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Canvas Exercise on Preparation of Cash Flow Statement Ramos Corporations...

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Accounting

Canvas Exercise on Preparation of Cash Flow Statement
Ramos Corporations comparative Statements of Financial Position are presented below:
Ramos Corporation
Comparative Statements of Financial Position
Dec.11,2019
20192018
Cash P 15,200 P 17,700
Accounts Receivable 25,20022,300
Investments 20,00016,000
Equipment 60,00070,000
Accumulated Depreciation- Equipment (14,000)
(10,000)
Total 106,400116,000
Liabilities and Stockholders Equity
Accounts Payable P 14,600 P 11,100
Bonds Payable 10,00030,000
Common Stock 50,00045,000
Retained Earnings 31,80029,900
Total 106,400116,000
Additional information:
1. Net income was P 18,300. Dividends declared and paid were P 16,400.
2. Equipment which cost P10,000 and had accumulated depreciation of P1,200 was sold for P3,300.
3. No noncash investing and financing activities occurred in 2019.
Prepare a Statement of Cash Flows for 2019 using the indirect method.

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