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Please show workings and calculations and complete an entire statement of cash flows with operating, investing, and financing all included. There are also more entries
Please show workings and calculations and complete an entire statement of cash flows with operating, investing, and financing all included.
There are also more entries and work needed for "
Supplemental disclosures of cash flow information: |
The comparative balance sheets for Sandhill Corporation show the following information. Cash Accounts receivable Inventory Available-for-sale debt investments Buildings Equipment Patents December 31 2020 2019 $33.100 $ 12,900 12,300 9,900 12.100 8.900 -0- 3,100 -0- 29,500 45,000 20,100 5,000 6,200 $107,500 $90,600 Allowance for doubtful accounts Accumulated depreciation-equipment Accumulated depreciation-building Accounts payable Dividends payable Notes payable, short-term (nontrade) Long-term notes payable Common stock Retained earnings $3,000 2.000 -0- 5,000 -0- 2,900 31,000 43,000 20,600 $107,500 $4,500 4,500 6,100 3,100 5,000 3,900 25,000 33,000 5,500 $90,600 Additional data related to 2020 are as follows. 1. 2. 3. 4. Equipment that had cost $10,900 and was 40% depreciated at time of disposal was sold for $2,600. $10,000 of the long-term note payable was paid by issuing common stock. Cash dividends paid were $5,000. On January 1, 2020, the building was completely destroyed by a flood. Insurance proceeds on the building were $29,800 (net of $2,000 taxes). Debt investments (available-for-sale) were sold at $1,700 above their cost. The company has made similar sales and investments in the past. Cash was paid for the acquisition of equipment. A long-term note for $16,000 was issued for the acquisition of equipment. Interest of $1,900 and income taxes of $6,600 were paid in cash. 5. 6. 7. 8. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis eg. (15,000).) SANDHILL CORPORATION Statement of Cash Flows Supplemental disclosures of cash flow information: $ $
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