Prepare the 2020 cash flow statement for Buragina Inc. using the indirect method to report cash flows
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Prepare the 2020 cash flow statement for Buragina Inc. using the indirect method to report cash flows from operating activities.
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Transaction data for 2020 Amortization expense $ 40,000 Payment of cash dividends. . $72,000 Issuance of long-term note payable to borrow cash. Net income.. 104,000 28,000 Purchase of long-term investment. Issuance of long-term note payable to purchase patent.. 148,000 Issuance of common 32,000 shares for cash.. 76,000 Cash received from sale of building. 296,000 Issuance of common shares to retire $52,000 of bonds . Repurchase of own shares . Loss on sale of building... Purchase of equipment.. 20,000 52,000 8,000 392,000
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Related Book For
Horngrens Accounting
ISBN: 9780135359785
11th Canadian Edition Volume 2
Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo Ann Johnston, Peter R. Norwood
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In order to determine the amount of cash created by operating operations, the indirect technique for preparing the statement of cash flows entails adjusting net income with changes in balance sheet.
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