Cash Flows

Exercise 1 Adriana Lopez, owner of victor Systems, decides to prepare a program line of change Flows for the quarter ending knock against 31, 2010. The pursual are the relevant financial statents and extra information. Success Systems dictation of Income For the quarter ending March 31, 2010 calculator Service tax Net Sales enumerate Revenue Cost of Goods sell Depreciation disbursal-Office Equipment Depreciation Expense-Computer Equipment Wages Expense redress outlay Rent Expense Computer supplies expense Advertising Expense Mileage Expense Repairs expense-Computer Net Income $25,160.00 $18,693.00 $43,853.00 $14,052.00 $400.00 $1,250.00 $3,250.00 $555.00 $2,475.00 $1,305.00 $600.00 $320.00 $960.00

$25,167.00 $18,686.00

Success Systems Comparative Statement of Financial Position December 31, 2009 and March 31, 2010 2010 Assets Current Assets Cash Accounts Receivable Merchandise Inventory Computer supplies Prepaid Insurance Prepaid Rent Non-current Assets Office Equipment Accumulated Depreciation-Off. Equip Computer Equipment Accumulated Depreciation-Computer Equip Total Assets Liabilities & Owners Equity Current Liabilities Accounts due Wages Payable Unearned computer services revenue Equity Common stock Retained earnings Total Liabilities & ownersEquity

2009

$77,845.00 $22,720.00 $704.00 $2,005.00 $1,110.00 $825.00 $105,209.00 $8,000.



00 -$800.00 $20,000.00 -$2,500.00 $129,909.00

$58,160.00 $5,668.00 $0.00 $580.00 $1,665.00 $825.00 $66,898.00 $8,000.00 -$400.00 $20,000.00 -$1,250.00 $93,248.00

$0.00 $875.00 $0.00

$1,100.00 $500.00 $1,500.00

$108,000.00 $21,034.00 $129,909.00

$83,000.00 $7,148.00 $93,248.00

Required: Prepare a statement of Cash Flows for the Success Systems using the Indirect Method for the period ending March 31, 2010. Recall that the owner Adrian Lopez contributed $25,000 to the business in exchange for additive shares and received $4,800 in cash dividends.

Exercise 2 Wilson Corporation, a merchandiser, recently...If you want to get a full essay, order it on our website: Orderessay



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