Accountants for Crowne Plaza Products, Inc., have assembled the following data for the year ended December 31,
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Prepare Crowne Plaza Products' statement of cash flows using the indirect method to report operating activities. Include an accompanying schedule of noncash investing and financing activities.
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December 31, 20X4 20X3 Current Accounts: Current assets: Cash and cash equivalents Accounts receivable ...70,100 73,700 Inventories Prepaid expenses $29,100 $34,800 90,600 96,500 3,200 2,100 Current liabilities: Accounts payable Income tax payable.... Accrued liabilities. $71,600 $67,500 5,900 6,800 28,300 23,200 Transaction Data for 20X4: Payment of cash dividends Issua nce of long-term note $48,300 Stock dividends 12,600 Collection of loan.... 10,300 69,000 89,400 44,800 payable to borrow cas....7 71,000 Depreciation expense... 31,000 Purchase of equipment..69 Payment of note paya ble Net income Issua nce of preferred stock for cash 36,200 by issuing common stock Sale of long-term investment12,200 Purchase of long-term Amortization expense..1,100 Payment of long-term investment.... Acquisition of building by note payable..47,800 issuing long-term note payable Gain on sale of investment 3,500 201,000
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Statement of cash flow Amount Cash Flow from Operating Activity Net income 31000 Dep 29200 Di...View the full answer
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Related Book For
Financial Accounting
ISBN: 978-0135012840
7th edition
Authors: Walter T. Harrison, Charles T. Horngren
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