Stellar Software Corp. has assembled the following data for the years ending December 31, 2012 and 2011.
Question:
Requirement
1. Prepare Stellar Software Corp.s statement of cash flows using the indirect method to report operating activities. Include an accompanying schedule of non-cash investing and financingactivities.
Transcribed Image Text:
ecember 20122011 Current Accounts: Current assets: Cash and cash equivalents Accounts receivable Inventories Prepaid expenses $85,500 $43,000 42,30064,600 34,600 79000 2,100 3,200 Current liabilities: Accounts payable Income tax payable Accrued liabilities $9,100 $55,700 16,300 15,300 7800 28,600 Transaction Data for 2012: Acquisition of land by issuing Purchase of treasury stock long-term note payabl$204,000 Loss on sale of equipment. Stock dividends $14,500 4,000 18,100 31,600 Payment of cash dividends Collection of loan10,000 Issuance of long-term note Depreciation expens Purchase of building 25,000 105,000 payable to borrow cash... 34,800 57,000 Net income Issuance of common stock aa Retirement of bonds payable by issuing common stock.. 75,000 Purchase of long-term for cash.. Proceeds from sale of 39,000 45,400 equipment Amortization expense... 12,700 4,200 investment
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Related Book For
Financial accounting
ISBN: 978-0132751124
9th edition
Authors: Walter T. Harrison Jr., Charles T. Horngren, C. William Thom
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