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During 2023, Nettle Clothing had the following other transactions: 1. Sold land of $79,000 to another company. 2. Issued 200,000 shares of common stock for
During 2023, Nettle Clothing had the following other transactions:
1. Sold land of $79,000 to another company.
2. Issued 200,000 shares of common stock for $80 per share. Total proceeds of $16,000.
3. Sold equipment of $36,000 with accumulated depreciation of $10,000.
4. Issued debt of $10,000.
5. Bought new equipment for $65,000.
6. Declared and paid a cash dividend during the year of $12,000.
Prepare Nettle Clothings statement of cash flows using the indirect method.
Problem \#2 Statement of Cash Flow, Direct Method The Nettle Clothing Company prepared the following comparative balance sheet for 2023 and 2022 and income statement for 2023 : Nettle Clothing Company Comparative Balance Sheet (in 000's) December 31, 2023 and December 31, 2022 Nettle Clothing Company Income Statement (in 000's) For the Year Ended December 31, 2023Step by Step Solution
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