On the basis of the following data for Larson Co. for the year ending December 31, 2011 and the preceding year ended December 31, 2010, prepare a statement of cash flows. Use the indirect method of reporting cash flows from operating activities. In addition to the balance sheet data, assume that:
Equipment costing $125,000 was purchased for cash.
Equipment costing $85,000 with accumulated depreciation of $65,000 was sold for $15,000.
The stock was issued for cash.
The only entries in the retained earnings account were net income of $51,000 and cash dividends declared of $13,000.
Definitions:
Taste-For-Discrimination Model
A theoretical model that explains how discrimination can affect economic decisions and outcomes by assuming some agents have a 'taste' or preference for discriminating against certain groups.
Wages
Compensation given to employees for their work, often determined by the hour, day, or by the amount of work completed.
Labor Force
The labor force comprises all the working-age population that is either employed or actively seeking employment.
Discrimination
Unjust or prejudicial treatment of different categories of people, especially on the grounds of race, age, or sex.
Q3: According to the text, which of the
Q19: Simultaneous feelings include all of the following,
Q59: Indicate whether the following actions would (+)
Q67: A corporation issues for cash $2,000,000 of
Q73: Which of the following should be shown
Q82: A company had stock outstanding as follows
Q83: On the first day of the fiscal
Q100: Cash flows from investing activities, as part
Q118: Although marketable securities may be retained for
Q145: The last item on the statement of