The comparative balance sheet of Mavenir Technologies Inc. for December 31, 2010 and 2009, is shown as follows:.
Assets Dec. 31, 2010 Dec. 31, 2009 Cash $312,880.00 $292,960.00 Accounts receivable (net) $113,920.00 $104,480.00 Inventories $320,880.00 $308,560.00 Investments $- $120,000.00 Land $164,000.00 $- Equipment $352,560.00 $276,560.00 Accumulated depreciation-equipment $(83,200.00) $(74,000.00) $1,181,040.00 $1,028,560.00 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors)$214,240.00 $202,480.00 Accrued expenses payable (operating expenses) $21,120.00 $26,320.00 Dividends payable $12,000.00 $9,600.00 common stock, $10 par $64,000.00 $48,000.00 paid in capital in excess of par-common stock $240,000.00 $140,000.00 retained earnings $629,680.00 $602,160.00 $1,181,040.00 $1,028,560.00
The following additional information was taken from the records:
a. the investments were sold for $140,000 cash
b. Equipment and land were acquired for cash
c. there were no disposals of equipment during the year
d. the common stock was issued for cash.
e. there was $75,520 credit to retained earnings for net income.
f. there was $48,000 debit to retained earnings for cash dividends declared.
Instructions
Prepare a statement of cash flow, using the indirect method of presenting cash flows from operating activities
File name: MAVENIR-TECHNOLOGIES-INC.xls File type: application/vnd.ms-excel Price: $5
