Decision Making

Statement of Cash Flows Problem
Christian M. Gonzalez
University of Phoenix
ACC539: Accounting for Managerial Decision Making
Group# GA04MBA07
Chee-Sum Tan, CPA, CFA, FCCA, MBA
March 10, 2005

P9.28.   The strategy is to enter the amount of the change for each asset, liability and owners' equity                 item between the two dates.   Each of these changes will be used in the Statement of Cash                     Flows.   (Note: Because the retained earnings section of the balance sheet is, in and of itself, an analysis of the change in the retained earnings account for the month, total net income and total dividends for the month of February are shown as changes).

                                                                  MILLCO, INC.
                                                                    Balance Sheets
                                                      January 31 and February 28, 2004

            Assets:                                                                           Feb. 28         Jan. 31       Change
            Cash $   42,000     $   37,000       +5,000
            Accounts receivable     64,000         53,000     +11,000
            Merchandise inventory     81,000         94,000     -13,000
                Total current assets $187,000     $184,000
            Plant and Equipment:
                Production equipment $166,000     $152,000     +14,000
                Less: Accumulated depreciation     (24,000)       (21,000)     +(3,000)
            Total assets $329,000     $315,000

            Liabilities:
            Short-term debt $   44,000     $   44,000                 0
            Accounts payable     37,000         41,000       - 4,000
            Other accrued liabilities     21,000         24,000       - 3,000
                Total current liabilities $102,000     $109,000
            Long-term debt     33,000         46,000...
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