Posted: September 30th, 2021

# 7 scully corporation’s comparative balance sheets

Save Time On Research and Writing
Hire a Pro to Write You a 100% Plagiarism-Free Paper.

E14-7 Scully Corporation’s comparative balance sheets are presented below.
SCULLY CORPORATION
Comparative Balance Sheets

December 31 2008 2007
Cash \$14,300 \$10,700
Accounts receivable 21,200 23,400
Land 20,000 26,000
Building 70,000 70,000
Accumulated depreciation (15,000) (10,000)
Total  \$110,500 \$120,100

Accounts payable \$12,370 \$31,100
Common stock 75,000 69,000
Retained earnings 23,130 20,000
Total  \$110,500 \$120,100

Save Time On Research and Writing
Hire a Pro to Write You a 100% Plagiarism-Free Paper.

Net income was \$22,630. Dividends declared and paid were \$19,500.

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 \$4,900.

Complete the statement of cash flows for 2008 using the indirect method. (List multiple entries with a positive cash flow first and then the negative cash flow. List amounts from largest to smallest eg 10, 5, 3, 2. If amount decreases cash flow, use either a negative sign preceding the number eg -45 or parentheses eg (45).)

SCULLY CORPORATION
Statement of Cash Flows

For the Year Ended December 31, 2008
Cash flows from operating activities
\$
to net cash provided by operating activities
\$ Net cash by operating activities

Cash flows from investing activities

Cash flows from financing activities

Net cash by financing activities
Net in cash
Cash at beginning of period

Cash at end of period
Compute free cash flow. (If amount decreases cash flow, use either a negative sign preceding the number eg -45 or parentheses eg (45).)

### Expert paper writers are just a few clicks away

Place an order in 3 easy steps. Takes less than 5 mins.

## Calculate the price of your order

You will get a personal manager and a discount.
We'll send you the first draft for approval by at
Total price:
\$0.00
error: Content is protected !!
affordablepaperwritings.com
Hello!
You Can Now Place your Order through WhatsApp

Order your essay today and save 30% with the discount code DISCOUNTS2022