Problem:
|
December 31
|
|
2009
|
2008
|
|
Cash
|
$90,000
|
$27,000
|
|
Accounts Receivable
|
$92,000
|
$80,000
|
|
Allowance for Doubtful Accounts
|
($4,500)
|
($3,100)
|
|
Inventory
|
$155,000
|
$175,000
|
|
Prepaid Expenses
|
$7,500
|
$6,800
|
|
Land
|
$90,000
|
$60,000
|
|
Buildings
|
$287,000
|
$244,000
|
|
Accumulated Depreciation
|
($32,000)
|
($13,000)
|
|
Patents
|
$20,000
|
$35,000
|
|
$705,000
|
$611,700
|
|
Accounts Payable
|
$90,000
|
$84,000
|
|
Accrued Liabilities
|
$54,000
|
$63,000
|
|
Bonds Payable
|
$125,000
|
$60,000
|
|
Common Stock
|
$100,000
|
$100,000
|
|
Retained Earnings - Appropriated
|
$80,000
|
$10,000
|
|
Retained Earnings - Unappropriated
|
$271,000
|
$302,700
|
|
Treasury Stock, At Cost
|
($15,000)
|
($8,000)
|
|
$705,000
|
$611,700
|
For 2009 Year
Net Income $58,300
Depreciation Expense $19,000
Amortization of Patents $5,000
Cash Dividends Declared and Paid $20,000
Gain Or Loss On Sale of Patents None
Directions :
Given the above information, prepare a statement of cash flows for Reyser Corporation for the year 2009 on a separate Excel spreadsheet as directed on the Problem Set 1 directions.