Question

Prepare statement of cash flows using the indirect method. The income statement for 2014 and the balance sheets for 2014 and 2013 are presented for Hoover Industries, Inc.




Additional information follows:
a. Sold plant asset for $ 4,500. The original cost of this plant asset was $ 10,400 and it had $ 8,900 of accumulated depreciation associated with it.
b. Paid $ 5,000 on the bonds payable; issued $ 41,000 of new bonds payable.
c. Declared and paid cash dividends of $ 18,700.
d. Purchased new investment for $ 10,000.
e. Purchased new equipment for $ 30,400.

Requirement
Prepare a statement of cash flows for Hoover Industries, Inc., for the year ended December 31, 2014, using the indirectmethod.


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  • CreatedAugust 27, 2014
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