The following information is available for Stamos Corporation for the year ended December 31, 2019. Beginning cash

Question:

The following information is available for Stamos Corporation for the year ended December 31, 2019.
Beginning cash balance..................................$ 45,000
Accounts payable decrease.................................3,700
Depreciation expense.....................................162,000
Accounts receivable increase...............................8,200
Inventory increase..........................................11,000
Net income.................................................284,100
Cash received for sale of land at book value............35,000
Cash dividends paid.......................................12,000
Income taxes payable increase..............................4,700
Cash used to purchase building.........................289,000
Cash used to purchase treasury stock....................26,000
Cash received from issuing bonds......................200,000
Instructions
Prepare a statement of cash flows using the indirect method.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Related Book For  book-img-for-question

Financial Accounting

ISBN: 978-1119305736

10th edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel

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