Condensed financial data of Turner Inc. follow. Additional information: 1. New plant assets costing $90,000 were purchased

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Condensed financial data of Turner Inc. follow.


Condensed financial data of Turner Inc. follow.  .:. Additional


Additional information:
1. New plant assets costing $90,000 were purchased for cash during the year.
2. Old plant assets having an original cost of $30,000 were sold for $2,000 cash.
3. Bonds matured and were paid off at face value for cash.
4. A cash dividend of $40,000 was declared and paid during the year.
Instructions
Prepare a statement of cash flows using the indirectmethod.

Dividend
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...
Face Value
Face value is a financial term used to describe the nominal or dollar value of a security, as stated by its issuer. For stocks, the face value is the original cost of the stock, as listed on the certificate. For bonds, it is the amount paid to the...
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Accounting Tools for Business Decision Making

ISBN: 978-1118128169

5th edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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