Question

Shown below are the statements of comprehensive income, the comparative statements of financial positions, and additional information useful in preparing the 20X5 SCF for Sells Company.


Additional information:
a. Equipment costing $ 66,000 with a book value of $ 20,000 was sold at book value. New equipment was also purchased; common shares were issued in partial payment.
b. The bonds were repaid at maturity; $ 2,000 of bond discount was amortized in 20X5 prior to the maturity date.

Required:
Prepare the 20X5 SCF, indirect method, for Sells Company. Omit separate disclosure of cash paid for income tax and interest in the operating activities section. The solution to this assignment features an optionalspreadsheet


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  • CreatedFebruary 17, 2015
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