Question

Morgensen Corporation accountants assembled the following data for the year ended December 31, 2014:
Transaction Data for 2014:
Net Income ...................... $ 57,800
Purchase of treasury shares ................ 14,500
Issuance of common shares for cash ............ 36,200
Loss on sale of equipment ................ 11,000
Payment of cash dividends ................ 18,100
Depreciation Expense ................... 21,900
Issuance of long-term note payable in exchange for cash .... 34,500
Purchase of building for cash ................ 122,000
Retirement of bonds payable by issuing common shares ... 62,000
Sale of equipment for cash ................ 57,000
Requirement
Prepare Morgensen Corporation’s cash flow statement using the indirect method to report operating activities. List noncash investing and financing activities on an accompanying schedule.


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  • CreatedJuly 08, 2015
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