December 31 2011 2010 (15,170) (10,160) $111,210 $119,830 24,100 19,770 $111,210

Question

December 31

2011

2010

(15,170)

(10,160)

$111,210

$119,830

24,100

19,770

$111,210

$119,830

Additional information:

Net income was $22,880. Dividends declared and paid were $18,550.

All other changes in noncurrent account balances had a direct effect on cash flows, except the change in accumulated depreciation. The land was sold for $4,700.

For the Year Ended December 31, 2011

$

$

Some Titles are missing from statement of cash flows that need to be included as well. Thanks

Willingham Corporation's comparative balance sheets are presented below. WILLINGHAM CORPORATION Comparative Balance Sheets

December 31

2011

2010

Cash $14,280 $10,410 Accounts receivable 21,090 23,380 Land 20,890 26,080 Building 70,120 70,120 Accumulated depreciation

(15,170)

(10,160)

     Total

$111,210

$119,830

Accounts payable $12,230 $31,110 Common stock 74,880 68,950 Retained earnings

24,100

19,770

     Total

$111,210

$119,830

Additional information:

1. Net income was $22,880. Dividends declared and paid were $18,550.

2. All other changes in noncurrent account balances had a direct effect on cash flows, except the change in accumulated depreciation. The land was sold for $4,700.

Explanation / Answer

WILLINGHAM CORPORATION

Statement Of Cashflow

For the year ended deccember 31 2011

Particulars

$

$

WILLINGHAM CORPORATION

Statement Of Cashflow

For the year ended deccember 31 2011

Particulars

$

$

Cash flows from operating activities: Net Income 22,880 Accumulated depreciation 5,010 Adjustments to reconcile net income to net cash provided by operating activities: Add: Accountsreceivables 2,290 Less:Accounts payable -18,880 Net cash used in operating activities -11,580 Cash flows from investing activities: Sale of land 5,190 Net Cash provided by investing activities 5,190 Cash flows from financing activities: Common stock issued 5,930 Dividend paid -18,550 Net cash used in financing activities -12,620 Increase in cash 3,870 Cash at the beginning 10,410 Cash at the ending 14,280

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