Use the following information about the 2018 cash flows of Mason Corporation to prepare a statement of
Question:
Use the following information about the 2018 cash flows of Mason Corporation to prepare a statement of cash flows under the direct method. Refer to Exhibit 4.3 for the appropriate format.
Cash balance, end of 2018 ....................................................... $ 12,000
Cash paid to employees and suppliers ................................... 148,000
Cash received from sale of land ............................................... 40,000
Cash paid to acquire treasury stock ........................................ 10,000
Cash balance, beginning of 2018 ............................................... 16,000
Cash received as interest ............................................................. 6,000
Cash paid as income taxes ........................................................... 11,000
Cash paid to purchase equipment ............................................... 89,000
Cash received from customers ...................................................... 194,000
Cash received from issuing bonds payable .................................. 30,000
Cash paid as dividends ..................................................................... 16,000
Step by Step Answer:
Financial Accounting
ISBN: 9781618533111
6th Edition
Authors: Michelle L. Hanlon, Robert P. Magee, Glenn M. Pfeiffer, Thomas R. Dyckman