The following is an extraction of comparative balance sheet of Caibrex Corporation as at December 31,...
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The following is an extraction of comparative balance sheet of Caibrex Corporation as at December 31, 2020 and 2019: December 31 Cash and cash equivalents... Accounts receivable . Inventories ... Accounts payable 2020 $ 320,000 87,300 127,000 40,500 2019 $ 200,000 156,000 83,500 68,100 ..... .... Additional information: (a) Net income for 2020 was $150,000. Depreciation expenses reported on income statement for the year ended 31 December 2020 was $12,000. (b) (d) New equipment purchased during the year 2020 was $84,000. (e) Bonds of $120,000 were retired at their face value. (f) Issuance of ordinary share during the year 2020 was $105,000. (6) Cash dividends declared and paid for 2020 was $18,600. An equipment that cost $195,000 with carrying value of $78,000 was sold for $63,000. (h) Prepare a statement of cash flows for Caibrex Corporation for the year ended 31 December 2020, using the indirect method. The following is an extraction of comparative balance sheet of Caibrex Corporation as at December 31, 2020 and 2019: December 31 Cash and cash equivalents... Accounts receivable . Inventories ... Accounts payable 2020 $ 320,000 87,300 127,000 40,500 2019 $ 200,000 156,000 83,500 68,100 ..... .... Additional information: (a) Net income for 2020 was $150,000. Depreciation expenses reported on income statement for the year ended 31 December 2020 was $12,000. (b) (d) New equipment purchased during the year 2020 was $84,000. (e) Bonds of $120,000 were retired at their face value. (f) Issuance of ordinary share during the year 2020 was $105,000. (6) Cash dividends declared and paid for 2020 was $18,600. An equipment that cost $195,000 with carrying value of $78,000 was sold for $63,000. (h) Prepare a statement of cash flows for Caibrex Corporation for the year ended 31 December 2020, using the indirect method.
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Cash flow statement of Caibrex Corporation as of 31 December 2020 Particulars Amount Amount I cash f... View the full answer
Related Book For
Financial and Managerial Accounting
ISBN: 978-0538480895
11th Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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