Here are comparative balance sheets for Velo Company. Additional information: 1. Net income for 2017 was $93,000.
Question:
Here are comparative balance sheets for Velo Company.
Additional information:
1. Net income for 2017 was $93,000.
2. Cash dividends of $35,000 were declared and paid.
3. Bonds payable amounting to $50,000 were redeemed for cash $50,000.
4. Common stock was issued for $42,000 cash.
5. No equipment was sold during 2017, but land was sold at cost.
Instructions
Prepare a statement of cash flows for 2017 using the indirect method.
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Related Book For
Accounting Principles
ISBN: 978-1118875056
12th edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
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