Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Comparative balance sheets for Oriole Comparry are presented as follows. Additional information: 1. Net income for 2019 was $135,000. 2. Cash dividends of $70,200 were
Comparative balance sheets for Oriole Comparry are presented as follows. Additional information: 1. Net income for 2019 was $135,000. 2. Cash dividends of $70,200 were declared and paid. 3. Bonds payable amounting to $49,900 were redeemed for cash $49,900. 4. Common stock was issued for $49,700 cash. 5. Depreciation expense was $24,550. 6. Sales revenue for the year were $977,700. 7. Land was sold at cost, and equipment was purchased for cash. Prepare a worksheet for a statement of cash flows for 2019 using the indirect method. Enter the reconciling items directly on the worksheet. (Show amounts that decrease cash flow with either a - sign e.g. - 15,000 or in parenthesis e.g. (15,000). ) Credits Accumulated depreciation-equipment Accounts payable Bonds payable Common stock Retained earnings Total
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started