The following additional information is available for the year: *During the year, the company sold long-term investments for $26,500 that had been purchased for $29,000. *The company did not sell any property, plant, and equipment during the year or repurchase any of its own common stock. *All sales were on credit. *The company paid a cash dividend of $20,500. *The company paid cash to retire $15,600 of bonds payable. Required: a. Using the indirect method, determine the net cash provided by (used in) operating activities. b. Using the direct method, determine the net cash provided by (used in) operating activities. c. Using the net cash provided by (used in) operating activities amount from either part a or b, prepare a statement of cash flows. Complete this question by entering your answers in the tabs below. Required A Required B Required C Using the indirect method, determine the net cash provided by (used in) operating activities. Net cash provided (used in) operating activities
The following additional information is available for the year: *During the year, the company sold long-term investments for $26,500 that had been purchased for $29,000. *The company did not sell any property, plant, and equipment during the year or repurchase any of its own common stock. *All sales were on credit. *The company paid a cash dividend of $20,500. *The company paid cash to retire $15,600 of bonds payable. Required: a. Using the indirect method, determine the net cash provided by (used in) operating activities. b. Using the direct method, determine the net cash provided by (used in) operating activities. c. Using the net cash provided by (used in) operating activities amount from either part a or b, prepare a statement of cash flows. Complete this question by entering your answers in the tabs below. Required A Required B Required C Using the indirect method, determine the net cash provided by (used in) operating activities. Net cash provided (used in) operating activities
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
please answer in text form and in proper format answer with must explanation , calculation for each part and steps clearly
Transcribed Image Text:The following additional information is available for the year:
*During the year, the company sold long-term investments for $26,500 that had been purchased for $29,000.
*The company did not sell any property, plant, and equipment during the year or repurchase any of its own common stock.
*All sales were on credit.
*The company paid a cash dividend of $20,500.
*The company paid cash to retire $15,600 of bonds payable.
Required:
a. Using the indirect method, determine the net cash provided by (used in) operating activities.
b. Using the direct method, determine the net cash provided by (used in) operating activities.
c. Using the net cash provided by (used in) operating activities amount from either part a or b, prepare a statement of cash flows.
Complete this question by entering your answers in the tabs below.
Required A Required B Required C
Using the indirect method, determine the net cash provided by (used in) operating activities.
Net cash provided (used in) operating activities
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