Chapter 10
The Statement of Cash Flow
523
AP-14B (
2
3
6
)
The balance sheet and income statement for Twely Inc. are presented below.
Twely Inc.
Balance Sheet
As at December 31
2016
2015
Assets
Cash
$62,927
$56,000
Accounts Receivable
27,000
23,000
Inventory
24,500
18,000
Total Current Assets
114,427
97,000
Property, Plant and Equipment
Long-Term Investment
42,000
45,000
Land
119,000
100,000
Equipment
89,000
76,000
Less: Accumulated Depreciation
(28,200)
(24,000)
Total Assets
$336,227
$294,000
Liabilities
Accounts Payable
$29,000
$25,000
Current Portion of Bank Loan
22,000
22,000
Total Current Liabilities
51,000
47,000
Non-Current Portion of Bank Loan
79,000
65,000
Total Liabilities
130,000
112,000
Shareholders’ Equity
Common Shares
85,000
85,000
Retained Earnings
121,227
97,000
Shareholders’ Equity
206,227
182,000
Liabilities and Shareholders’ Equity
$336,227
$294,000
