Giovani Furniture Corporation accountants assembled the following data for the year ended December 31, 2016: Transaction Data
Question:
Giovani Furniture Corporation accountants assembled the following data for the year ended December 31, 2016:
Transaction Data for 2016:
"Net Income ………………………………………………………….…….. $ 57,400
Purchase of treasury stock ……………………………..…………………….. 14,500
Issuance of common stock for cash …………………..……………………… 36,400
Loss on sale of equipment …………………………..……………………..… 12,000
Payment of cash dividends ………………………...………………………… 18,300
Depreciation Expense ………………………….…………………………… 21,200
Issuance of long-term note payable in exchange for cash .....…………………. 34,000
Purchase of building for cash …………………………..…………………... 164,000
Retirement of bonds payable by issuing common stock …....………………… 62,000
Sale of equipment for cash ……………………………..……………………. 58,000"
Requirement
Prepare Giovani Furniture Corporation’s statement of cash flows using the indirect method to report operating activities. List noncash investing and financing activities on an accompanying schedule?
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...
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