Prepare Aces Companys complete Statement of Cash Flows for the current year. Use the direct method for
Question:
Prepare Ace’s Company’s complete Statement of Cash Flows for the current year. Use the direct method for the operating activities section. Make sure you use the proper format for the entire statement, including the statement heading. Also include appropriate disclosures ( show T-ACCOUNT )
Additional information:
Ace sold equipment with an original cost of $440 and accumulated depreciation of $290 for $120 cash.
Ace issued 100 shares of common stock for $700 cash.
Ace purchased treasury stock during the year and did not reissue any treasury shares.
Ace purchased $915 equipment for cash.
Ace issued a non-cash loan for $400 on 12/31/13 to purchase machinery for use in its plant.
Ace issued bonds for $250 cash.
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078111044
16th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello