The comparative steadiness sheets for
2016 and 2015 and the assertion of revenue for 2016 are given beneath for Dux
Firm. Extra info from Dux’s accounting data is supplied additionally.
DUX COMPANY
Comparative Stability
Sheets
December 31, 2016 and
2015($ in 000s)
2016
2015
Belongings
Cash
$ 33
$ 20
Accounts receivable
44
47
Dividends receivable
three
2
Stock
55
50
Lengthy-term funding
15
10
Land
70
40
Buildings and gear
225
250
?Much less: Collected depreciation
(25)
(50)
$420
$369
Liabilities
2016
2015
Accounts payable
$ 13
$ 20
Salaries payable
2
5
Curiosity payable
four
2
Earnings tax payable
7
eight
Notes payable
30
zero
Bonds payable
95
70
?Much less: Low cost on bonds
(2)
(three)
Shareholders’ Fairness
Frequent inventory
210
200
Paid-in capitalâextra of par
24
20
Retained earnings
45
47
?Much less: Treasury inventory
(eight)
zero
$420
$369
DUX
COMPANY
Earnings
Assertion
For
the Yr Ended December 31, 2016($ in 000s)
Revenues
2016
2015
?Gross sales income
$200
?Dividend income
three
$203
Bills
?Value of items bought
120
?Salaries expense
25
?Depreciation expense
5
?Curiosity expense
eight
?Loss on sale of
constructing
three
?Earnings tax expense
17
178
Internet revenue
$ 25
Extra info from the accounting data:
·
A constructing that initially price
$40,000, and which was three-fourths depreciated, was bought for $7,000.
·
The widespread inventory of Byrd Company
was bought for $5,000 as a long-term funding.
·
Property was acquired by issuing a
13%, seven-year, $30,000 word payable to the vendor.
·
New gear was bought for
$15,000 cash.
·
On January 1, 2016, bonds have been bought
at their $25,000 face worth.
·
On January 19, Dux issued a 5% inventory
dividend (1,000 shares). The market worth of the $10 par worth widespread inventory was
$14 per share at the moment.
·
Cash dividends of $13,000 have been paid
to shareholders.
·
On November 12, 500 shares of widespread
inventory have been repurchased as treasury inventory at a value of $eight,000.
Required:
Put together the assertion of cash flows
of Dux Firm for the 12 months ended December 31, 2016. Current cash flows from
working actions by the direct technique. (Chances are you’ll omit the schedule to
reconcile web revenue to cash flows from working actions.)
