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what Instructions Prepare a worksheet for the statement of cash flows using the indirect method.

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*P13-12A Condensed financial data of Jhutti Company appear below. Jhutti Company Comparative… 1 answer below » *P13-12A Condensed financial data of Jhutti Company appear below. Jhutti Company Comparative Balance Sheets December 31 View complete question » Assets 2014 2013 Cash $  90,300 $  47,250 Accounts receivable 80,900 57,000 Inventory 121,900 102,650 Investments 84,000 87,000 Equipment 250,000 205,000 Accumulated *P13-12A Condensed financial data of Jhutti Company appear below. Jhutti Company Comparative Balance Sheets December 31 Assets 2014 2013 Cash $  90,300 $  47,250 Accounts receivable 80,900 57,000 Inventory 121,900 102,650 Investments 84,000 87,000 Equipment 250,000 205,000 Accumulated depreciation—equipment (46,600) (40,000) $580,500 $458,900 Liabilities and Stockholders’ Equity Accounts payable $  53,400 $  48,280 Accrued expenses payable 12,100 18,830 Bonds payable 100,000 70,000 Common stock 240,000 200,000 Retained earnings 175,000 121,790 $580,500 $458,900 Jhutti Company Income Statement For the Year Ended December 31, 2014 Sales revenue $297,500 Gain on disposal of plant assets 8,550 $306,050 Less: Cost of goods sold 99,460 Operating expenses (excluding depreciation expense) 14,670 Depreciation expense 47,900 Income taxes 7,270 Interest expense 2,940 172,240 Net income $133,810 Additional information: 1.  Equipment costing $92,000 was purchased for cash during the year. 2.  Investments were sold at cost. 3.  Equipment costing $47,000 was sold for $14,250, resulting in gain of $8,550. 4.  A cash dividend of $80,600 was declared and paid during the year. Instructions Prepare a worksheet for the statement of cash flows using the indirect method. Enter the reconciling items directly in the worksheet columns, using letters to cross-reference each entry. PROBLEMS: SET B View less » Nov 30 2015 04:51 PM


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