Answered step by step
Verified Expert Solution
Question
1 Approved Answer
indirect method Additional information: Eldridge Company (1) there was no gain or loss on the sales of the long-term investments; the cash received was $600.
indirect method
Additional information: Eldridge Company (1) there was no gain or loss on the sales of the long-term investments; the cash received was $600. (2) Old machinery with an original cost of $45,060 was sold for $2,520 cash. (3) New machinery was purchased for $81,060 cash. (4) Cash dividends of $40,320 were paid. (5) Additional shares of stock were issued for $30,000 cash. (6) Retirement of bond for $20,700. Prepare a complete statement of cash flows for calendar-year 2024 using the indirect method. 14. Use the following company information to calculate its net cash provided or used by imvesting activities: (a) Equipment with a book value of $125,000 and an original cont of $220,000 was sold for $22,000 cash. (b) Paid $49,000 cash for a new truck. (c) Sold land costing $30,000 for $26,000 cash, restinng a $4,000 loss (d) Purchased treasury stock for $53,000 cash. (e) Long-term investments in stock are sold for $41,000 cash, realizing a gain of $3,500. 15. Use the following information to calculate the net cash provided or used by financing activities for the Brooks Corporation: (a) Net income, $10,000 (b) Sold common stock for $4,000cash (c) Paid cash dividend of $3,000 (d) Paid bond payable, $8,000 (e) Purchased equipment for $12,000 cash (f) Received cash dividend of $1,500 cash 16. Provide two different transactions that would be a non cash transaction for the statement of cash flows 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