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$ 2250 Prepaid factory insurance that expired Instructions: Prepare separate journal entries for the above transactions QUESTION 5 Prepare statement of cash flow using indirect
$ 2250 Prepaid factory insurance that expired Instructions: Prepare separate journal entries for the above transactions QUESTION 5 Prepare statement of cash flow using indirect method Duke Merchandising Company has the following financial information for 2016, Decrease in prepaid insurance Depreciation expense Increase in accounts receivable10 Decrease in accounts payable Purchase of equipment 21 30 9 58 38 39 19 45 46 Issuance of common stock Payments of cash dividends Sale of land Redemption of bonds Cash at beginning of period Loss on sale of land Increase in inventory 10 Net income 85 Question 6 (All information pertains to ABC Corporation for 2017 and 2018). January 1st purchased 800 shares of Honeywell Corporation common stock for $19 per share January 1st purchased 200, ($1000 each) 6% bonds from King Shipping Corporation for $ 214,000. Interest is received annually on January 1st May 31 received a cash dividend of $ 1.50 per share from Honeywell Corporation. December 31 Accrue interest on King shipping Corporation Bonds January 1 Receive interest from King Shipping Corporation Bonds Sept. 16 Sold 150 shares of Honeywell Corporation for $24 per share. January 1, 2018 Sold the 200 King Shipping Corporation bonds for $206,000
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