Homework Help is Here – Start Your Trial Now!
Business
Accounting
(b) The comparative balance sheets for Ramirez Company as of December 31 are presented: RAMIREZ COMPANY Comparative Balance Sheets December 31 Assets 2019 Tk. 71,000 44,000 151,450 15,280 105,000 2018 Tk 45,000 Cash Accounts receivable Inventory Prepaid expenses Land 62,000 142,000 21,000 130,000 Equipment Accumulated depreciation equipment Building Accumulated depreciation-building 228,000 155,000 (35,000) 200,000 (40,000) Tk. 709,730 Tk.680,000 (45,000) 200,000 (60,000) Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock, Si par Retained earnings Тocal Tk. 47,730 260,000 Tk. 40,000 300,000 160,000 180,000 Tk. 709,730 Tk. 680,000 200,000 202,000 Additional information: 1. Operating expenses inelude depreciation expense of Tk. 42,000 and charges from prepaid expenses of Tk. 5,720. 2. Land was sold for cash at book value. 3. Cash dividends of Tk. 15,000 were paid. 4. Net income for 2019 was Tk. 37,000, 5. Equipment was purchased for Tk. 95,000 cash. In addition, equipment costing Tk. 22,000 with a book value of Tk. 10,000 was sold for Tk. 6,000 cash. 6. Bonds were converted at face value by issuing 40,000 shares of Tk. 1 par value common stock. Instructions Prepare a statement of cash flows for the year ended December 31. 2019. using the indireet 04 method.

(b) The comparative balance sheets for Ramirez Company as of December 31 are presented: RAMIREZ COMPANY Comparative Balance Sheets December 31 Assets 2019 Tk. 71,000 44,000 151,450 15,280 105,000 2018 Tk 45,000 Cash Accounts receivable Inventory Prepaid expenses Land 62,000 142,000 21,000 130,000 Equipment Accumulated depreciation equipment Building Accumulated depreciation-building 228,000 155,000 (35,000) 200,000 (40,000) Tk. 709,730 Tk.680,000 (45,000) 200,000 (60,000) Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock, Si par Retained earnings Тocal Tk. 47,730 260,000 Tk. 40,000 300,000 160,000 180,000 Tk. 709,730 Tk. 680,000 200,000 202,000 Additional information: 1. Operating expenses inelude depreciation expense of Tk. 42,000 and charges from prepaid expenses of Tk. 5,720. 2. Land was sold for cash at book value. 3. Cash dividends of Tk. 15,000 were paid. 4. Net income for 2019 was Tk. 37,000, 5. Equipment was purchased for Tk. 95,000 cash. In addition, equipment costing Tk. 22,000 with a book value of Tk. 10,000 was sold for Tk. 6,000 cash. 6. Bonds were converted at face value by issuing 40,000 shares of Tk. 1 par value common stock. Instructions Prepare a statement of cash flows for the year ended December 31. 2019. using the indireet 04 method.

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter16: Financial Statement Analysis
Section: Chapter Questions
Problem 4PB
See similar textbooks
icon
Related questions
Question
(b) The comparative balance sheets for Ramirez Company as of December 31 are presented: RAMIREZ COMPANY Comparative Balance Sheets December 31 Assets 2019 Tk. 71,000 44,000 151,450 15,280 105,000 2018 Tk 45,000 Cash Accounts receivable Inventory Prepaid expenses Land 62,000 142,000 21,000 130,000 Equipment Accumulated depreciation equipment Building Accumulated depreciation-building 228,000 155,000 (35,000) 200,000 (40,000) Tk. 709,730 Tk.680,000 (45,000) 200,000 (60,000) Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock, Si par Retained earnings Тocal Tk. 47,730 260,000 Tk. 40,000 300,000 160,000 180,000 Tk. 709,730 Tk. 680,000 200,000 202,000 Additional information: 1. Operating expenses inelude depreciation expense of Tk. 42,000 and charges from prepaid expenses of Tk. 5,720. 2. Land was sold for cash at book value. 3. Cash dividends of Tk. 15,000 were paid. 4. Net income for 2019 was Tk. 37,000, 5. Equipment was purchased for Tk. 95,000 cash. In addition, equipment costing Tk. 22,000 with a book value of Tk. 10,000 was sold for Tk. 6,000 cash. 6. Bonds were converted at face value by issuing 40,000 shares of Tk. 1 par value common stock. Instructions Prepare a statement of cash flows for the year ended December 31. 2019. using the indireet 04 method.
Transcribed Image Text:(b) The comparative balance sheets for Ramirez Company as of December 31 are presented: RAMIREZ COMPANY Comparative Balance Sheets December 31 Assets 2019 Tk. 71,000 44,000 151,450 15,280 105,000 2018 Tk 45,000 Cash Accounts receivable Inventory Prepaid expenses Land 62,000 142,000 21,000 130,000 Equipment Accumulated depreciation equipment Building Accumulated depreciation-building 228,000 155,000 (35,000) 200,000 (40,000) Tk. 709,730 Tk.680,000 (45,000) 200,000 (60,000) Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock, Si par Retained earnings Тocal Tk. 47,730 260,000 Tk. 40,000 300,000 160,000 180,000 Tk. 709,730 Tk. 680,000 200,000 202,000 Additional information: 1. Operating expenses inelude depreciation expense of Tk. 42,000 and charges from prepaid expenses of Tk. 5,720. 2. Land was sold for cash at book value. 3. Cash dividends of Tk. 15,000 were paid. 4. Net income for 2019 was Tk. 37,000, 5. Equipment was purchased for Tk. 95,000 cash. In addition, equipment costing Tk. 22,000 with a book value of Tk. 10,000 was sold for Tk. 6,000 cash. 6. Bonds were converted at face value by issuing 40,000 shares of Tk. 1 par value common stock. Instructions Prepare a statement of cash flows for the year ended December 31. 2019. using the indireet 04 method.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Managerial Accounting
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Managerial Accounting: The Cornerstone of Busines…
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
College Accounting, Chapters 1-27 (New in Account…
College Accounting, Chapters 1-27 (New in Account…
Accounting
ISBN:
9781305666160
Author:
James A. Heintz, Robert W. Parry
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS