Financial and Managerial Accounting: E17-9 Muldur Corporation's comparative balance sheets

Financial and Managerial Accounting E17-9 Muldur Corporation's comparative balance sheets are presented below.  MULDUR CORPORATION Comparative Balance Sheets December 31    2010   2009 Cash  15,200   17,700 Accounts receivable  25,200   22,300 Investments  20,000   16,000 Equipment  60,000   70,000 Accumulated depreciation  (14,000)  (10,000)     Total  106,400   116,000          Accounts payable  14,600   11,100 Bonds payable  10,000   30,000 Common stock   50,000   45,000 Retained earnings  31,800   29,900      Total  106,400   116,000  Additional information:   1.  Net income was $18,300. Dividends declared and paid were $16,400.   2.  Equipment which cost $10,000 and had accumulated depreciation of $1,200 was sold for $3,300.    3.  All other changes in noncurrent account balances had a direct effect on cash flows, except the change in accumulated depreciation.  Requirements: a.  Prepare a statement of cash flows for 2010 using the indirect method. (List multiple entries with a positive cash flow first and then the negative cash flow. List amounts from largest to smallest eg 10, 5, 3, 2. If amount decreases cash flow, use either a negative sign preceding the number eg -45 or parentheses eg (45).) 
Powered by