he Newcastle Corporation to prepare a statement of cash flows using the indirect method: Accounts payable decrease $9,100 Accounts receivable increase 12,740 Wages payable decrease 5,460 Amortization expense 29,120 Cash balance, January 1 54,600 Cash balance, December 31 12,740 Cash paid as dividends 10,920 Cash paid to purchase land 182,000 Cash paid to retire bonds payable at par 136,500 Cash received from issuance of common stock 81,900 Cash received from sale of equipment 21,840 Depreciation expense 70,980 Gain on sale of equipment 25,480 Inventory increase 23,660 Net income 174,720 Prepaid expenses increase 14,560
he Newcastle Corporation to prepare a statement of cash flows using the indirect method: Accounts payable decrease $9,100 Accounts receivable increase 12,740 Wages payable decrease 5,460 Amortization expense 29,120 Cash balance, January 1 54,600 Cash balance, December 31 12,740 Cash paid as dividends 10,920 Cash paid to purchase land 182,000 Cash paid to retire bonds payable at par 136,500 Cash received from issuance of common stock 81,900 Cash received from sale of equipment 21,840 Depreciation expense 70,980 Gain on sale of equipment 25,480 Inventory increase 23,660 Net income 174,720 Prepaid expenses increase 14,560
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Use the following information regarding the Newcastle Corporation to prepare a statement of
| Accounts payable decrease | $9,100 |
| 12,740 | |
| Wages payable decrease | 5,460 |
| Amortization expense | 29,120 |
| Cash balance, January 1 | 54,600 |
| Cash balance, December 31 | 12,740 |
| Cash paid as dividends | 10,920 |
| Cash paid to purchase land | 182,000 |
| Cash paid to retire bonds payable at par | 136,500 |
| Cash received from issuance of common stock | 81,900 |
| Cash received from sale of equipment | 21,840 |
| 70,980 | |
| Gain on sale of equipment | 25,480 |
| Inventory increase | 23,660 |
| Net income | 174,720 |
| Prepaid expenses increase | 14,560 |
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