Here are comparative statements of financial position for Taguchi Company. Additional information: 1. Net income for 2011
Question:
Additional information:
1. Net income for 2011 was $103,000.
2. Cash dividends of $45,000 were declared and paid.
3. Bonds payable amounting to $50,000 were redeemed for cash $50,000.
4. Ordinary shares were issued for $42,000 cash.
5. No equipment was sold during 2011, but land was sold at cost.
Instructions
Prepare a statement of cash flows for 2011 using the indirectmethod.
Transcribed Image Text:
TAGUCHI COMPANY Comparative Statements of Financial Position December 31 2011 75.000 260.000 (66.000) 70,000 85.000 73.000 $597.000 2010 Assets Land Equipment Accumulated depreciation Inventories Accounts receivable Cash $100.000 200,000 (32.000) 189.000 76,000 22.000 555,000 Total Equity and Liabilities Share capital-ordinary (SI par) Retained earnings Bonds payable Accounts $216.000 92.000 150.000 39.000 $597.000 $174.000 134.000 200.000 47,000 $555.000 payable Total
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Related Book For
Financial accounting
ISBN: 978-1118285909
IFRS Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
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