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I need help filling out the Cash Inflow and Outflow colloums. The options are : Acquired Land, Cash balance Dec 31, Cash Balance Jan 1,
I need help filling out the Cash Inflow and Outflow colloums. The options are : Acquired Land, Cash balance Dec 31, Cash Balance Jan 1, For Income Taxes, For Interest, From Customers, From Dividends Received, Payment Of Dividends, Purchase of Equipment, Purchase of Long-term Investment, Purchase of Treasury Stock, Sale of bonds Payable, Sale of Building, To Employees, To Suppliers of Goods.
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Problem 214 (Static) Statement of cash flows; dlrect method [LO21-3, 21-8] The comparative balance sheets for 2021 and 2020 and the statement of Income for 2021 are given below for Dux Company. Additional Information from Dux's accounting records is provided also. Additional information from the accounting recorols: a. A bullding that origlnally cost $40,000, and which was three-fourths depreclated, was sold for $7,000. b. The common stock of Byrd Corporation was purchased for $5,000 as a long-term Investment. c. Property was acqulred by 1ssulng a 13%, seven-year, $30,000 note payable to the seller. d. New equipment was purchased for $15,000 cash. e. On January 1,2021 , bonds were sold at thelr $25,000 face value. f. On January 19, Dux 1ssued a 5% stock dividend (1,000 shares). The market price of the $10 par value common stock was $14 per share at that time. g. Cash dividends of $13,000 were paid to shareholders. h. On November 12,500 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, 2021. Present cash flows from operating actlvitles by the dlrect method. (Do not round your intermediate calculations. Enter your answers in thousands (1.e., 10,000 should be entered as 10). Amounts to be deducted should be indicated with a minus sign.)Step by Step Solution
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