The following is a comparison report on the financial position of the Scarf Company. Additional information:1. Net
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Question:
The following is a comparison report on the financial position of the Scarf Company.
Additional information:1. Net income for 2014 is $ 103,000.
2. Depreciation expense is $ 32,000.
3. A cash dividend of $ 45,000 is declared and paid.
4. The $ 50,000 bond payable has been redeemed for $ 50,000 in cash.
5. Common stock was issued for $ 42,000 in cash.
6. No equipment was sold during 2014.
7. The land sold for a book value of $ 27,000.
Instruction:
Prepare a 2014 cash flow statement using the indirect method.
Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
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