Homework Assignment 10 Due by 5:00 PM on Monday April 16 as pdr Ble upload...
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Accounting
Homework Assignment 10 Due by 5:00 PM on Monday April 16 as pdr Ble upload on Blackboard Comparative Balance Sheets and some additional information for Red Company are given below. All figures in the table below are in millions of dollars. Red reports on a fiscal year ending December 31" Cash 25 45 (15) 160 200 420 (160) 675 20 90 (20) 135 225 Accounts Receivable Allowance for Bad Debts Merchandize Inventories Land Plant and Equipment Accumulated Depreciation Total Assets Liabilities and Equity Accounts Payable Taxes Payable Long term Debt Contributed Capital Retained Earnings Total Liabilities and Equity (170) 700 20 15 255 330 80 700 30 265 290 90 675 Additional Information Red's net income for calendar year 2001 was $50 million. 1. 2. During 2001, Red sold plant and equipment with an original acquisition cost of $50 million at a loss of $10 million. 3. Red's depreciation expense for 2001 was $25 million. Prepare in good form Red's Cash Flow Statement for 2001
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