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- Download: http://solutionzip.com/downloads/taguchi-company-solution/
- E13-8
- Here are comparative balance sheets for Taguchi Company.
- TAGUCHI COMPANY
- Comparative Balance Sheets
- December 31
- Assets 2011 2010
- Cash $ 73,000 $ 22,000
- Accounts receivable 85,000 76,000
- Inventories 170,000 189,000
- Land 75,000 100,000
- Equipment 260,000 200,000
- Accumulated depreciation (66,000) (32,000)
- Total $597,000 $555,000
- Liabilities and Stockholdersβ Equity
- Accounts payable $ 39,000 $ 47,000
- Bonds payable 150,000 200,000
- Common stock ($1 par) 216,000 174,000
- Retained earnings 192,000 134,000
- Total $597,000 $555,000
- Additional information:
- 1. Net income for 2011 was $103,000.
- 2. Cash dividends of $45,000 were declared and paid.
- 3. Bonds payable amounting to $50,000 were redeemed for cash $50,000.
- 4. Common stock was issued for $42,000 cash.
- 5. No equipment was sold during 2011, but land was sold at cost.
- Instructions
- Prepare a statement of cash flows for 2011 using the indirect method.
- Download: http://solutionzip.com/downloads/taguchi-company-solution/
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