P21-2 the comparative balance sheets for 2013 and 2012 and the

P21-2 The comparative balance sheets for 2013 and 2012 and the statement of income for 2013 are given below for Wright Company

 

P21-2 Statement of cash flows; direct method – EXCEL TEMPLATE

 

P21-2 The comparative balance sheets for 2013 and 2012 and the statement of income for 2013 are given below for Wright Company. Additional information from Wright’s accounting records is provided also.

 

WRIGHT COMPANY

Balance Sheet and Income Statement data are given in the solution.

Additional information:

 

Original cost

$10,000

Land selling price

7,000

Common stock purchase

25,000

New equipment cost

150,000

Note payment, 1/1/2013

30,000

Bond sale, 1/12013

60,000

Common stock sold

76,000

Common stock par

50,000

Net income

80,000

Cash dividends paid

35,000

 

Additional information from the accounting records:

 

a. Land that originally cost $10,000 was sold for $7,000.

b. The common stock of Microsoft Corporation was purchased for $25,000 as a short-term investment not classified as a cash equivalent.

c. New equipment was purchased for $150,000 cash.

d. A $30,000 note was paid at maturity on January 1.

e. On January 1, 2011, $60,000 of bonds were sold at face value.

f. Common stock ($50,000 par) was sold for $76,000.

g. Net income was $80,000 and cash dividends of $35,000 were paid to shareholders.

 

Required:

Prepare the statement of cash flows of Wright Company for the year ended December 31, 2013. Present cash flows from operating activities by the direct method. (You may omit the schedule to reconcile net income to cash flows from operating activities.) 

Order a unique copy of this paper
(550 words)

Approximate price: $22

Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

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.

Money-back guarantee

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 more

Zero-plagiarism guarantee

Each 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 more

Free-revision policy

Thanks 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 more

Privacy policy

Your 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 more

Fair-cooperation guarantee

By 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

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency