Question

To prepare a statement of cash flows for Golf Champion Store, you examined the company’s accounts, noting the following:
Purchased equipment, $20,000, and issued a promissory note in full payment. Purchased a long-term investment for cash, $15,000.
Paid cash dividend, $12,000.
Sold equipment for $6,000 cash (cost, $21,000, accumulated depreciation, $15,000).
Issued shares of no-par stock, 500 shares at $12 cash per share.
Net income was $20,200.
Depreciation expense was $3,000.
You also created the following spreadsheet to use when preparing the statement of cash flows.


Required:
1. Complete the spreadsheet.
2. Prepare the 2013 statement of cash flows using the indirectmethod.


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  • CreatedFebruary 27, 2015
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