The following information is available for Stamos Corporation for the year ended December 31, 2020. Beginning cash

Question:

The following information is available for Stamos Corporation for the year ended December 31, 2020.
Beginning cash balance .....................................$ 45,000
Accounts payable decrease ...................................3,700
Depreciation expense ........................................162,000
Accounts receivable increase ................................8,200
Inventory increase ................................................11,000
Net income ..........................................................284,100
Cash received for sale of land at book value .....35,000
Cash dividends paid ..............................................12,000
Income taxes payable increase .............................4,700
Cash used to purchase building .......................289,000
Cash used to purchase treasury stock ..............26,000
Cash received from issuing bonds ..................200,000


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

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Accounting Principles

ISBN: 978-1119411482

13th edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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