The comparative balance sheet of Juras Equipment Co. for December 31, 2013 and 2012, is as follows:

Question:

The comparative balance sheet of Juras Equipment Co. for December 31, 2013 and 2012, is as follows:


The comparative balance sheet of Juras Equipment Co. for Decembe


The following additional information was taken from the records of Juras Equipment:
a. Equipment and land were acquired for cash.
b. There were no disposals of equipment during the year.
c. The investments were sold for $129,600 cash.
d. The common stock was issued for cash.
e. There was a $228,960 credit to Retained Earnings for net income.
f. There was a $144,000 debit to Retained Earnings for cash dividends declared.
Instructions
Prepare a statement of cash flows, using the indirect method of presenting cash flows from operatingactivities.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Financial Accounting

ISBN: 978-1133952428

12th Edition

Authors: Warren, Reeve, Duchac

Question Posted: