareholders.
Required:
Prepare the statement of cash flows of Wright Company for the year ended December 31, 2013. Present cash flows from operating activities by the direct method. (You may omit the schedule to reconcile net income to cash flows from operating activities.)
You are making my life so much easier! I am a single mom that works and goes to school. You guys are helping me with my projects so I can have more free time with my son.
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more