The following are comparative balance sheets for Concord Company. Assets Cash Accounts receivable Inventory Land Concord...
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The following are comparative balance sheets for Concord Company. Assets Cash Accounts receivable Inventory Land Concord Company Comparative Balance Sheets December 31 Equipment Accumulated depreciation-equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total 2022 $73,500 86,200 170,100 74,000 260,700 (65.600) $598,900 $ 35,100 150,200 215,100 198,500 $598,900 2021 $32,600 70,600 186,500 100,400 200,700 (33,500) $557,300 $46,900 203,900 175,800 130,700 $557,300 Prepare a statement of cash flows for 2022 using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g. -15,000, or in parenthesis e.g. (15,000).) Cash Flows from Operating Activities Net Income Concord Company Statement of Cash Flows For the Year Ended December 31, 2022 Adjustments to reconcile net income to Net Increase in Cash $ 32,100 15,600 16.400 11.800 $ 102,300 21100 123400 Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total Additional information: 1. 2. 3. 4. 5. 6. 7. $35,100 150,200 215,100 198,500 $598,900 $46,900 203,900 175,800 130,700 $557,300 Net income for 2022 was $102,300. Depreciation expense was $32,100. Cash dividends of $34,500 were declared and paid. Bonds payable amounting to $53,700 were redeemed for cash $53.700. Common stock was issued for $39,300 cash, No equipment was sold during 2022. Land was sold for its book value. Prepare a statement of cash flows for 2022 using the indirect method. (Show amounts that decrease cash flow with either a sign e.g. -15,000, or in parenthesis e.g. (15,000).) 11,800 21100 123400 The following are comparative balance sheets for Concord Company. Assets Cash Accounts receivable Inventory Land Concord Company Comparative Balance Sheets December 31 Equipment Accumulated depreciation-equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total 2022 $73,500 86,200 170,100 74,000 260,700 (65.600) $598,900 $ 35,100 150,200 215,100 198,500 $598,900 2021 $32,600 70,600 186,500 100,400 200,700 (33,500) $557,300 $46,900 203,900 175,800 130,700 $557,300 Prepare a statement of cash flows for 2022 using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g. -15,000, or in parenthesis e.g. (15,000).) Cash Flows from Operating Activities Net Income Concord Company Statement of Cash Flows For the Year Ended December 31, 2022 Adjustments to reconcile net income to Net Increase in Cash $ 32,100 15,600 16.400 11.800 $ 102,300 21100 123400 Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total Additional information: 1. 2. 3. 4. 5. 6. 7. $35,100 150,200 215,100 198,500 $598,900 $46,900 203,900 175,800 130,700 $557,300 Net income for 2022 was $102,300. Depreciation expense was $32,100. Cash dividends of $34,500 were declared and paid. Bonds payable amounting to $53,700 were redeemed for cash $53.700. Common stock was issued for $39,300 cash, No equipment was sold during 2022. Land was sold for its book value. Prepare a statement of cash flows for 2022 using the indirect method. (Show amounts that decrease cash flow with either a sign e.g. -15,000, or in parenthesis e.g. (15,000).) 11,800 21100 123400
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Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-0470239803
5th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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