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Carlson Software Corp. has assembled the following data for the years ending December 31, 2019 and 2018. 1. Prepare Carlson Software Corp.s statement of cash
Carlson Software Corp. has assembled the following data for the years ending December 31, 2019 and 2018. |
1. Prepare Carlson Software Corp.s statement of cash flows using the indirect method to report operating activities. Include an accompanying schedule of non-cash investing and financing activities. |
$ 14 100 32 000 46 000 Transaction Data for 2019: Acquisition of land by issuing long-term note payable ..... Stock dividends Collection of loan............ Depreciation expense Purchase of building.... Retirement of bonds payable by issuing common stock .... Purchase of long-term investment....... 202 000 34 900 12 400 19 000 159 000 Purchase of treasury stock ..... $ Loss on sale of equipment Payment of cash dividends .... Issuance of long-term note payable to borrow cash.... Net income.. Issuance of common stock for cash ..... Procedes from sale of equipment Amortization expense...... 52 200 58 000 80 000 83 100 45 300 12 300 (5 500) Financial Accounting Problem 2 Prepare the statement of cash flows -- Indirect method Students: Please fill-in areas that are shaded. Carlson Software Corp. has assembled the following data for the years ending December 31, 2019 and 2018. December 31, 2019 2018 $ $ $ Current Accounts: Current assets: Cash and cash equivalents Accounts receivable Inventories... Prepaid expenses. Current liabilities: Accounts payable. Income tax payable. Accrued liabilities 105 800 $ 18 000 $ 8 600 $ 2 900 $ 20 000 64 100 86 000 1 600 S $ $ S 9 300 $ 28 600 $ 15 000 $ 55 400 16 600 27 400 Carlson Software Corp. Statement of Cash Flows Year Ended December 31, 2019 Cash flows from operating activites: Net income...... Adjustments to reconcile net income to net cash provided by operating activities: Depreciation......... $ $ 58 000 19 000 19 000 Net cash provided by operating activities. Cash flows from investing activities: Net cash used for investing activities. Cash flows from financing activities: Net cash provided by financing activities Net increase in cash.. Cash balance, December 31, 2018. Cash balance, December 31, 2019 Noncash investng and financing activities: Total noncash investing and financing activities
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