The following changes in account balances were taken from Walson Companys adjusted trial balance at the end

Question:

The following changes in account balances were taken from Walson Company’s adjusted trial balance at the end of 2019:

Net Changes for 2019 Debit Credit $ 2,100 8,700 Cash Accounts Receivable $ 2,500 1,900 Inventory Land Buildings and Equi

In addition, the following information was obtained from the company’s records:
• Land was sold, at cost, for $1,900.
• Dividends of $4,000 were declared and paid.
• Equipment was purchased for $10,400.
• Common stock was issued for $9,000.
• Beginning cash balance was $17,000.


Required:
Using visual inspection and the direct method, prepare Walson’s 2019 statement of cash flows. (A separate schedule reconciling net income to cash provided by operating activities is not necessary.)

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Intermediate Accounting Reporting and Analysis

ISBN: 978-1337788281

3rd edition

Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach

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