Financial and Managerial Accounting: PR14-3A The comparative balance sheet of Reston Supply Co

Financial and Managerial Accounting

PROBLEM 14-3A Statement of cash flows-indirect method
The comparative balance sheet of Reston Supply Co. at December 31, 2008 and 2007, is as follows: Dec. 31, 2008 Dec. 31, 2007
Assets
Cash 45,500 51,200
Accounts receivable (net) 106,700 92,400
Inventories 139,200 131,200
Prepaid Expenses 2,800 4,000
Land 150,000 210,000
Buildings 300,000 150,000
Accumulated depreciation-building (60,200) (55,500)
Equipment 100,100 80,300
Accumulated deprecation - Equipment (20,200) (24,500)
763,900 639,100

Liabilities and Stockholders Equity
Accounts payable (merchandise creditors) 90,000 95,600
Income tax payable 4,000 3,200
Bonds payable 50,000 -
Common stock, $1par 33,000 30,000
Paid-in capital in excess of par- common stock 180,000 120,000
Retained earnings 406,900 390,300
763,900 639,100

The noncurrent asset, noncurrent liability, and stockholders' equity accounts for 2008 are as follows:

Instructions:
Prepare a statement of cash flows using the indirect method of presenting cash flows from operating activities. Next, enter in key amounts from the spreadsheet as requested below. If an amount is zero, enter "0".
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