Here are comparative balance sheets for Syal Company. Additional information: 1. Net income for 2012 was $103,000.

Question:

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.
Instructions
Prepare a statement of cash flows for 2012 using the indirect method.

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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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