Posted: May 9th, 2023

Harvard ACCOUNTING 301 Prepare a cash flow statement for 2014 with clear documentation

Required Prepare a cash flow statement for 2014 with clear documentation (i.e., show your work) for each section of the statement. Use either the direct or the indirect method. Additional information 1. There were no write­offs of delinquent accounts during the year. 2. A building was sold during the year for $120. V. (continued) Comparative balance sheets and an income statement for 2014 are presented below for Nroklesah Company. Nroklesah Company Comparative Balance Sheets and Income Statement For the Years 2013 and 2014 BALANCE SHEETS Assets 2014 2013 Cash $ 200 $ 285 Accounts receivable 350 300 Allowance for bad debts (40) (25) Inventory 100 135 Land 600 500 Buildings 275 255 Accumulated depreciation­buildings (75) (80) Total assets $1,410 $1,370 Liabilities & Owners’ Equity Liabilities Accounts payable Wages payable Dividends payable Taxes payable Long­term Bonds payable Premium on bonds payable Total liabilities Owners’ Equity Common stock Retained earnings $ 300 $ 305 70 60 30 25 50 45 100 100 7 10 557 545 650 203 600 2252 Total owners’ equity Total liabilities & owners’ equity INCOME STATEMENT (2008) Revenue Cost of goods sold Gross margin Operating expenses Wage expense Depreciation expense Bad debt expense Bond interest expense Total operating expenses Net operating income Gain on sale of building Net income before tax Income tax Net income after tax 853 825 $1,410 $1,370 $1,500 850 650 $171 40 15 14 240 410 60 470 141 $ 329

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