The following changes in account balances were taken from Walson Companys adjusted trial balance at the end
Question:
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In addition, the following information was obtained from the company€™s records:
€¢ Land was sold, at cost, for $ 1,900.
€¢ Dividends of $4,000 were declared and paid.
€¢ Equipment was purchased for $10,400.
€¢ Common stock was issued for $9,000.
€¢ Beginning cash balance w-as $ 17,000.
Required:
Using visual inspection and the direct method, prepare Walson€™s 2016 statement of cash flows. (A separate schedule reconciling net income to cash provided by operating activities is not necessary.)
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...
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WALSON COMPANY Statement of Cash Flows For Year Ended December 31 2016 Operating Activities Cash inf...View the full answer
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Related Book For 
Intermediate Accounting Reporting and Analysis
ISBN: 978-1285453828
2nd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
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