In 2020, an accountant for SafeCo inadvertently deleted data related to the financial statements. Thefollowing information was able to be retrievedAccount12/31/202012/31/2019Cash200,000.00250,000.00Accounts ReceivableProperty Plant and Equipment45,000.00?200,000.0090,000.00300,000.00GoodwillAccounts PayableLong Term Debt235,000.00200,000.00200,000.00300,000.00Common Stock30,000.00Retained Earnings200,000.0020,000.001) All balances were normal.2) No other accounts were presented.3) Dividends were issued during the period for 30,0004) After recording $30,000 in depreciation for the year, a $20,000 gain was noted when certainproperty was sold5) The Goodwill was acquired through issuance of Common StockPrepare a Statement of Cash Flows (using Indirect Method) for 2020.

Cash flow statement is a statement which is prepared to find out the cash comes in and goes out , by…

In 2020, an accountant for SafeCo inadvertently deleted data related to the financial statements. The following information was able to be retrieved 12/31/2020 12/31/2019 250,000.00 Account Cash 200,000.00 45,000.00 200,000.00 90,000.00 Accounts Receivable ? Property Plant and Equipment 300,000.00 Goodwill Accounts Payable Long Term Debt ? 235,000.00 300,000.00 30,000.00 20,000.00 200,000.00 Common Stock Retained Earnings 200,000.00 200,000.00 1) All balances were normal. 2) No other accounts were presented. 3) Dividends were issued during the period for 30,000 4) After recording $30,000 in depreciation for the year, a $20,000 gain was noted when certain property was sold 5) The Goodwill was acquired through issuance of Common Stock Prepare a Statement of Cash Flows (using Indirect Method) for 2020.

In 2020, an accountant for SafeCo inadvertently deleted data related to the financial statements. The following information was able to be retrieved 12/31/2020 12/31/2019 250,000.00 Account Cash 200,000.00 45,000.00 200,000.00 90,000.00 Accounts Receivable ? Property Plant and Equipment 300,000.00 Goodwill Accounts Payable Long Term Debt ? 235,000.00 300,000.00 30,000.00 20,000.00 200,000.00 Common Stock Retained Earnings 200,000.00 200,000.00 1) All balances were normal. 2) No other accounts were presented. 3) Dividends were issued during the period for 30,000 4) After recording $30,000 in depreciation for the year, a $20,000 gain was noted when certain property was sold 5) The Goodwill was acquired through issuance of Common Stock Prepare a Statement of Cash Flows (using Indirect Method) for 2020.

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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