Acciunting help | Accounting homework help

Ch. 13 & 14 of Financial Accounting
Complete E13-9 (note — this is Exercise 13-9, p. 657 in your text) and
                  P14-3 (note — this is Problem 14-3 – p. 717 in your text).
Submit as a Microsoft® Excel or Word® document (Excel is preferred)
 
here is the copy and pasted text problems;
prepare a statement of cash flows for 2011 using the indirect method
E13-9 Muldur Corporation’s comparative balance sheets are presented below.EDDIE MURPHY COMPANYComparative Balance SheetsDecember 31Assets 2011 2010Cash $ 63,000 $ 22,000Accounts receivable 85,000 76,000Inventories 180,000 189,000Land 75,000 100,000Equipment 260,000 200,000Accumulated depreciation (66,000) (42,000)Total $597,000 $545,000Liabilities and Stockholders’ EquityAccounts payable $ 34,000 $ 47,000Bonds payable 150,000 200,000Common stock ($1 par) 214,000 164,000Retained earnings 199,000 134,000Total $597,000 $545,000MULDUR CORPORATIONComparative Balance SheetsDecember 312011 2010Cash $ 15,200 $ 17,700Accounts receivable 25,200 22,300Investments 20,000 16,000Equipment 60,000 70,000Accumulated depreciation (14,000) (10,000)Total $106,400 $116,000Accounts payable $ 14,600 $ 11,100Bonds payable 10,000 30,000Common stock 50,000 45,000Retained earnings 31,800 29,900Total $106,400 $116,000Additional information:1. Net income was $18,300. Dividends declared and paid were $16,400.2. Equipment which cost $10,000 and had accumulated depreciation of $1,200 was sold for$3,300.3. All other changes in noncurrent account balances had a direct effect on cash flows, exceptthe change in accumulated depreciation.Instructions(a) Prepare a statement of cash flows for 2011 using the indirect method.(b) Compute free cash flow.
 
the next problem is;
 
P14-3 Condensed balance sheet and income statement data for Kersenbrock Corporationappear below.KERSENBROCK CORPORATIONBalance SheetsDecember 312012 2011 2010Cash $ 25,000 $ 20,000 $ 18,000Receivables (net) 50,000 45,000 48,000Other current assets 90,000 95,000 64,000Investments 75,000 70,000 45,000Plant and equipment (net) 400,000 370,000 358,000$640,000 $600,000 $533,000Current liabilities $ 75,000 $ 80,000 $ 70,000Long-term debt 80,000 85,000 50,000Common stock, $10 par 340,000 310,000 300,000Retained earnings 145,000 125,000 113,000$640,000 $600,000 $533,000KERSENBROCK CORPORATIONIncome StatementsFor the Years Ended December 312012 2011Sales $740,000 $700,000Less: Sales returns and allowances 40,000 50,000Net sales 700,000 650,000Cost of goods sold 420,000 400,000Gross profit 280,000 250,000Operating expenses (including income taxes) 235,000 220,000Net income $ 45,000 $ 30,000Additional information:1. The market price of Kersenbrock’s common stock was $4.00, $5.00, and $8.00 for 2010, 2011,and 2012, respectively.2. All dividends were paid in cash.Instructions(a) Compute the following ratios for 2011 and 2012.(1) Profit margin.(2) Asset turnover.(3) Earnings per share. (Weighted-average common shares in 2012 were 32,000 and in 2011were 31,000.)(4) Price-earnings.(5) Payout.(6) Debt to total assets.(b) Based on the ratios calculated, discuss briefly the improvement or lackthereof in financial position and operating results from 2011 to 2012 of KersenbrockCorporation.
 
 

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