Use the Following Information to Prepare a Statement of Cash

question 27

Essay

Use the following information to prepare a statement of cash flows (direct method)for Ames Corporation for the year ended December 31,2011. $$\begin{array}{l}\text { Cash and cash equivalent balances: }\\\begin{array} { l r } 12 - 31 - 2010 & \$ 26,000 \\12 - 31 - 2011 & 18,000 \\\text { Cash paid for purchase of treasury stock } & 50,000 \\\text { Accepted note receivable in exchange for a computer } & \\\text { that had been used in business operations } & 10,000 \\\text { Depreciation expense } & 15,000 \\\text { Cash received from customers } & 200,000 \\\text { Cash paid for operating expenses } & 75,000 \\\text { Cash paid for merchandise } & 130,000 \\\text { Cash received from dividends } & 2,000 \\\text { Cash paid for dividends } & 5,000 \\\text { Cash paid for office building } & 75,000 \\\text { Cash borrowed on a 6-month note payable } & 40,000 \\\text { Cash received from issuance of bonds payable } & 90,000 \\\text { Cash paid for bond interest expense } & 5,000\end{array}\end{array}$$

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A personality characterized by competitiveness, high ambition, impatience, and a high sense of urgency.

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The act of inflicting pain or harm upon oneself as a form of dealing with feelings of guilt or inadequacy.