Condensed financial data of George Company follow. Additional information: 1. New plant assets costing $141,000 were purchased
Question:
Additional information:
1. New plant assets costing $141,000 were purchased for cash during the year.
2. Investments were sold at cost.
3. Plant assets costing $36,000 were sold for $15,000, resulting in a gain of $5,000.
4. A cash dividend of $75,000 was declared and paid during the year.
Instructions
Prepare a statement of cash flows using the indirectmethod.
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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Related Book For
Intermediate Accounting principles and analysis
ISBN: 978-0471737933
2nd Edition
Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso
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