Nector Enterprises Limited's December 31, 2023 year-end presented the following information: 2023 26.900 27,700 149,900 88.700...
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Nector Enterprises Limited's December 31, 2023 year-end presented the following information: 2023 26.900 27,700 149,900 88.700 2022 58,100 24,000 130,900 92,500 188,900 26,400 Cash Accounts receivable Merchandise inventory Long-term investments Equipment Accumulated depreciation, equipment 329,600 124,500 $ 498.300 S 468,000 Accounts payable Income taxes payable Bonds payable Common shares Retained earnings 15,800 27,600 54,900 159,000 8,200 23,600 63,400 130,200 241,000 242.600 498,300 468,000 Sales (all on credit) Cost of goods sold Depreciation expense Other operating expenses Interest expense Loss on sale of equipment $ 417,500 194,000 120,700 53,000 10,900 4,300 382,900 34,600 Net income Additional information: 1) There was no gain or loss on the long-term investments sold or the bonds retired. 2) New equipment was purchased for $175,400. 3) Paid dividends of during the year. 4) Additional shares were issued during the year. 5) Old equipment with an original cost of $34,700 was sold for $7.800. REQUIRED: Prepare a statement of cash flows for the year ended December 31, 2023 using the indirect method. (16 marks) Nector Enterprises Limited's December 31, 2023 year-end presented the following information: 2023 26.900 27,700 149,900 88.700 2022 58,100 24,000 130,900 92,500 188,900 26,400 Cash Accounts receivable Merchandise inventory Long-term investments Equipment Accumulated depreciation, equipment 329,600 124,500 $ 498.300 S 468,000 Accounts payable Income taxes payable Bonds payable Common shares Retained earnings 15,800 27,600 54,900 159,000 8,200 23,600 63,400 130,200 241,000 242.600 498,300 468,000 Sales (all on credit) Cost of goods sold Depreciation expense Other operating expenses Interest expense Loss on sale of equipment $ 417,500 194,000 120,700 53,000 10,900 4,300 382,900 34,600 Net income Additional information: 1) There was no gain or loss on the long-term investments sold or the bonds retired. 2) New equipment was purchased for $175,400. 3) Paid dividends of during the year. 4) Additional shares were issued during the year. 5) Old equipment with an original cost of $34,700 was sold for $7.800. REQUIRED: Prepare a statement of cash flows for the year ended December 31, 2023 using the indirect method. (16 marks)
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Nector Enterprises Limited Statement of Cash flow For the year ended December 31 2023 Cash flow from ... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-1118147290
15th edition
Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield
Posted Date:
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