DelTek Inc s income statement and comparative balance

sheets appear as #665

DelTek, Inc.’s income statement and comparative balance sheets appear as follows:Additional
information related to business activities during 2014:1. All accounts payable pertain to
inventory purchases, and accrued liabilities pertain to other operating expenses.2. The original
cost of the equipment sold was $19,600. New equipment was purchased and 6,000 common
shares at $10/share were issued as a partial payment.3. DelTek purchased some land and
borrowed $20,000 from a mortgage company as a partial payment.4. DelTek declared a
dividend on December 24 to be paid on January 24, 2015.Requirements1. Identify source and
use of cash for each account in the balance sheet.2. Calculate the cash receipt from the sale of
equipment and the cost of the new equipment, using T-accounts to show your calculations.3.
Calculate the amount of cash dividend declared and cash dividend paid, using T-accounts to
show your calculations.4. Prepare a cash flow statement, using the indirect method.5. Prepare
the cash flow from operating activities section by using the direct method.View Solution:
DelTek Inc s income statement and comparative balance sheets appear as

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