The comparative balance sheet for EProducts, Inc., as of December 31, 2019 and 2018, is shown below,
Question:
INSTRUCTIONS
Prepare a statement of cash flows for 2019. Other financial data for the year follow:
a. Sold used equipment for $32,000 in cash that originally cost $37,000; accumulated depreciation was $8,000. The remainder of the change in Equipment represents equipment purchased for cash.
b. Issued short-term notes payable with a par value of $50,000. Retired bonds payable at maturity.
c. Paid cash dividends of $20,000.
d. Issued common stock at par value for cash.
Analyze: Was the amount of net cash provided by operating activities sufficient to cover the cash that the company required for financing activities? Explain.
Par ValuePar value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
College Accounting Chapters 1-30
ISBN: 978-1259631115
15th edition
Authors: John Price, M. David Haddock, Michael Farina
Question Posted: