The comparative balance sheets of Duong Inc. at the beginning and the end of the year 2014
Question:
Net income of $88,000 was reported, and dividends of $46,000 were paid in 2014. New equipment was purchased and none was sold.
Instructions
Prepare a statement of cash flows for the year2014.
Transcribed Image Text:
DUONG INC BALANCE SHEETS Assets Cash Accounts receivable Equipment Less: Accumulated depreciation Dec. 31, 2014 $90,000 182,000 78,000 Jan. 1, 2014 Inc./Dec. 26,000 $64,000 Inc. 176,000 44,000 (22,000) 12,000 Inc 6,000 Inc. 34,000 Inc. (34,000( Total $316,000 $224,000 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings $ 40,000 200,000 76,000 $316,000 $ 30,000 160,000 34,000 $224,000 $10,000 Inc. 40,000 Inc. 42,000 Inc. Total
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Related Book For
Intermediate Accounting
ISBN: 978-1118147290
15th edition
Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield
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