Additional Data: 1. Net income for the year amounted to $104,000. 2. Cash dividends were paid amounting
Question:
Additional Data:
1. Net income for the year amounted to $104,000.
2. Cash dividends were paid amounting to 4% of par value.
3. Land was sold for $120,000.
4. Sharp sold equipment, which cost $225,000 and had accumulated depreciation of $90,000, for $105,000.
Sharp Company
Comparative Balance Sheet
31-Dec
Instructions
Prepare a statement of cash flows using the indirectmethod
Transcribed Image Text:
2011 S64,000 53,000 171,000 180,000 300,000 (75,000) 1,545,000 (177000 $2.061,000 S 172,000 2010 S 36.000 57.000 123,000 285,000 300,000 (60,000) 900,000 Cash Accounts receivable, net Inventory an Building Accumulated depreciation Equipment Accumulated depreciation (141.000 1500,000 150,000 Accounts payable Bonds payable Capital stock, S10 par Retained earnings 480,000 1,125,000 1,125,000 225,000 1.500,000 284,000 2.061.000
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Computation of the Cash flow using indirect method Sharp Company STATEMENT OF CASH FLOW AS OF Dec...View the full answer
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Related Book For
Fundamental Accounting Principles Volume II
ISBN: 978-1259066511
14th Canadian Edition
Authors: Larson Kermit, Jensen Tilly
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