You work for a CPA firm that has been hired by Widget Tek Inc., a merchandising company that is getting ready to expand. The president of Widget Tek Inc. is concerned with obtaining a loan for the expansion and wants to be sure that all the financial statements accurately reflect the company’s accounting records.
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's accounting records, including the general ledger, accounts receivable, accounts payable, inventory, and any other relevant financial data. Ensure that all transactions are accurately recorded and categorized. Show more…
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Akash M.
Pratt & Jordan Development, Inc., constructs homes and offices and sells them to customers. The financial information shown below was gathered from its accounting records for 2009. Assume any increase or decrease in the balances from 1/1/09 to 12/31/09 resulted from either receiving or paying cash in the transaction. For example, during 2009 the balance on loans for land holdings increased $75,000 because the company received $75,000 in cash by taking out an additional loan on the land. Prepare a statement of cash flows for Pratt \& Jordan Development, Inc., for the year ended December 31, 2009. Interpretive Question: Does Pratt \& Jordan Development, Inc., appear to be in good shape from a cash flow standpoint? What other information would help you analyze the situation?
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Horngren’s Cost Accounting
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Principles of Accounting Volume 1: Financial Accounting
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