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Accounting 291 Financial Statement Analysis and Cash Flow Preparation for Taguchi Company and Conard Corporation

The assignment requires students to prepare financial statements and cash flow analysis for two companies, Taguchi and Conard Corporation.

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Accounting 291 Financial Statement Analysis and Cash Flow Preparation forTaguchi Company and Conard CorporationIndividual Assignment Week 5Accounting 291E13-8Here are comparative balance sheets for Taguchi Company.SCULLY CORPORATIONComparative Balance SheetsDecember 31Assets20112010Cash$ 73,000$ 22,000Accounts receivable85,00076,000Inventories170,000189,000Land75,000100,000Equipment260,000200,000Accumulated depreciation(66,000)(32,000)Total$597,000$555,000Liabilities and Stockholders’ EquityAccounts payable$ 39,000$ 47,000Bonds payable150,000200,000Common stock ($1 par)216,000174,000Retained earnings192,000134,000Total$597,000$555,000Additional information:1.Net income for 2011 was $103,000.2.Cash dividends of $45,000 were declared and paid.3.Bonds payable amounting to $50,000 were redeemed for cash $50,000.4.Common stock was issued for $42,000 cash.5.No equipment was sold during 2011, but land was sold at cost.InstructionsPrepare a statement of cash flows for 2011 using the indirect method.Solution:Taguchi CompanyStatement of Cash FlowsFor the Year Ended December 31, 2011Cash flows from operating activities:Net Income

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University
University of Phoenix
Subject
Accounting

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