Question
A Part 4 C D Answer all the questions in the spaces provided (Yellow cells) Hunter Company is developing its annual financial statements at December
A Part 4 C D Answer all the questions in the spaces provided (Yellow cells) Hunter Company is developing its annual financial statements at December 31, 2020. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized below 2020 2019 Balance Sheet at December 31 Cash 6,850 4,900 Accounts Receivable 2,350 3,850 1,500.00 Inventory 6,050 4,550 1,500.00 Property, plant and equipment 30,800 18,900 11,900.00 Less: Accumulated depreciation -10,500 -4,200 6,300.00 Patent, net 3,500 0 3,500.00 Goodwill, net 4,900 7,000 2,100.00 43,950 35,000 Accounts payable 2,750 5,250 2,500.00 Wages payable 5,500 3,500 2,000.00 Long-term notes payable 14,000 10,500 3,500.00 Contributed capital 15,050 12,250 2,800.00 Retained earnings 6,650 3,500 3,150.00 43,950 35,000 Income Statement for 2020 Sales Cost of Goods Sold Depreciation expense Impairment loss-Goodwill Wages expense Other expenses Net Income Additional information concerning transactions and events during 2020: 1 Bought truck for cash 2 Acquired patent for cash 3 Paid cash dividends of 105,000 -60,900 -6,300 -2,100 -12,600 -15,750 7,350 $ 8,400 $ 3,500 on Dec 31, 2020 $ 4,200 $ 3,500 long-term note payable. $ 2,800 cash 4 Purchased machinery by signing a 5 Issued new shares for Instruction: 115 Marks) Prepare a statement of cash flows for the year ended December 31, 2020, using the indirect method. Statement of Cash Flows Cash flows from operating activities 21 A fx 3 Paid cash dividends of 4 Purchased machinery by signing a C 4,200 D 3,500 long-term note payable.. $ $ $ 2,800 cash 5 Issued new shares for Instruction: Marks) Prepare a statement of cash flows for the year ended December 31, 2020, using the indirect method. Statement of Cash Flows Cash flows from operating activities Cash flows from operating activities Cash flows from investing activities Cash flows from investing activities Cash flows from financing activities Cash flows from financing activities Supplemental Disclosures for non-cash investing and financing activities (if any) E
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