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EXPANDED STATEMENT OF
Additional information:
1. Office equipment was sold in 20-2 for $35,000. Additional information on the office equipment sold is provided below.
2.
3. The following purchases were made for cash:
4. Declared and paid cash dividends of $40,000.
5. Issued 10,000 shares of $10 par common stock for $22 per share.
6. Acquired additional office equipment by issuing a note payable for $8,000.
REQUIRED
Prepare a statement of cash flows explaining the change in cash and cash equivalents for the year ended December 31, 20-2.
STATEMENT OF CASH FLOWS UNDER THE DIRECT METHOD Using the information provided in Problem 23-12B for McGinnis Company, prepare the following:
1. A schedule for the calculation of cash generated from operating activities for McGinnis Company for the year ended December 31, 20-2.
2. A statement of cash flows for McGinnis Company prepared under the direct method for the year ended December 31, 20-2.
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Chapter 23A Solutions
Bundle: College Accounting, Chapters 1-15, Loose-Leaf Version, 22nd + LMS Integrated for CengageNOWv2, 1 term Printed Access Card
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