Question: its the same question Additional data obtained from an examination of the accounts in the ledger for 20r9 are as follows: a. Equipment and land

Additional data obtained from an examination of the accounts in the ledger for 20r9 are as follows: a. Equipment and land were acquired for cash. b. There were no disposals of equipment during the year. c. The investments were sold for $110,310 cash. d. The common stock was issued for cash. e. There was a $62,690 credit to Retained Earnings for net income. f. There was a $37,870 debit to Retained Earnings for cash dividends declared. Required: Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Use the minus sign to indicate cash outflows, cash payments, decreases in cash. or anv neoative adiustments. Statement of Cash Flows-Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows: a. Equipment and land were acquired for cash. b. There were no disposals of equipment during the year. c. The investments were sold for $110,310 cash. d. The common stock was issued for cash. e. There was a $62,690 credit to Retained Earnings for net income. f. There was a $37,870 debit to Retained Earnings for cash dividends declared. Required: Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
