Tugas Ch 1, 2 Dan 4 Inter I Sepr 17

LATIHAN CASH Flow ABC Incorporation Statement of Financial Position December 31, 2013 Assets Cash Account Receivable Land Equipment (net) Investment

$ 20,000 21,200 40,000 81,000

Equity and Liabilities Account payable $30,000 Long-term notes payable 41,000 100,000 Share capital-ordinary

Retained earnings

32,000 $194,200

23,200 $194,200

ABC Incorporation had the statement of financial position shown at December 2013. During 2014, the following occurred. 1. $11,600 part of ABC Inc.’s investment was sold at a gain of $3,400 for the firm 2. A track of land was purchased for $18,000 cash 3. Long term notes payable in the amount of $16,000 were retired before maturity by paying $16,000 cash 4. An additional $20,000 in ordinary shares were issued at par 5. Dividends totaling $8,200 were declared and paid to shareholder 6. Ending Retained Earnings for 2014 was $47,000. 7. Land was purchased through the issuance of $30,000 in bonds. 8. At December 31,2014, Cash was $32,000, Account Receivable was $41,600, Book value of Equipment was $70,000 (net) and Account Payable remained $30,000 Instructions: a. Prepare a statement of cash flow for 2014 (under indirect method) b. If therse is any non cash transaction occur, What should company do ?