Exotic adventures statement of cash flows
Exotic adventures statement of cash flows
Exotic adventures, a chain of stores servicing the ecotourism industry, has provided you with the folloing list of accounts and balances for the year ended june 30, 2012. All amounts shown are in thousands of dollars. You have been asked by the company’s CFO to use a spreadsheet to prepare financial statements for exotic advenures, including income statement, retained earnings, and balance sheet. The CFO cant remember the AR balance. She asked you to figure it out when you prepare the balance sheet. FINANCIALS Financial Statement Preparation Exotic Adventures Years Ended June 30 2012 2011 Accounts payable $764.8 $771.8 Accounts receivable ? 315.8 Accumulated depreciation – buildings 512.8 473.6 Accumulated depreciation – fixtures 689.6 729.0 Advances from customers 21.0 25.8 Advertising expense 271.0 256.0 Allowance for bad debts 12.6 12.6 Bad debt expense 23.0 30.0 Bonds payable (due 9/1/20) 916.6 516.6 Buildings 1,166.4 1,166.4 Cash 112.8 98.8 Common stock 470.4 422.4 Copyrights 20.8 22.4 Cost of goods sold 5,727.8 6,488.0 Depreciation expense 227.8 204.0 Discontinued operations loss (net of tax) 376.6 0.0 Dividends declared on common 201.8 180.0 Dividends declared on preferred 21.2 21.2 Fixtures 1,789.4 1,737.0 Gain on the sale of old fixtures 108.8 0.0 Goodwill 106.8 113.4 Income tax expense 280.2 40.0 Income tax payable 75.0 100.0 Interest expense 77.6 70.0 Interest payable 14.2 9.4 Inventories 690.2 510.2 Land 201.8 201.8 Long-term notes payable 99.4 121.6 Other operating expenses 691.2 1,000.0 Paid in capital in excess of par 361.4 333.4 Preferred stock 265.8 265.8 Prepaid advertising 65.6 84.2 Rent expense 0.0 650.0 Retained earnings (beginning of year) 613.0 538.2 Salaries expense 1,246.2 1,428.0 Salaries payable 121.2 111.4 Sales 9,173.2 10,766.0 Short-term investments 267.8 56.0 Short-term notes payable 9.4 27.8 Supplies expense 256.4 324.0 Treasury stock (at cost) 228.2 228.2
