DeWitt Software Corp. has assembled the following data for the years ending December 31, 2014 and 2013.
Question:
Requirement
1. Prepare DeWitt Software Corp.s statement of cash flows using the indirect method to report operating activities. Include an accompanying schedule of noncash investing and financing activities.
Transcribed Image Text:
December 31, 2014 1 2013 3 Current Accounts: Current assets: 5 Cash and cash equivalents 6 Accounts receivable 7 Inventories 8 Prepaid expenses 9 Current liabilities: 10 Accounts payable 11 Income tax payable 12 Accrued liabilities 13 96,400 38,600 64,600 67,000 2,100 51,300 34,600 $27,100 18,600 15,300 55,700 0 16,300 7,800 Transaction Data for 2014: Acquisition of land by issuing Purchase of treasury stock....510,200 4,000 18,100 long-term note payable . $163,000 31,600 25,000 13,000 Loss on sale of equipment... Payment of cash dividends..1 Collection of loan.... Issuance of long-term note Depreciation expens Purchase of building payable to borrow cash..34,800 .. 64,000 with c 95,000 Issuance of common stock Retirement of bonds payable for cash 35,000 by issuing common stock. 75,000 Procceds from sale of 12,700 4,200 Purchase of long-term 37,400
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Related Book For
Financial Accounting
ISBN: 978-0133427530
10th edition
Authors: Walter Harrison, Charles Horngren, William Thomas
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