Golden Corp., a merchandiser, recently completed its 2013 operations. For

Golden Corp., a merchandiser, recently completed its 2013 operations. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, (4) all debits to Accounts Payable reflect cash payments for inventory, (5) Other Expenses are all cash expenses, and (6) any change in Income Taxes Payable reflects the accrual and cash payment of taxes. The company’s balance sheets and income statement follow.


Golden Corp., a merchandiser, recently completed its 2013 operations. For


Additional Information on Year 2013 Transactions
a. Purchased equipment for $ 36,000 cash.
b. Issued 12,000 shares of common stock for $ 5 cash per share.
c. Declared and paid $ 89,000 in cash dividends.

Required
Prepare a complete statement of cash flows; report its cash inflows and cash outflows from operating activities according to the indirectmethod.

Common Stock
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...
Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive...