(Solved) The controller of the Rat Rack Corporation has provided you with the following information:Payments ...

The controller of the Rat Rack Corporation has provided you with the following information:

Payments of non-current debt   $130,000
Collections on accounts receivable   114,200
Interest revenue   6,600
Credit sales   265,600
Loan collections   125,200
Salary expense   140,700
Proceeds from sale of capital assets, not including
$7,200 loss   33,500
Cash receipt of dividend revenue   20,200
Payment of salaries   99,600
depreciation expense   55,500
Cash sales   325,000
Proceeds from issuance of common shares   450,000
Loan to another company   60,000
Interest expense and payments   41,000
Bonds payable converted into common shares   140,000
Payments to suppliers   255,000
Cash payments to purchase capital assets   62,000
Cost of goods sold   325,000
Collection of interest revenue   15,500
Acquisition of equipment by issuing non-current
note payable   185,000
Payment of cash dividends   36,200
Income tax expense and payments   51,500
Cash balance: December 31, 2013   65,500
Cash balance: December 31, 2014   413,800

Prepare the cash flow statement for the year ended December 31, 2014 using the direct method under ASPE and including a schedule of noncash investing and financing activities, if necessary.

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The controller of the Rat Rack Corporation has provided you with the following information:Payments ...

Exploring Microsoft Office 2013, Volume 2, Canadian Edition

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