Prepare the statement of cash flows for Dux Company using direct the method. (Hint: Use the T-accoun

Feb 3rd, 2012
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Statement of cash flows; T-account method(Direct method) The comparative balance sheets for 2013 and 2012 and the statement of income for 2013 are given below for Dux Company. Additional information from Dux’s accounting records is provided also. DUX COMPANY Comparative Balance Sheets December 31, 2013 and 2012 ($ in 000s) 2013 2012 Assets Cash $ 52 $ 25 Accounts receivable 38 52 Dividends receivable 4 3 Inventory 75 70 Long-term investment 22 20 Land 85 65 Buildings and equipment 180 200

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Statement of cash flows; T-account method(Direct method)The comparative balance sheets for 2013 and 2012 and the statement of income for 2013 are given below for Dux Company. Additional information from Dux's accounting records is provided also.DUX COMPANYComparative Balance SheetsDecember 31, 2013 and 2012($ in 000s)20132012AssetsCash$52$25Accounts receivable3852Dividends receivable43Inventory7570Long-term investment2220Land8565Buildings and equipment180200Less: Accumulated depreciation(18)(40)$438$395LiabilitiesAccounts payable$11$13Salaries payable48Interest payable63Income tax payable910Notes payable200Bonds payable12095Less: Discount on bonds(5)(6)Shareholders' EquityCommon stock210200Paid-in capital-excess of par2420Retained earnings4852Less: Treasury stock(9)0$438$395DUX COMPANYIncome StatementFor the Year Ended December 31, 2013($ in 000s)RevenuesSales revenue$250Dividend revenue4$254ExpensesCost of goods sold$145Salaries expense35Depreciation expense8Inte

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