Please do not give solution in image format thanku Required:Prepare a statement of cash flows for 2021 in good form using the indirect method for cash flows from operating activities. (Amoito be deducted should be indicated with a minus sign.)MURDOCK CORPORATIONStatement of Cash FlowsFor the Year Ended December 31, 20211Cash flows from operating activities:Adjustments for noncash effects:Changes in operating assets and liabilities:Net cash flows from operating activitiesCash flows from investing activities:Changes in operating assets and liabilities:Net cash flows from operating activitiesCash flows from investing activities:Net cash flows from investing activitiesCash flows from financing activities:Net cash flows from financing activitiesCash balance, January 1Cash balance. December 31 TB Problem 21-167 (Algo)The Murdock Corporation reported the following balance sheet data for 2021 and 2020:CashAvailable-for-sale debt securities (not cash equivalents)Accounts receivableInventoryPrepaid insuranceLand, buildings, and equipmentAccumulated depreciationTotal assetsAccounts payable.Salaries payableNotes payable (current)Bonds payableCommon stockRetained earningsTotal liabilities and shareholders' equityAdditional information for 2021:(1) Sold available-for-sale debt securities costing $70,000 for $74,600.(2) Equipment costing $20,000 with a book value of $5,100 was sold for $6,150.(3) Issued 6% bonds payable at face value, $201,000.(4) Purchased new equipment for $146,000 cash.(5) Paid cash dividends of $20,500.(6) Net income was $51,000.$202178,485 $16,00081,000166,0001,590$1,126,000(573,000)$984,075 $ 879,705202023,55586,00069,150145,9002,1001,252,000(611,000)77,240 $ 149,67020,40025,00025,90076,000201,0000300,000359,535$984,075300,000329,035$ 879,705

The cash flow statement is one of the financial statement of the business. The cash flow statement…

Cash Available-for-sale debt securities (not cash equivalents) Accounts receivable Inventory Prepaid insurance. Land, buildings, and equipment Accumulated depreciation Total assets Accounts payable Salaries payable Notes payable (current) Bonds payable Common stock Retained earnings Total liabilities and shareholders' equity Additional information for 2021: (1) Sold available-for-sale debt securities costing $70,000 for $74,600. (2) Equipment costing $20,000 with a book value of $5,100 was sold for $6,150. (3) Issued 6% bonds payable at face value, $201,000. (4) Purchased new equipment for $146,000 cash. (5) Paid cash dividends of $20,500. (6) Net income was $51.000. 2021 78,485 $ 16,000 81,000 166,000 1,590 1,252,000 (611,000) $984,075 $ 77,240 20,400 25,900 201,000 300,000 359,535 $984,075 2020 23,555 86,000 69,150 145,900 2,100 1,126,000 (573,000) $ 879,705 $ 149,670 25,000 76,000 0 300,000 329,035 $ 879,705

Cash Available-for-sale debt securities (not cash equivalents) Accounts receivable Inventory Prepaid insurance. Land, buildings, and equipment Accumulated depreciation Total assets Accounts payable Salaries payable Notes payable (current) Bonds payable Common stock Retained earnings Total liabilities and shareholders' equity Additional information for 2021: (1) Sold available-for-sale debt securities costing $70,000 for $74,600. (2) Equipment costing $20,000 with a book value of $5,100 was sold for $6,150. (3) Issued 6% bonds payable at face value, $201,000. (4) Purchased new equipment for $146,000 cash. (5) Paid cash dividends of $20,500. (6) Net income was $51.000. 2021 78,485 $ 16,000 81,000 166,000 1,590 1,252,000 (611,000) $984,075 $ 77,240 20,400 25,900 201,000 300,000 359,535 $984,075 2020 23,555 86,000 69,150 145,900 2,100 1,126,000 (573,000) $ 879,705 $ 149,670 25,000 76,000 0 300,000 329,035 $ 879,705

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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