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Prepare a statement of cash flows for 2020 using the indirect method. (Sho -15,000 or in parenthesis e.g. (15.000))

Prepare a statement of cash flows for 2020 using the indirect method. (Sho -15,000 or in parenthesis e.g. (15.000))

FINANCIAL ACCOUNTING
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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am. 63.

Additional information: 1. 2. 3. 4. 5. (a) Net income for 2020 was $102,000. Cash dividends of $28,000 were declared and paid. Bonds payable amounting to $59,000 were redeemed for cash $59,000. Common stock was issued for $41,000 cash. Equipment that cost $49,000 and had a book value of $29,000 was sold for $38,000 during 2020; land was sold at cost. Prepare a statement of cash flows for 2020 using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis e.g. (15,000).) KINGBIRD COMPANY Statement of Cash Flows 11₁
Transcribed Image Text:Additional information: 1. 2. 3. 4. 5. (a) Net income for 2020 was $102,000. Cash dividends of $28,000 were declared and paid. Bonds payable amounting to $59,000 were redeemed for cash $59,000. Common stock was issued for $41,000 cash. Equipment that cost $49,000 and had a book value of $29,000 was sold for $38,000 during 2020; land was sold at cost. Prepare a statement of cash flows for 2020 using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis e.g. (15,000).) KINGBIRD COMPANY Statement of Cash Flows 11₁
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