Question

The following changes in account balances were taken from Walson Company’s adjusted trial balance at the end of 2016:
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.)


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  • CreatedOctober 05, 2015
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