12:14 AM (CDT) Privacy Statement Terms and Conditions Contact Us © 2015 American InterContinental University.  All Rights Reserved. Authorized Users Only. Unit 2 - Individual Project Assignment Details Assignment Description The SCQ Corporation manufactures specialty medical tools ranging from $10,000 to$15,000 per unit. The tools are used in hospitals, clinics, and the home hospitality market. SCQ Corporation has contracted with YOUCPA to assist in creating its cash flow statement. In the past, its income statement and balance sheet have been prepared by the internal accountant. It would like you to assist in preparing the cash flows using both the direct and indirect method. Sales and balance sheet information for the years 2009–2010 are below: Balance Sheet SCQ Corporation For period ending 12/31/2010 Assets 2010 2009Liabilities 2010 2009 Cash 150 100 Account receivable 600 400Accounts payable 400 300 Inventory 750 500Accrued taxes payable 200 100 Current assets 1,500 1,000Current liabilities 600 400 Land 50 50 Equipment 1,300 1,200Note payable 330 300 Less: Acc. depreciation 700 600Deferred taxes 35 20 Net fixed assets 600 600Equity: Total fixed assets 650 650Common stock 640 500 Paid-in capital 80 80 Retain earnings 465 350 Total equity 1,185 930 Total assets 2,150 1,650Total equity and liabilities 2,150 1,650 Income Statement SCQ Corporation For period ending 12/31/ 2010 Items 20102009 Revenue 1,000 900 Cost of goods sold 400 350 Gross profit 600 550 Wages expense 110 100 Interest expense 50 40 Depreciation expense 100 90 Insurance expense 50 50 Other misc. expenses 90 80 Total expenses 400 360 Operating income 200 190 Taxes: Deferred taxes 15 20 Taxes expense 70 67 Net income after taxes 115 103 Additions to retains earnings 115 103 The information below can be used to complete the direct method of cash flow: Cash flows from operating activities 2010 Cash receipts Received from sales of goods 930 Paid for inventory 400 Paid for employees 110 Paid for interest 50 Paid for taxes 70 Paid for other expenses 320 Cash paid for equipment 100 Cash received for common stock 120 Cash received from note payable 30 Assignment Guidelines: A. Indirect method cash flow/cash flow statement: a. What is the operational cash flow? b. What is the investing cash flow? c. What is the financing cash flow? B. Direct method cash flow: a. What is the operational cash flow? b. What is the investing cash flow? c. What is the financing cash flow? C. What are the differences in the cash flow concepts and procedures between the direct and indirect methods? Please submit your assignment. Your assignment will be graded in accordance with the following criteria. Click here to view the grading rubric. For assistance with your assignment, please use your text, Web resources, and all course materials. Reading Assignment Schroeder, Clark & ...

1. 12:14 AM (CDT)
Privacy Statement Terms and Conditions Contact Us
© 2015 American InterContinental University.
All Rights Reserved. Authorized Users Only.
Unit 2 - Individual Project
Assignment Details
Assignment Description
The SCQ Corporation manufactures specialty medical tools
ranging from $10,000 to$15,000 per unit. The tools are used in
hospitals, clinics, and the home hospitality
market. SCQ Corporation has contracted with YOUCPA to
assist in creating its cash flow statement. In the past, its income
statement and balance sheet have been
prepared by the internal accountant.
It would like you to assist in preparing the cash flows using bot
h the direct and indirect method. Sales and balance sheet inform
ation for the years 2009–2010 are below:
Balance Sheet
SCQ Corporation
For period ending 12/31/2010

2. Assets 2010 2009Liabilities 2010 2009
Cash 150 100
Account receivable 600 400Accounts payable 400 300
Inventory 750 500Accrued taxes payable 200 100
Current assets 1,500 1,000Current liabilities 600 400
Land 50 50
Equipment 1,300 1,200Note payable 330 300
Less: Acc. depreciation 700 600Deferred taxes 35 20
Net fixed assets 600 600Equity:
Total fixed assets 650 650Common stock 640 500
Paid-in capital 80 80
Retain earnings 465 350
Total equity 1,185 930
Total assets 2,150 1,650Total equity and liabilities 2,150 1,650
Income Statement
SCQ Corporation
For period ending 12/31/ 2010
Items 20102009

3. Revenue 1,000 900
Cost of goods sold 400 350
Gross profit 600 550
Wages expense 110 100
Interest expense 50 40
Depreciation expense 100 90
Insurance expense 50 50
Other misc. expenses 90 80
Total expenses 400 360
Operating income 200 190
Taxes:
Deferred taxes 15 20
Taxes expense 70 67
Net income after taxes 115 103
Additions to retains earnings 115 103
The information below can be used to complete the direct
method of cash flow:
Cash flows from operating activities 2010

4. Cash receipts
Received from sales of goods 930
Paid for inventory 400
Paid for employees 110
Paid for interest 50
Paid for taxes 70
Paid for other expenses 320
Cash paid for equipment 100
Cash received for common stock 120
Cash received from note payable 30
Assignment Guidelines:
A. Indirect method cash flow/cash flow statement:
a. What is the operational cash flow?
b. What is the investing cash flow?
c. What is the financing cash flow?
B. Direct method cash flow:
a. What is the operational cash flow?
b. What is the investing cash flow?

5. c. What is the financing cash flow?
C. What are the differences in the cash flow concepts and
procedures between the direct and indirect methods?
Please submit your assignment.
Your assignment will be graded in accordance with the
following criteria. Click here to view the grading rubric.
For assistance with your assignment, please use your text, Web
resources, and all course materials.
Reading Assignment
Schroeder, Clark & Cathey: Chapters 5, 6, 7, 17
Assignment Objectives
Construct a thorough understanding of accounting standards and
principles
Execute the core accounting educational requirement to sit for
the CPA exam
Achieve abilities to practice in public and private accounting
positions
Advance to a higher professional level
Other Information
There is no additional information to display at this time.
Legend
Extra Credit View Assignment Rubric

6. Assignment Details
Assignment Description
The SCQ Corporation manufactures specialty medical tools
ranging from $10,000 to$15,000 per unit. The tools are used in
hospitals, clinics, and the home hospitality
market. SCQ Corporation has contracted with YOUCPA to
assist in creating its cash flow statement. In the past, its income
statement and balance sheet have been
prepared by the internal accountant.
It would like you to assist in preparing the cash flows using bot
h the direct and indirect method. Sales and balance sheet inform
ation for the years 2009–2010 are below:
Balance Sheet
SCQ Corporation
For period ending 12/31/2010
Assets 2010 2009Liabilities 2010 2009
Cash 150 100
Account receivable 600 400Accounts payable 400 300
Inventory 750 500Accrued taxes payable 200 100
Current assets 1,500 1,000Current liabilities 600 400
Land 50 50

7. Equipment 1,300 1,200Note payable 330 300
Less: Acc. depreciation 700 600Deferred taxes 35 20
Net fixed assets 600 600Equity:
Total fixed assets 650 650Common stock 640 500
Paid-in capital 80 80
Retain earnings 465 350
Total equity 1,185 930
Total assets 2,150 1,650Total equity and liabilities 2,150 1,650
Income Statement
SCQ Corporation
For period ending 12/31/ 2010
Items 20102009
Revenue 1,000 900
Cost of goods sold 400 350
Gross profit 600 550
Wages expense 110 100
Interest expense 50 40
Depreciation expense 100 90

8. Insurance expense 50 50
Other misc. expenses 90 80
Total expenses 400 360
Operating income 200 190
Taxes:
Deferred taxes 15 20
Taxes expense 70 67
Net income after taxes 115 103
Additions to retains earnings 115 103
The information below can be used to complete the direct
method of cash flow:
Cash flows from operating activities 2010
Cash receipts
Received from sales of goods 930
Paid for inventory 400
Paid for employees 110
Paid for interest 50
Paid for taxes 70

9. Paid for other expenses 320
Cash paid for equipment 100
Cash received for common stock 120
Cash received from note payable 30
Assignment Guidelines:
A. Indirect method cash flow/cash flow statement:
a. What is the operational cash flow?
b. What is the investing cash flow?
c. What is the financing cash flow?
B. Direct method cash flow:
a. What is the operational cash flow?
b. What is the investing cash flow?
c. What is the financing cash flow?
C. What are the differences in the cash flow concepts and
procedures between the direct and indirect methods?
Please submit your assignment.
Your assignment will be graded in accordance with the
following criteria. Click here to view the grading rubric.
For assistance with your assignment, please use your text, Web
resources, and all course materials.

10. Reading Assignment
Schroeder, Clark & Cathey: Chapters 5, 6, 7, 17
Assignment Objectives
Construct a thorough understanding of accounting standards and
principles
Execute the core accounting educational requirement to sit for
the CPA exam
Achieve abilities to practice in public and private accounting
positions
Advance to a higher professional level
Other Information
There is no additional information to display at this time.
Legend
Extra Credit View Assignment Rubric
Assignment Overview
Type: Individual Project
Unit: Financial Accounting and Reporting (FAR)
Due Date: Sun, 5/8/16
Grading Type: Numeric
Points Possible: 125

11. Points Earned: 0
Deliverable Length: 500-1,000 words
Go To:
Assignment Details
Learning Materials
Reading Assignment
My Work:
Online Deliverables: Submissions
12:14 AM (CDT)
Privacy Statement Terms and Conditions Contact Us
© 2015 American InterContinental University.
All Rights Reserved. Authorized Users Only.
Unit 2 - Individual Project
Assignment Details
Assignment Description
The SCQ Corporation manufactures specialty medical tools
ranging from $10,000 to$15,000 per unit. The tools are used in
hospitals, clinics, and the home hospitality

12. market. SCQ Corporation has contracted with YOUCPA to
assist in creating its cash flow statement. In the past, its income
statement and balance sheet have been
prepared by the internal accountant.
It would like you to assist in preparing the cash flows using bot
h the direct and indirect method. Sales and balance sheet inform
ation for the years 2009–2010 are below:
Balance Sheet
SCQ Corporation
For period ending 12/31/2010
Assets 2010 2009Liabilities 2010 2009
Cash 150 100
Account receivable 600 400Accounts payable 400 300
Inventory 750 500Accrued taxes payable 200 100
Current assets 1,500 1,000Current liabilities 600 400
Land 50 50
Equipment 1,300 1,200Note payable 330 300
Less: Acc. depreciation 700 600Deferred taxes 35 20
Net fixed assets 600 600Equity:
Total fixed assets 650 650Common stock 640 500

13. Paid-in capital 80 80
Retain earnings 465 350
Total equity 1,185 930
Total assets 2,150 1,650Total equity and liabilities 2,150 1,650
Income Statement
SCQ Corporation
For period ending 12/31/ 2010
Items 20102009
Revenue 1,000 900
Cost of goods sold 400 350
Gross profit 600 550
Wages expense 110 100
Interest expense 50 40
Depreciation expense 100 90
Insurance expense 50 50
Other misc. expenses 90 80
Total expenses 400 360
Operating income 200 190

14. Taxes:
Deferred taxes 15 20
Taxes expense 70 67
Net income after taxes 115 103
Additions to retains earnings 115 103
The information below can be used to complete the direct
method of cash flow:
Cash flows from operating activities 2010
Cash receipts
Received from sales of goods 930
Paid for inventory 400
Paid for employees 110
Paid for interest 50
Paid for taxes 70
Paid for other expenses 320
Cash paid for equipment 100
Cash received for common stock 120
Cash received from note payable 30
Assignment Guidelines:

15. A. Indirect method cash flow/cash flow statement:
a. What is the operational cash flow?
b. What is the investing cash flow?
c. What is the financing cash flow?
B. Direct method cash flow:
a. What is the operational cash flow?
b. What is the investing cash flow?
c. What is the financing cash flow?
C. What are the differences in the cash flow concepts and
procedures between the direct and indirect methods?
Please submit your assignment.
Your assignment will be graded in accordance with the
following criteria. Click here to view the grading rubric.
For assistance with your assignment, please use your text, Web
resources, and all course materials.
Reading Assignment
Schroeder, Clark & Cathey: Chapters 5, 6, 7, 17
Assignment Objectives
Construct a thorough understanding of accounting standards and
principles

16. Execute the core accounting educational requirement to sit for
the CPA exam
Achieve abilities to practice in public and private accounting
positions
Advance to a higher professional level
Other Information
There is no additional information to display at this time.
Legend
Extra Credit View Assignment Rubric
Assignment Details
Assignment Description
The SCQ Corporation manufactures specialty medical tools
ranging from $10,000 to$15,000 per unit. The tools are used in
hospitals, clinics, and the home hospitality
market. SCQ Corporation has contracted with YOUCPA to
assist in creating its cash flow statement. In the past, its income
statement and balance sheet have been
prepared by the internal accountant.
It would like you to assist in preparing the cash flows using bot
h the direct and indirect method. Sales and balance sheet inform
ation for the years 2009–2010 are below:
Balance Sheet

17. SCQ Corporation
For period ending 12/31/2010
Assets 2010 2009Liabilities 2010 2009
Cash 150 100
Account receivable 600 400Accounts payable 400 300
Inventory 750 500Accrued taxes payable 200 100
Current assets 1,500 1,000Current liabilities 600 400
Land 50 50
Equipment 1,300 1,200Note payable 330 300
Less: Acc. depreciation 700 600Deferred taxes 35 20
Net fixed assets 600 600Equity:
Total fixed assets 650 650Common stock 640 500
Paid-in capital 80 80
Retain earnings 465 350
Total equity 1,185 930
Total assets 2,150 1,650Total equity and liabilities 2,150 1,650
Income Statement
SCQ Corporation

18. For period ending 12/31/ 2010
Items 20102009
Revenue 1,000 900
Cost of goods sold 400 350
Gross profit 600 550
Wages expense 110 100
Interest expense 50 40
Depreciation expense 100 90
Insurance expense 50 50
Other misc. expenses 90 80
Total expenses 400 360
Operating income 200 190
Taxes:
Deferred taxes 15 20
Taxes expense 70 67
Net income after taxes 115 103
Additions to retains earnings 115 103
The information below can be used to complete the direct
method of cash flow:

19. Cash flows from operating activities 2010
Cash receipts
Received from sales of goods 930
Paid for inventory 400
Paid for employees 110
Paid for interest 50
Paid for taxes 70
Paid for other expenses 320
Cash paid for equipment 100
Cash received for common stock 120
Cash received from note payable 30
Assignment Guidelines:
A. Indirect method cash flow/cash flow statement:
a. What is the operational cash flow?
b. What is the investing cash flow?
c. What is the financing cash flow?
B. Direct method cash flow:
a. What is the operational cash flow?

20. b. What is the investing cash flow?
c. What is the financing cash flow?
C. What are the differences in the cash flow concepts and
procedures between the direct and indirect methods?
Please submit your assignment.
Your assignment will be graded in accordance with the
following criteria. Click here to view the grading rubric.
For assistance with your assignment, please use your text, Web
resources, and all course materials.
Reading Assignment
Schroeder, Clark & Cathey: Chapters 5, 6, 7, 17
Assignment Objectives
Construct a thorough understanding of accounting standards and
principles
Execute the core accounting educational requirement to sit for
the CPA exam
Achieve abilities to practice in public and private accounting
positions
Advance to a higher professional level
Other Information
There is no additional information to display at this time.

21. Legend
Extra Credit View Assignment Rubric
Assignment Overview
Type: Individual Project
Unit: Financial Accounting and Reporting (FAR)
Due Date: Sun, 5/8/16
Grading Type: Numeric
Points Possible: 125
Points Earned: 0
Deliverable Length: 500-1,000 words
Go To:
Assignment Details
Learning Materials
Reading Assignment
My Work:
Online Deliverables: Submissions
12:14 AM (CDT)

22. Privacy Statement Terms and Conditions Contact Us
© 2015 American InterContinental University.
All Rights Reserved. Authorized Users Only.
Unit 2 - Individual Project
Assignment Details
Assignment Description
The SCQ Corporation manufactures specialty medical tools
ranging from $10,000 to$15,000 per unit. The tools are used in
hospitals, clinics, and the home hospitality
market. SCQ Corporation has contracted with YOUCPA to
assist in creating its cash flow statement. In the past, its income
statement and balance sheet have been
prepared by the internal accountant.
It would like you to assist in preparing the cash flows using bot
h the direct and indirect method. Sales and balance sheet inform
ation for the years 2009–2010 are below:
Balance Sheet
SCQ Corporation
For period ending 12/31/2010
Assets 2010 2009Liabilities 2010 2009
Cash 150 100
Account receivable 600 400Accounts payable 400 300

23. Inventory 750 500Accrued taxes payable 200 100
Current assets 1,500 1,000Current liabilities 600 400
Land 50 50
Equipment 1,300 1,200Note payable 330 300
Less: Acc. depreciation 700 600Deferred taxes 35 20
Net fixed assets 600 600Equity:
Total fixed assets 650 650Common stock 640 500
Paid-in capital 80 80
Retain earnings 465 350
Total equity 1,185 930
Total assets 2,150 1,650Total equity and liabilities 2,150 1,650
Income Statement
SCQ Corporation
For period ending 12/31/ 2010
Items 20102009
Revenue 1,000 900
Cost of goods sold 400 350
Gross profit 600 550

24. Wages expense 110 100
Interest expense 50 40
Depreciation expense 100 90
Insurance expense 50 50
Other misc. expenses 90 80
Total expenses 400 360
Operating income 200 190
Taxes:
Deferred taxes 15 20
Taxes expense 70 67
Net income after taxes 115 103
Additions to retains earnings 115 103
The information below can be used to complete the direct
method of cash flow:
Cash flows from operating activities 2010
Cash receipts
Received from sales of goods 930
Paid for inventory 400

25. Paid for employees 110
Paid for interest 50
Paid for taxes 70
Paid for other expenses 320
Cash paid for equipment 100
Cash received for common stock 120
Cash received from note payable 30
Assignment Guidelines:
A. Indirect method cash flow/cash flow statement:
a. What is the operational cash flow?
b. What is the investing cash flow?
c. What is the financing cash flow?
B. Direct method cash flow:
a. What is the operational cash flow?
b. What is the investing cash flow?
c. What is the financing cash flow?
C. What are the differences in the cash flow concepts and
procedures between the direct and indirect methods?
Please submit your assignment.

26. Your assignment will be graded in accordance with the
following criteria. Click here to view the grading rubric.
For assistance with your assignment, please use your text, Web
resources, and all course materials.
Reading Assignment
Schroeder, Clark & Cathey: Chapters 5, 6, 7, 17
Assignment Objectives
Construct a thorough understanding of accounting standards and
principles
Execute the core accounting educational requirement to sit for
the CPA exam
Achieve abilities to practice in public and private accounting
positions
Advance to a higher professional level
Other Information
There is no additional information to display at this time.
Legend
Extra Credit View Assignment Rubric
Assignment Details
Assignment Description
The SCQ Corporation manufactures specialty medical tools

27. ranging from $10,000 to$15,000 per unit. The tools are used in
hospitals, clinics, and the home hospitality
market. SCQ Corporation has contracted with YOUCPA to
assist in creating its cash flow statement. In the past, its income
statement and balance sheet have been
prepared by the internal accountant.
It would like you to assist in preparing the cash flows using bot
h the direct and indirect method. Sales and balance sheet inform
ation for the years 2009–2010 are below:
Balance Sheet
SCQ Corporation
For period ending 12/31/2010
Assets 2010 2009Liabilities 2010 2009
Cash 150 100
Account receivable 600 400Accounts payable 400 300
Inventory 750 500Accrued taxes payable 200 100
Current assets 1,500 1,000Current liabilities 600 400
Land 50 50
Equipment 1,300 1,200Note payable 330 300
Less: Acc. depreciation 700 600Deferred taxes 35 20
Net fixed assets 600 600Equity:

28. Total fixed assets 650 650Common stock 640 500
Paid-in capital 80 80
Retain earnings 465 350
Total equity 1,185 930
Total assets 2,150 1,650Total equity and liabilities 2,150 1,650
Income Statement
SCQ Corporation
For period ending 12/31/ 2010
Items 20102009
Revenue 1,000 900
Cost of goods sold 400 350
Gross profit 600 550
Wages expense 110 100
Interest expense 50 40
Depreciation expense 100 90
Insurance expense 50 50
Other misc. expenses 90 80
Total expenses 400 360

29. Operating income 200 190
Taxes:
Deferred taxes 15 20
Taxes expense 70 67
Net income after taxes 115 103
Additions to retains earnings 115 103
The information below can be used to complete the direct
method of cash flow:
Cash flows from operating activities 2010
Cash receipts
Received from sales of goods 930
Paid for inventory 400
Paid for employees 110
Paid for interest 50
Paid for taxes 70
Paid for other expenses 320
Cash paid for equipment 100
Cash received for common stock 120

30. Cash received from note payable 30
Assignment Guidelines:
A. Indirect method cash flow/cash flow statement:
a. What is the operational cash flow?
b. What is the investing cash flow?
c. What is the financing cash flow?
B. Direct method cash flow:
a. What is the operational cash flow?
b. What is the investing cash flow?
c. What is the financing cash flow?
C. What are the differences in the cash flow concepts and
procedures between the direct and indirect methods?
Please submit your assignment.
Your assignment will be graded in accordance with the
following criteria. Click here to view the grading rubric.
For assistance with your assignment, please use your text, Web
resources, and all course materials.
Reading Assignment
Schroeder, Clark & Cathey: Chapters 5, 6, 7, 17
Assignment Objectives

31. Construct a thorough understanding of accounting standards and
principles
Execute the core accounting educational requirement to sit for
the CPA exam
Achieve abilities to practice in public and private accounting
positions
Advance to a higher professional level
Other Information
There is no additional information to display at this time.
Legend
Extra Credit View Assignment Rubric
Assignment Overview
Type: Individual Project
Unit: Financial Accounting and Reporting (FAR)
Due Date: Sun, 5/8/16
Grading Type: Numeric
Points Possible: 125
Points Earned: 0
Deliverable Length: 500-1,000 words
Go To:

32. Assignment Details
Learning Materials
Reading Assignment
My Work:
Online Deliverables: Submissions
12:14 AM (CDT)
Privacy Statement Terms and Conditions Contact Us
© 2015 American InterContinental University.
All Rights Reserved. Authorized Users Only.
Unit 2 - Individual Project
Assignment Details
Assignment Description
The SCQ Corporation manufactures specialty medical tools
ranging from $10,000 to$15,000 per unit. The tools are used in
hospitals, clinics, and the home hospitality
market. SCQ Corporation has contracted with YOUCPA to
assist in creating its cash flow statement. In the past, its income
statement and balance sheet have been
prepared by the internal accountant.

33. It would like you to assist in preparing the cash flows using bot
h the direct and indirect method. Sales and balance sheet inform
ation for the years 2009–2010 are below:
Balance Sheet
SCQ Corporation
For period ending 12/31/2010
Assets 2010 2009Liabilities 2010 2009
Cash 150 100
Account receivable 600 400Accounts payable 400 300
Inventory 750 500Accrued taxes payable 200 100
Current assets 1,500 1,000Current liabilities 600 400
Land 50 50
Equipment 1,300 1,200Note payable 330 300
Less: Acc. depreciation 700 600Deferred taxes 35 20
Net fixed assets 600 600Equity:
Total fixed assets 650 650Common stock 640 500
Paid-in capital 80 80
Retain earnings 465 350
Total equity 1,185 930

34. Total assets 2,150 1,650Total equity and liabilities 2,150 1,650
Income Statement
SCQ Corporation
For period ending 12/31/ 2010
Items 20102009
Revenue 1,000 900
Cost of goods sold 400 350
Gross profit 600 550
Wages expense 110 100
Interest expense 50 40
Depreciation expense 100 90
Insurance expense 50 50
Other misc. expenses 90 80
Total expenses 400 360
Operating income 200 190
Taxes:
Deferred taxes 15 20
Taxes expense 70 67

35. Net income after taxes 115 103
Additions to retains earnings 115 103
The information below can be used to complete the direct
method of cash flow:
Cash flows from operating activities 2010
Cash receipts
Received from sales of goods 930
Paid for inventory 400
Paid for employees 110
Paid for interest 50
Paid for taxes 70
Paid for other expenses 320
Cash paid for equipment 100
Cash received for common stock 120
Cash received from note payable 30
Assignment Guidelines:
A. Indirect method cash flow/cash flow statement:
a. What is the operational cash flow?
b. What is the investing cash flow?

36. c. What is the financing cash flow?
B. Direct method cash flow:
a. What is the operational cash flow?
b. What is the investing cash flow?
c. What is the financing cash flow?
C. What are the differences in the cash flow concepts and
procedures between the direct and indirect methods?
Please submit your assignment.
Your assignment will be graded in accordance with the
following criteria. Click here to view the grading rubric.
For assistance with your assignment, please use your text, Web
resources, and all course materials.
Reading Assignment
Schroeder, Clark & Cathey: Chapters 5, 6, 7, 17
Assignment Objectives
Construct a thorough understanding of accounting standards and
principles
Execute the core accounting educational requirement to sit for
the CPA exam
Achieve abilities to practice in public and private accounting
positions

37. Advance to a higher professional level
Other Information
There is no additional information to display at this time.
Legend
Extra Credit View Assignment Rubric
Assignment Details
Assignment Description
The SCQ Corporation manufactures specialty medical tools
ranging from $10,000 to$15,000 per unit. The tools are used in
hospitals, clinics, and the home hospitality
market. SCQ Corporation has contracted with YOUCPA to
assist in creating its cash flow statement. In the past, its income
statement and balance sheet have been
prepared by the internal accountant.
It would like you to assist in preparing the cash flows using bot
h the direct and indirect method. Sales and balance sheet inform
ation for the years 2009–2010 are below:
Balance Sheet
SCQ Corporation
For period ending 12/31/2010
Assets 2010 2009Liabilities 2010 2009

38. Cash 150 100
Account receivable 600 400Accounts payable 400 300
Inventory 750 500Accrued taxes payable 200 100
Current assets 1,500 1,000Current liabilities 600 400
Land 50 50
Equipment 1,300 1,200Note payable 330 300
Less: Acc. depreciation 700 600Deferred taxes 35 20
Net fixed assets 600 600Equity:
Total fixed assets 650 650Common stock 640 500
Paid-in capital 80 80
Retain earnings 465 350
Total equity 1,185 930
Total assets 2,150 1,650Total equity and liabilities 2,150 1,650
Income Statement
SCQ Corporation
For period ending 12/31/ 2010
Items 20102009
Revenue 1,000 900

39. Cost of goods sold 400 350
Gross profit 600 550
Wages expense 110 100
Interest expense 50 40
Depreciation expense 100 90
Insurance expense 50 50
Other misc. expenses 90 80
Total expenses 400 360
Operating income 200 190
Taxes:
Deferred taxes 15 20
Taxes expense 70 67
Net income after taxes 115 103
Additions to retains earnings 115 103
The information below can be used to complete the direct
method of cash flow:
Cash flows from operating activities 2010
Cash receipts
Received from sales of goods 930

40. Paid for inventory 400
Paid for employees 110
Paid for interest 50
Paid for taxes 70
Paid for other expenses 320
Cash paid for equipment 100
Cash received for common stock 120
Cash received from note payable 30
Assignment Guidelines:
A. Indirect method cash flow/cash flow statement:
a. What is the operational cash flow?
b. What is the investing cash flow?
c. What is the financing cash flow?
B. Direct method cash flow:
a. What is the operational cash flow?
b. What is the investing cash flow?
c. What is the financing cash flow?
C. What are the differences in the cash flow concepts and

41. procedures between the direct and indirect methods?
Please submit your assignment.
Your assignment will be graded in accordance with the
following criteria. Click here to view the grading rubric.
For assistance with your assignment, please use your text, Web
resources, and all course materials.
Reading Assignment
Schroeder, Clark & Cathey: Chapters 5, 6, 7, 17
Assignment Objectives
Construct a thorough understanding of accounting standards and
principles
Execute the core accounting educational requirement to sit for
the CPA exam
Achieve abilities to practice in public and private accounting
positions
Advance to a higher professional level
Other Information
There is no additional information to display at this time.
Legend
Extra Credit View Assignment Rubric
Assignment Overview

42. Type: Individual Project
Unit: Financial Accounting and Reporting (FAR)
Due Date: Sun, 5/8/16
Grading Type: Numeric
Points Possible: 125
Points Earned: 0
Deliverable Length: 500-1,000 words
Go To:
Assignment Details
Learning Materials
Reading Assignment
My Work:
Online Deliverables: Submissions