Kooler Company Balance Sheet December 31 2004 2005 Cash 9,600 20,800...
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Accounting
Kooler Company
Balance Sheet
December 31 2004 2005
Cash 9,600 20,800
Accounts Receivable (net) 18,400 36,700
Inventory 32,000 43,000
Investments in trading securities 17,000 0
Property, Plant & Equipment 120,000 184,200
Accumulated Depreciation (24,000) (32,400)
Totals 173,000 252,300
Accounts Payable 22,700 20,200
Notes Payable, short term 15,000 22,800
(nontrade)
Long-term Notes Payable 26,000 56,000
Common Stock 82,000 102,000
Retained Earnings 27,300 51,300
Totals 173,000 252,300
Additional data:
1. Net income for the year 2005, $54,000
2. Sold machinery costing $30,000 with a book value of $12,000 for $15,000.
3. Sold the investments for $15,000
4. Paid dividends of $30,000
5. Purchased machinery and gave a $50,000 long-term note payable
6. Paid a $20,000 long-term note payable by issuing common stock.
7. Accounts receivable written off during the year, $2,500.
8. Bad Debt Expense for the year 2005, $19,000
9. Cash inflow from customers in 2005, $459,000.
Requirements:
a. On the next page, prepare a statement of cash flows (in good form) for the year ended December 31, 20x5. Use the indirect approach to disclose the cash flows from operating activities.
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