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Barton Corporation began operations on January 1, 2013. Its adjusted trial balance at December 31, 2014 and 2015 is shown below. Other information regarding Barton
Barton Corporation began operations on January 1, 2013. Its adjusted trial balance at December 31, 2014 and 2015 is shown below. Other information regarding Barton Corporation and its activities during 2015 follow in (a) through (e) : a. Assume all accounts have normal balances. b. Equipment was sold for cash of $15,600. c. Old machinery was sold for cash of $12,000. New machinery was purchased for $36,000 cash. d. Share capital was issued for cash. e. Cash dividends were declared and paid. Using the information provided, prepare a statement of cash flows (using the indirect method) for the year ended December 31, 2015. (select one) Statement of Cash Flows (select one) Barton Corporation Adjusted Trial Balance December 31 Account 2015 2014 Accounts Payable 55,090 49,000 Accounts Receivable 49,700 71,750 Accumulated Depreciation, Equipment 3,100 72,500 Accumulated Depreciation, Machinery. 9,200 77,000 Allowance for Doubtful Accounts 2,700 13,750 Depreciation Expense, Equipment 9,600 9,600 Depreciation Expense, Machinery... 7,800 7,800 Cash 412,680 360,000 Cash Dividends 39,000 39,000 Equipment 26,000 121,000 Machinery. 61,400 112,000 Merchandise Inventory 66,630 74,500 Long-term Notes Payable.. 59,210 67,000 Other Expenses (including losses). 700,000 35,000 Retained earnings 95,000 92,000 Revenues (including gains). 743,400 94,400 Share capital 378,000 333,000 Unearned Revenue 27,110 32,000
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