Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Additional information from Dux's accounting records is provided also. Adwional informotion from the accounting records a. A bulding that originally cost $40,000 ond which wos

image text in transcribed
image text in transcribed
image text in transcribed
Additional information from Dux's accounting records is provided also. Adwional informotion from the accounting records a. A bulding that originally cost $40,000 ond which wos three fourths depreciated, was told for $7,000 b. The common stock of Byrd Corporation was purchased for $4,000 os a iong-term investinent c. Property wos acquired by issuing a 14\%, seven-year, 520,000 note poysble to the seller Additional information from the accounting records: a. A building that originally cost $40,000, and which was three-fourths depreciated, was sold for $7,000 b. The common stock of Byrd Corporation was purchosed for $4,000 as o long-term investment. c. Property wos acquired by issuing a 14%, seven-year, $20,000 note payable to the seller. d. New equipment wos purchased for $37,000cash e. On January 1, 2024, bonds were sold at their $25,000 face value f. On January 19 , Dux issued o 5% stock dividend (1,000 shares). The market price of the $10 par value common stock was $14 per share ot that time 9. Cash dividends of $11,000 were paid to shareholders. h. On November 12,1,000 shares of common stock were repurchased as treasury stock at a cost of $8,000 Required: Prepare the statement of cash flows of Dux Company for the year ended December 31, 2024. Present cash flows from operating activities by the direct method Note: Do not round your intermediate calculations. Enter your answers in thousands (i.e., 10,000 should be entered as 40 ). Amounts to be deducted should be indicated with a minus sign. DUX COMPANY Statement of Cash Flows For the year ended December 31, 2024 ( $ in thousands) Cash flows from operating activities: Cashinfiows

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions