Exotic adventures_Statement of cash flows

$21.00

Description

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

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