Hello. P12-7A Financial Accounting, Tools for Business Decision Making, Kimmel, Weygandt & Kieso, and 7th Edition
I Need B1-B2-B3 Complete. I believe I have the first part correct. The file is attached.
Instructor: Ingalls Date:
Course: BUA 201
Financial Accounting: Chapter 12 Homework P12-7A, Prepare a statement of cash flows?indirect method, and compute cash-based ratios.
Presented below are the financial statements of Kurtzel Company.
Comparative Balance Sheets
Property, plant, and equipment
Liabilities and Stockholders? Equity
Income taxes payable
For the Year Ended December 31, 2014
Cost of goods sold
Income from operations
Income before income taxes
Income tax expense
Net income $242,000
$32,000 Additional data:
1. Depreciation expense was
2. Dividends declared and paid were
cash. This equipment cost
3. During the year equipment was sold for
originally and had accumulated depreciation of
at the time of sale. $18,000 Name:
Instructor: Ingalls Date:
Course: BUA 201 Instructions:
(a) Prepare a statement of cash flows using the indirect method. Cash flows from operating activities
Adjustments to reconcile net income to net cash
provided by operating activities
Increase in accounts payable
Decrease in income taxes payable
Increase in accounts feceivable
Increase in inventory
Net cash by operating activities $32,000 $17,500
(8,000) Cash flows from investing activities
Proceeds from sale of equipment 6,500
38,500 8,500 Cash flows from financing activities
Issuance of common stock
Redemption of bonds
Payment of cash dividends
Net cash used by financing activities 4,000
(32,000) Net cash flow
Cash at beginning of period
Cash at end of period 15,000
Calculation here as desired
Calculation here as desired (b) (1) Compute the current cash debt coverage ratio.
Amount + Amount
= Times = ÷ Times Number
(b) (2) Compute the cash debt coverage ratio.
Amount + Amount ÷
Number (b) (3) Compute the free cash flow.
Amount - Amount - Amount = Amount
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