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Here are comparative balance sheets for Taguchi Company.

Resolved Question:

Here are comparative balance sheets for Taguchi Company.

TAGUCHI COMPANY
Comparative Balance Sheets
December 31
Assets 2008 2007
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 2008 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 2008.
Instructions
Prepare a statement of cash flows for 2008 using the indirect method. (List multiple entries with a positive cash flow first and then the negative cash flow. List multiple entries in descending order of amount. For negative cash flows, please put amounts in parenthesis.)
TAGUCHI COMPANY
Statement of Cash Flows
For the Year Ended December 31, 2008
Cash flows from operating activities

$

Adjustments to reconcile net income
to net cash provided by operating activities

$











Net cash provided by operating activities


Cash flows from investing activities






Net cash used by investing activities


Cash flows from financing activities









Net cash used by financing activities


Net in cash


Cash at beginning of period

Cash at end of period $
Submitted: 3 years ago.
Category: Homework
Expert:  Bizhelp replied 3 years ago.
Hello cathy,

Thanks for the question.

Please click here for the Word file with the answers.

Hope this helps!
Bizhelp, CPA
Category: Homework
Satisfied Customers: 5726
Experience: Bachelors Degree and CPA with Accounting work experience
Bizhelp and 9 other Homework Specialists are ready to help you
Customer: replied 3 years ago.
sales land and purchase of equipment does that have to be in descending order if so does the whole statement have to be in descending
Expert:  Bizhelp replied 3 years ago.
The cash flow statement must be separated in operating, investing and financing sections. The amounts within these sections ARE in descending order with positive amounts first. Sale of land is a +25,000 and purchase of equipment is a -60,000.
Customer: replied 3 years ago.
Hi the answer was correct but on part that confused me Wiley plus put redemption bond first (50,000) and payment of cash dividends second (45,000) can you please help me understand why Wiley put the answer that way ?


thank you
Expert:  Bizhelp replied 3 years ago.
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