Computer Services Comapany

1 You are provided the following forms and information regarding Computer Services Comapany
Cash Flow Template – Direct Method
Cash Flow Template – Indirect Method
Comparative Balance Sheets as of December 31st, 2014 and 2013
Income Statement for the Year Ended Decmber 31st, 2014
2 Complete the Direct Cash Flow Template
Bring your questions to class
3 Complete the Indirect Cash Flow Template
Bring your questions to class
Additional Information
with a new $ 130, 000 Mortgage agreement.
Equipment 25,000
4. Issued Capital Stock of $ 20,000
5. Declared and paid in cash a $ 29,000 dividend
1. Company sold Equipment with a net book value of $ 7,000
(Historical Cost = 8,000 and Accumulated Depreciation = $1,000)
2. Boss Hogg Bank agreed to re-finance old $ 20,000 mortgage
3. Acquired the following assets for cash:
Land $ 110,000
Building 120,000
Equipment 25,000
4. Issued Capital Stock of $ 20,000
5. Declared and paid in cash a $ 29,000 dividend

Prepare Comparative Balance Sheets, Income Statement, Cash Flow Statement (Direct Method), & Cash Flow Statement (Indirect Method)