Here are comparative balance sheets for Coronado Company. Assets Cash Accounts receivable Inventories Land Equipment Accumulated depreciation Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total Additional information: 1 CORONADO COMPANY Comparative Balance Sheets December 31 2 3. 5. 2022 $67,160 Net income for 2022 was $92,000. 80,040 156,400 66,240 239,200 (50,720) $548,320 $34,040 138,000 198,720 177,560 $548,320 2021 $20,240 69,920 175,720 92,000 184,000 (29,440) $512,440 $43,240 193,200 160,080 115,920 $512,440 Cash dividends of $30,350 were declared and paid. Bonds payable amounting to $55,200 were redeemed for cash $55,200. Common stock was issued for $38,640 cash. Equipment that cost $46,000 and had a book value of $27,600 was sold for $33,120 during 2022; land was sold at cost.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Prepare a statement of cash flows for 2022 using the indirect method. (Show the amounts that decrease cash flow either a - sign e.g. 15,000 or in parenthesis e.g. (15,000).)

 

Prepare a statement of cash flows for 2022 using the Indirect method. (Show amounts that decrease cash flow with either a-signeg-15,000 or in parenthesis eg (15.000))
Adjustments to reconcile net income to
CORONADO COMPANY
Statement of Cash Flows
V
V
इ
Transcribed Image Text:Prepare a statement of cash flows for 2022 using the Indirect method. (Show amounts that decrease cash flow with either a-signeg-15,000 or in parenthesis eg (15.000)) Adjustments to reconcile net income to CORONADO COMPANY Statement of Cash Flows V V इ
Here are comparative balance sheets for Coronado Company
Assets
Cash
Accounts receivable
Inventories
Land
Equipment
Accumulated depreciation
Total
Liabilities and Stockholders' Equity
Accounts payable
Bonds payable
Common stock ($1 par)
Retained earnings
Total
Additional information:
1.
2.
CORONADO COMPANY
Comparative Balance Sheets
December 31
3.
4.
5.
2022
$67,160
80,040
156,400
66,240
239,200
(60,720)
$548,320
$34,040
138,000
198,720
177,560
$548,320
2021
$20,240
69,920
175,720
92,000
184,000
(29,440)
$512,440
$43,240
193,200
160,000
115,920
$512,440
Net income for 2022 was $92,000.
Cash dividends of $30,360 were declared and paid.
Bonds payable amounting to $55,200 were redeemed for cash $55,200.
Common stock was issued for $38,640 cash.
Equipment that cost $46,000 and had a book value of $27,600 was sold for $33,120 during 2022; land was sold at cost.
Transcribed Image Text:Here are comparative balance sheets for Coronado Company Assets Cash Accounts receivable Inventories Land Equipment Accumulated depreciation Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total Additional information: 1. 2. CORONADO COMPANY Comparative Balance Sheets December 31 3. 4. 5. 2022 $67,160 80,040 156,400 66,240 239,200 (60,720) $548,320 $34,040 138,000 198,720 177,560 $548,320 2021 $20,240 69,920 175,720 92,000 184,000 (29,440) $512,440 $43,240 193,200 160,000 115,920 $512,440 Net income for 2022 was $92,000. Cash dividends of $30,360 were declared and paid. Bonds payable amounting to $55,200 were redeemed for cash $55,200. Common stock was issued for $38,640 cash. Equipment that cost $46,000 and had a book value of $27,600 was sold for $33,120 during 2022; land was sold at cost.
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All of the amounts that have parentheses are incorrect. What do I need to do to calculate the amounts?

 

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