This problem continues the Daniels Consulting situation from Problem P13-47 of Chapter 13. Daniels Consultings comparative balance
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Additional data follow:
a. Depreciation expense for the year, $1,616.
b. Daniels Consulting had no disposal of plant assets during the year. Plant assets were acquired for cash.
c. Amortization of the discount on bonds payable for the year, $11,206.
d. Daniels Consulting issued a bonds payable with a face value of $900,000, receiving cash of $787,932.
e. Net income for the year was $190,537.
f. Cash receipts from issuance of common stock totaled $115,000. Prepare the statement of cash flows using the indirect method.
Face value is a financial term used to describe the nominal or dollar value of a security, as stated by its issuer. For stocks, the face value is the original cost of the stock, as listed on the certificate. For bonds, it is the amount paid to the...
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Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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