Thompson Corporation has the following activities for the past year: (Click the icon to view the...

 
 

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Thompson Corporation has the following activities for the past year: (Click the icon to view the data.) Requirement Prepare the operating activities section of Thompson Corporation's statement of cash flows for the year ended December 31, using the indirect method for operating cash flows. (Use parentheses or a minus sign for numbers to be subtracted.) Statement of Cash Flows-Operating Activities Section (Indirect Method) For the Year Ended December 31 Operating Activities: Thompson Corporation Adjustments to reconcile net income to cash basis Ch Net cash provided by (used for) operating activities Data Table Net income Payment of dividends.. $8,000 Proceeds from issuance of stock $ 79,000 Purchase of treasury stock Sales revenue Payment of long-term note payable .$? Decrease in current liabilities $ 16,000 Cost of goods sold Other operating expenses $ 6,000 $13,000 Depreciation expense .. $22,000 Purchase of equipment with cash Proceeds from sale of $118,000 land Increase in current $ 11,000 assets $53,000 $28,000 $23,000 other than cash...... $7,000 he next question. ▶ Thompson Corporation has the following activities for the past year: (Click the icon to view the data.) Requirement Prepare the operating activities section of Thompson Corporation's statement of cash flows for the year ended December 31, using the indirect method for operating cash flows. (Use parentheses or a minus sign for numbers to be subtracted.) Statement of Cash Flows-Operating Activities Section (Indirect Method) For the Year Ended December 31 Operating Activities: Thompson Corporation Adjustments to reconcile net income to cash basis Ch Net cash provided by (used for) operating activities Data Table Net income Payment of dividends.. $8,000 Proceeds from issuance of stock $ 79,000 Purchase of treasury stock Sales revenue Payment of long-term note payable .$? Decrease in current liabilities $ 16,000 Cost of goods sold Other operating expenses $ 6,000 $13,000 Depreciation expense .. $22,000 Purchase of equipment with cash Proceeds from sale of $118,000 land Increase in current $ 11,000 assets $53,000 $28,000 $23,000 other than cash...... $7,000 he next question. ▶ Thompson Corporation has the following activities for the past year: (Click the icon to view the data.) Requirement Prepare the operating activities section of Thompson Corporation's statement of cash flows for the year ended December 31, using the indirect method for operating cash flows. (Use parentheses or a minus sign for numbers to be subtracted.) Statement of Cash Flows-Operating Activities Section (Indirect Method) For the Year Ended December 31 Operating Activities: Thompson Corporation Adjustments to reconcile net income to cash basis Ch Net cash provided by (used for) operating activities Data Table Net income Payment of dividends.. $8,000 Proceeds from issuance of stock $ 79,000 Purchase of treasury stock Sales revenue Payment of long-term note payable .$? Decrease in current liabilities $ 16,000 Cost of goods sold Other operating expenses $ 6,000 $13,000 Depreciation expense .. $22,000 Purchase of equipment with cash Proceeds from sale of $118,000 land Increase in current $ 11,000 assets $53,000 $28,000 $23,000 other than cash...... $7,000 he next question. ▶ Thompson Corporation has the following activities for the past year: (Click the icon to view the data.) Requirement Prepare the operating activities section of Thompson Corporation's statement of cash flows for the year ended December 31, using the indirect method for operating cash flows. (Use parentheses or a minus sign for numbers to be subtracted.) Statement of Cash Flows-Operating Activities Section (Indirect Method) For the Year Ended December 31 Operating Activities: Thompson Corporation Adjustments to reconcile net income to cash basis Ch Net cash provided by (used for) operating activities Data Table Net income Payment of dividends.. $8,000 Proceeds from issuance of stock $ 79,000 Purchase of treasury stock Sales revenue Payment of long-term note payable .$? Decrease in current liabilities $ 16,000 Cost of goods sold Other operating expenses $ 6,000 $13,000 Depreciation expense .. $22,000 Purchase of equipment with cash Proceeds from sale of $118,000 land Increase in current $ 11,000 assets $53,000 $28,000 $23,000 other than cash...... $7,000 he next question. ▶ Thompson Corporation has the following activities for the past year: (Click the icon to view the data.) Requirement Prepare the operating activities section of Thompson Corporation's statement of cash flows for the year ended December 31, using the indirect method for operating cash flows. (Use parentheses or a minus sign for numbers to be subtracted.) Statement of Cash Flows-Operating Activities Section (Indirect Method) For the Year Ended December 31 Operating Activities: Thompson Corporation Adjustments to reconcile net income to cash basis Ch Net cash provided by (used for) operating activities Data Table Net income Payment of dividends.. $8,000 Proceeds from issuance of stock $ 79,000 Purchase of treasury stock Sales revenue Payment of long-term note payable .$? Decrease in current liabilities $ 16,000 Cost of goods sold Other operating expenses $ 6,000 $13,000 Depreciation expense .. $22,000 Purchase of equipment with cash Proceeds from sale of $118,000 land Increase in current $ 11,000 assets $53,000 $28,000 $23,000 other than cash...... $7,000 he next question. ▶ Thompson Corporation has the following activities for the past year: (Click the icon to view the data.) Requirement Prepare the operating activities section of Thompson Corporation's statement of cash flows for the year ended December 31, using the indirect method for operating cash flows. (Use parentheses or a minus sign for numbers to be subtracted.) Statement of Cash Flows-Operating Activities Section (Indirect Method) For the Year Ended December 31 Operating Activities: Thompson Corporation Adjustments to reconcile net income to cash basis Ch Net cash provided by (used for) operating activities Data Table Net income Payment of dividends.. $8,000 Proceeds from issuance of stock $ 79,000 Purchase of treasury stock Sales revenue Payment of long-term note payable .$? Decrease in current liabilities $ 16,000 Cost of goods sold Other operating expenses $ 6,000 $13,000 Depreciation expense .. $22,000 Purchase of equipment with cash Proceeds from sale of $118,000 land Increase in current $ 11,000 assets $53,000 $28,000 $23,000 other than cash...... $7,000 he next question. ▶

Answer rating: 100% (QA)

Answer Solution Thompson Corporation Statement of Cash Flows ... View the full answer