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Need help with accounting 101- 2 questions statement of cash flow

Please complete problem p12-7b and p12-8b

;Additional data: ;

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;1. Depreciation expense was $6,000. ;

;2. Dividends of $28,000 were declared and paid. ;

;3. During the year, equipment was sold for $10,000 cash. This equipment cost $13,000 ;

originally and had accumulated depreciation of $3,000 at the time of sale. ;

;4. Additional equipment was purchased for $8,000 cash. ;

Instructions ;

(a) Prepare a statement of cash flows using the indirect method. ;

(b) Compute these cash-based measures: ;

;(1) Current cash debt coverage. ;

;(2) Cash debt coverage. ;

;(3) Free cash flow. ;

*P12-8B Data for Filmore Company are presented in P12-7B. Further analysis reveals the ;following. ;

;1. Accounts payable pertains to merchandise creditors. ;

;2. All operating expenses except for depreciation are paid in cash. ;

;3. All depreciation expense is in the selling expense category. ;

;4. All sales and purchases are on account. ;

Instructions ;(a) Prepare a statement of cash flows using the direct method. ;

(b) Compute these cash-based measures: ;

;(1) Current cash debt coverage. ;

;(2) Cash debt coverage. ;

;(3) Free cash flow. ;

accounting homework

; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ;

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