Rosetta Inc.s records contain the following information about the 2023 cash flows. Required Prepare a statement of
Question:
Rosetta Inc.’s records contain the following information about the 2023 cash flows.
RequiredPrepare a statement of cash flows using the direct method and a note describing non-cash investing and financing activities.
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Cash and cash equivalents balance, December 31, 2022........ Cash and cash equivalents balance, December 31, 2023.. Cash received as interest.... Cash paid for salaries........... Bonds payable retired by issuing common shares (there was no gain or loss on the retirement).. Cash paid to retire long-term notes payable... Cash received from sale of equipment........ Cash borrowed on six-month note payable.. Land purchased and financed by long-term note payable............ Cash paid for store equipment........... Cash dividends paid.... Cash paid for income taxes... Cash received from customers.. Cash paid for merchandise.. Depreciation expense.......... $ 37,500 84,375 3,750 26,250 281,250 91,875 37,500 37,500 159,375 35,625 22,500 30,000 363,750 189,375 108,750
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Noncash investing and financing activitiesThe company issued common shares to retire 281250 of bonds ...View the full answer
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Related Book For
Fundamental Accounting Principles Volume 2
ISBN: 9781260881332
17th Canadian Edition
Authors: Kermit D. Larson, Heidi Dieckmann, John Harris
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