The following are several items involving the cash flow activities of the Jones Company for 2019.   Net Income        $33,000 Payment of Dividends        $12,000 Issuance of Bonds        $20,000 Depreciation Expense        $10,500 Equipment Acquired at Cost $  6,,000 Building Acquired at Cost        $42,000 Decrease in Accounts Receivable $  4,500 Decrease in Accounts Payable $  6,000 Decrease in Inventory $ 4,000 Beginning Cash Balance        $12,000     Required:   Using the indirect method, prepare the statement of cash flow of Jones Company for 2019.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
icon
Concept explainers
Topic Video
Question
  1. The following are several items involving the cash flow activities of the Jones Company for 2019.

 

  1. Net Income        $33,000
  2. Payment of Dividends        $12,000
  3. Issuance of Bonds        $20,000
  4. Depreciation Expense        $10,500
  5. Equipment Acquired at Cost $  6,,000
  6. Building Acquired at Cost        $42,000
  7. Decrease in Accounts Receivable $  4,500
  8. Decrease in Accounts Payable $  6,000
  9. Decrease in Inventory $ 4,000
  10. Beginning Cash Balance        $12,000

 

 

Required:

 

Using the indirect method, prepare the statement of cash flow of Jones Company for 2019.

Expert Solution
steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Knowledge Booster
Financial Statements
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education