Question

Data for Cheng Inc. are presented in P13-9A. Further analysis reveals that accounts payable pertain to merchandise creditors.
In P13-9A, Condensed financial data of Cheng Inc. follow.


Additional information:
1. New equipment costing $85,000 was purchased for cash during the year.
2. Old equipment having an original cost of $57,500 was sold for $1,500 cash.
3. Bonds matured and were paid off at face value for cash.
4. A cash dividend of $40,350 was declared and paid during the year.

Instructions
Prepare a statement of cash flows for Cheng Inc. using the directmethod.


$1.99
Sales12
Views276
Comments0
  • CreatedFebruary 17, 2014
  • Files Included
Post your question
5000