The following changes in account balances and other information for 2007 were taken from the accounting records
Question:
The following changes in account balances and other information for 2007 were taken from the accounting records of the Noble Company:
Other information: Net income was $9,900. Dividends were declared and paid. Land was sold for $1,700; a building was purchased for $23,000. No land was purchased and no buildings and equipment were sold. Bonds payable were issued at the end of the year. Two hundred shares of stock were issued for $15 per share. The beginning cash balance was $4,800.
Required
Using visual inspection, prepare a 2007 statement of cash flows for the NobleCompany.
Transcribed Image Text:
Net Changes for 2007 Debit Credit $2,000 Accounts receivable 1,900 2,400 1,700 Buildings and equipment Accumulated depreciation Accounts payable 23,000 4,500 1,600 Bonds payable Common stock, no par Retained earnings 5,000 3,000 5,300 $25,500 $25,500
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NOBLE COMPANY Statement of Cash Flows For Year Ended December 31 2007 Net Cash Flow From Operating A...View the full answer
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Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
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