Question Details

Dredd Company has begun a worksheet 



Ex. 1
The following information is available for Young Corporation:
Capital expenditures	$115,000
Cash dividends	75,000
Cash provided by operations	220,000
Net income	130,000
Sales	600,000

Instructions
Compute Young Corporation's free cash flow.


aEx. 2
Dredd Company has begun a worksheet for preparing a statement of cash flows. The following additional information is provided:
	1.	Cash dividends of $8,000 were paid during the year.
	2.	Land which originally cost $60,000 was sold for $52,000.
	3.	Common stock was issued at par value for cash.
Instructions
Complete the worksheet for Judge Company.

DREDD COMPANY
Worksheet
Statement of Cash Flows
For the Year Ended December 31, 2014
	Balance	Reconciling Items	Balance
Balance Sheet Accounts	12/31/13	Debits	Credits	12/31/14
	Debits
Cash	30,000	60,000
Accounts receivable	40,000	54,000
Inventory	90,000	112,000
Land	60,000	-0-
Equipment	131,000	142,000
	Total	351,000	368,000
	Credits
Accounts payable	15,000	10,000
Bonds payable	25,000	10,000
Accumulated depreciation—
  equipment	81,000	96,000
Common stock	170,000	180,000
Retained earnings	  60,000	  72,000
	Total	351,000	368,000
Statement of Cash Flows Effects
Operating activities
	Net income					20,000



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