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    25 - Mithun - 10 - 2 - Individual Assignment

    Uploaded by

    Mithun Chowdhury
    This document provides financial information for Strong Corporation for the years 2017 and 2016. It includes comparative balance sheets, additional information, and the calculated statement of cash flows using the indirect method. The statement of cash flows shows that Strong Corporation had net cash provided by operating activities of Tk. 44,600, net cash used in investing activities of Tk. 2,700, and net cash used in financing activities of Tk. 31,400, resulting in a net increase in cash of Tk. 10,500 for the year.

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    25 - Mithun - 10 - 2 - Individual Assignment

    Uploaded by

    Mithun Chowdhury
    61 views4 pages
    This document provides financial information for Strong Corporation for the years 2017 and 2016. It includes comparative balance sheets, additional information, and the calculated statement of cash flows using the indirect method. The statement of cash flows shows that Strong Corporation had net cash provided by operating activities of Tk. 44,600, net cash used in investing activities of Tk. 2,700, and net cash used in financing activities of Tk. 31,400, resulting in a net increase in cash of Tk. 10,500 for the year.

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    Bank

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    25_Mithun_10_ 2_Individual Assignment

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    This document provides financial information for Strong Corporation for the years 2017 and 2016. It includes comparative balance sheets, additional information, and the calculated statement of cash flows using the indirect method. The statement of cash flows shows that Strong Corporation had net cash provided by operating activities of Tk. 44,600, net cash used in investing activities of Tk. 2,700, and net cash used in financing activities of Tk. 31,400, resulting in a net increase in cash of Tk. 10,500 for the year.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    61 views4 pages

    25 - Mithun - 10 - 2 - Individual Assignment

    Uploaded by

    Mithun Chowdhury
    This document provides financial information for Strong Corporation for the years 2017 and 2016. It includes comparative balance sheets, additional information, and the calculated statement of cash flows using the indirect method. The statement of cash flows shows that Strong Corporation had net cash provided by operating activities of Tk. 44,600, net cash used in investing activities of Tk. 2,700, and net cash used in financing activities of Tk. 31,400, resulting in a net increase in cash of Tk. 10,500 for the year.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 4

    Bangladesh Institute of Bank Management

    Mirpur-2, Dhaka

    Certified Expert in Credit Management (CECM)


    (10th Intake: 2nd Batch, On Campus Module)

    Individual Assignment

    Name of Participant : Mithun Chowdhury


    Participant’s Serial No. : 25
    Participant’s ID No. :
    Name of Affiliated Institute : The Premier Bank limited
    Cell Phone Number :01739342797
    Email Address : mithun.barrett200@gmail.com

    Date of Submission: January 06, 2023


    Instructions

    1. Cover page of the assignment should contain the required information.


    2. Date and Mode of Submission: January 06, 2023, in both printed and soft form.

    Assignment Topic: Using the following information, prepare a statement of cash flows (indirect
    method) for Strong Corporation for the year 2017.
    Strong Corporation’s comparative balance sheets are presented below:
    STRONG CORPORATION
    Comparative Balance Sheets
    December 31
    2017 (Tk.) 2016 (Tk.)
    Assets
    Current assets:
    cash 28,200 17,700
    Accounts receivable 24,200 22,300
    Long-term assets:
    Investments 23,000 16,000
    Equipment 60,000 70,000
    Accumulated depreciation-equipment (14,000) (10,000)
    Total assets 121,400 116,000
    Liabilities and Stockholders’ Equity
    Current liabilities:
    Accounts payable 19,600 11,100
    Long-term liabilities:
    Bonds payable 10,000 30,000
    Stockholders’ equity:
    Common stock 60,000 45,000
    Retained earnings 31,800 29,900
    Total liabilities and stockholders’ equity 121,400 116,000

    Additional information:
    1. Net income was Tk. 28,300. Dividends declared and paid were Tk. 26,400.
    2. Equipment which cost Tk. 10,000 and had accumulated depreciations of Tk. 1,200 was
    sold for Tk. 4,300.
    3. All other changes in noncurrent account balances had a direct effect on cash flows,
    except the change in accumulated depreciation.

    Page 2 of 4
    STRONG CORPORATION
    Comparative Balance Sheets
    December 31

    2017 (Tk.) 2016 (Tk.) Change in


    Account Balance
    Increase/Decrease
    Assets
    Current assets:
    cash 28,200 17,700 10,500 Increase
    Accounts receivable 24,200 22,300 1,900 Increase
    Long-term assets:
    Investments 23,000 16,000 7,000 Increase
    Equipment 60,000 70,000 10,000 Decrease
    Accumulated depreciation-equipment (14,000) (10,000) 4,000 Increase
    Total assets 121,400 116,000
    Liabilities and Stockholders’ Equity
    Current liabilities:
    Accounts payable 19,600 11,100 8,500 Increase
    Long-term liabilities:
    Bonds payable 10,000 30,000 20,000 Decrease
    Stockholders’ equity:
    Common stock 60,000 45,000 15,000 Increase
    Retained earnings 31,800 29,900 1,900 Increase
    Total liabilities and stockholders’ equity 121,400 116,000

    Page 3 of 4
    STRONG CORPORATION
    Statement of Cash Flows-Indirect Method
    For the year ended December 31,2017
    Tk. Tk.
    Cash flows from operating activities
    Net Income: 28,300
    Adjustment to reconcile net income to net cash provided
    by operating activities
    Loss on disposal of equipment 4,500
    Depreciation Expense 5,200
    Increase in accounts receivable (1,900)
    Increase in accounts payable 8,500 16,300
    Net cash provided by operating activities 44,600
    Cash flow from investing activities
    Sale of equipment 4,300
    Investments (7,000)
    Net cash from investing activities (2,700)
    Issuance of common stock 15,000
    Bonds Payable (20,000)
    Payments of cash dividends (26,400)
    Net cash used by financing activities (31,400)
    Net increase in cash 10,500
    Cash at beginning of period 17,700
    Cash at end of period 28,200

    Page 4 of 4

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