P5-7.
(Preparation of a Statement of Cash Flows and Balance Sheet)
Aero Inc. had the following balance sheet at December 31, 2013.
AERO INC.
BALANCE SHEET
DECEMBER 31, 2013
Cash $ 20,000
Accounts payable
$ 30,000
Accounts receivable 21,200 Bonds payable 41,000
Investments 32,000 Common stock
100,000
23-8
(SCF—Direct and Indirect Methods)
3
6
8
Comparative balance sheet accounts of Sharpe Company are
presented below.
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