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Please help! Your time and help is appreciated! Problem 21-16 (Algo) Statement of cash flows; indirect method [LO21-4, 21-8] The comporative balance sheets for 2021
Please help! Your time and help is appreciated!
Problem 21-16 (Algo) Statement of cash flows; indirect method [LO21-4, 21-8] The comporative balance sheets for 2021 and 2020 and the statement of income for 2021 are given below for Dux Company. Addational informotion from Dux's accounting records is provided also. Additional information from the accounting records: a. A bulding thot onginaly cost $136,000, and which was three-fourths depreciated, wos sold for $7,000. b. The common stock of Byrd Corporation was purchased for $5,000 as a long-term investment. c. Property was acquired by issuing a 13%, seven year, $42.000 note payable to the seller. a. New equipment was purchased for $51.000 cash. e. On January 1,2021 , bonds were sold at there $37,000 tace value. t. On January 19. Dux issued a 5% stock dividend (1000 shares). The market price of the $10 par value common stock was $14 per share of that time. 9 Cash dividends of $25,000 were paid to shareholders 1. On November 12,12,500 shares of common stock were repurchased as treasury stock at a cost of $8,000. Required: Prepare the statement of cash flows for Dux Company using the indirect method. (Amounts to be deducted should be indicated with o minus sign. Enter your answers in thousands (t.e., 10,000 should be entered as 10).) Step by Step Solution
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