Prepare a statement of cash flows for December 31, 2015 using the indirect method. (Reconcile net income to net operating cash only for indirect method) No land was sold in 2018 cash was received through an issuance of bonds payable, 10,000. This cash was used later in 2018 to purchase land. A fixed asset was sold for $4,100. Fixed assets worth $12,200 were damaged in an accident in 2018. Insurance claims have been filed, but not paid as of 12/31/18. Total cash purchases of fixed assets $28,300. Cash dividends pain were $108,900 in 2018
Prepare a statement of cash flows for December 31, 2015 using the indirect method. (Reconcile net income to net operating cash only for indirect method) No land was sold in 2018 cash was received through an issuance of bonds payable, 10,000. This cash was used later in 2018 to purchase land. A fixed asset was sold for $4,100. Fixed assets worth $12,200 were damaged in an accident in 2018. Insurance claims have been filed, but not paid as of 12/31/18. Total cash purchases of fixed assets $28,300. Cash dividends pain were $108,900 in 2018
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Prepare a statement of cash flows for December 31, 2015 using the indirect method. (Reconcile net income to net operating cash only for indirect method)
No land was sold in 2018 cash was received through an issuance of bonds payable, 10,000.
This cash was used later in 2018 to purchase land.
A fixed asset was sold for $4,100.
Fixed assets worth $12,200 were damaged in an accident in 2018.
Insurance claims have been filed, but not paid as of 12/31/18.
Total cash purchases of fixed assets $28,300.
Cash dividends pain were $108,900 in 2018.
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