Here are comparative balance sheets for Syal Company. Additional information:1. Net income for 2012 was $103,000.2. Cash
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Here are comparative balance sheets for Syal Company.
Additional information:1. Net income for 2012 was $103,000.2. Cash dividends of $45,000 were declared and paid.3. Bonds payable amounting to $50,000 were redeemed for cash $50,000.4. Common stock was issued for $42,000 cash.5. No equipment was sold during 2012, but land was sold at cost.InstructionsPrepare a statement of cash flows for 2012 using the indirectmethod.
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SYAL COMPANY Comparative Balance Sheets December 31 2012 Assets 2011 S 73.000 S 22,000 Cash Accounts receivable 85,000 76,000 Inventory 170,000 189,000 Land 75,000 100,000 260,000 (66,000) Equipment Accumulated depreciation-equipment 200,000 (32,000) $597,000 Total $555,000 Liabilities and Stockholders' Equity $ 47,000 $ 39,000 Accounts payable Bonds payable Common stock (S1 par) Retained earnings 150,000 200,000 216,000 174,000 192,000 134,000 $597.000 Total $555,000
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Accounting Principles
ISBN: 978-0470534793
10th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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