The writer is very fast, professional and responded to the review request fast also. Thank you.
E5-15B(Preparation of a Statement of Cash Flows) Presented below is a condensed version of the comparative balance sheets for Garcia Corporation for the last two years at December 31. 2012 Cash $442,500, Accounts receivable 450,000, Investments 130,000,Equipment 745,000, Less: Accumulated depreciation (265,000),Current liabilities 335,000, Capital stock 400,000, Retained earnings 767,500. 2011 Cash $195,000, Accounts receivable 462,500, Investments 185,000, Equipment 600,000, Less: Accumulated depreciation (222,500) Current liabilities 377,500, Capital stock 400,000, Retained earnings 442,500.Additional information: Investments were sold at a loss (not extraordinary) of $25,000; no equipment was sold; cash dividends paid were $75,000; and net income was $400,000. Instructions: (a) Prepare a statement of cash flows for 2012 for Garcia Corporation. (b) Determine Garcia Corporation’s free cash flow.
E5-15B(a) Garcia CorporationStatement of cash flows for the year ended December 31, 2012Operating activities section:Net IncomeAdd: Loss on sale of investmentsAdd: Depreciation expense*Add:…
Show more
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more