Any Takers 1.
Instructions for each section must be fully adhered to.
Section 1
Instructions for Exercise 13:
Prepare a statement of cash flows for 2011 using the indirect method.
13) 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 Stockholders’ 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 for Exercise 14:
(A) Prepare a horizontal analysis of the balance sheet data for Conard Corporation using 2011 as a base.
(B) Prepare a vertical analysis of the balance sheet data for Conard Corporation in columnar form for 2012.
14) The comparative condensed balance sheets of Conard Corporation are presented below.
CONARD CORPORATION
Comparative Condensed Balance Sheets
Dec
ember 31
2012 2011
Assets
Current assets $ 74,000 $ 80,000
Property, plant, and equipment (net) 99,000 90,000
Intangibles 27,000 40,000
Total assets $200,000 $210,000
Liabilities and stockholders’ equity
Current liabilities $ 42,000 $ 48,000
Long-term liabilities 143,000 150,000
Stockholders’ equity 15,000 12,000
Total liabilities and stockholders’ equity $200,000 $210,000
Section 2
Write a 400-word response regarding the differences between the direct and indirect presentation of cash flows. Why does the Financial Accounting Standards Board allow both methods? Which do you prefer? Why?
*****Response must be consistent with APA guidelines complete with in-text citations as well as reference page. *****
Any Takers 1
.awasam-promo3 {
background-color: #F5F9FF;
color: #000000;
text-align: center;
padding: 20px;
border-radius: 10px;
}
.button {
background-color: #4CAF50;
border: none;
color: white;
padding: 10px 20px;
text-align: center;
text-decoration: none;
display: inline-block;
font-size: 16px;
margin: 4px 2px;
cursor: pointer;
border-radius: 5px;
}
.button-whatsapp {
background-color: #41D07D;
border: none;
color: white;
padding: 10px 20px;
text-align: center;
text-decoration: none;
display: inline-block;
font-size: 16px;
margin: 4px 2px;
cursor: pointer;
border-radius: 5px;
}
.awasam-alert {
color: red;
}
Needs help with similar assignment?
We are available 24×7 to deliver the best services and assignment ready within 6-8 hours? Order a custom-written, plagiarism-free paper
Get Answer Over WhatsApp
Order Paper Now