Accountants for Crowne Plaza Products Inc. have assembled the following data for the year ended December 31,
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Requirement
Prepare Crowne Plaza Products' statement of cash flows using the indirect method to report operating activities. Include an accompanying schedule of non-cash investing and financing activities. How much of the cash used for investing activities was provided by operations?
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December 31 2014 2013 Current Accounts: Current assets: Cash and cash equivalents Accounts receivable Inventories Prepaid expenses $29,100 70,100 90,600 3,200 $34,800 73,700 96,500 2,100 Current liabilities: Accounts payable Income tax payable Accrued liabilities 71,600 5,900 28,300 67,500 6,800 23,200 Transaction Data for 2014 Payment of cash dividends Issuance of long-term note $ 12,600 10,300 69,000 $48,300 Stock dividends Collection of loan payable to borrow cash. Net incom31,000 Payment of note payable by Issuance of preferred shares for cash... 36,200 issuing common shares Sale of long-term investment Depreciation expense Payment of long-term note payable..47,800 long-term note payable. Gain on sale of investment 71,000 Purchase of equipment 89,400 .12,200 Purchase of long-term investment..44,800 30,300 Acquisition of building by issuing 201,000 3,500
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Related Book For
Financial Accounting
ISBN: 978-0133472264
5th Canadian edition
Authors: Charles Horngren, William Thomas, Walter Harrison, Greg Berberich, Catherine Seguin
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