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Presented here are the financial statements of Concord Company. Assets Cash CONCORD COMPANY Comparative Balance Sheets December 31 Accounts receivable Inventory Property, plant, and equipment
Presented here are the financial statements of Concord Company. Assets Cash CONCORD COMPANY Comparative Balance Sheets December 31 Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock 2022 $38,000 33,000 30,800 59,500 (29,700) $131,600 $28,200 7,300 27,300 17,000 2021 $20,900 19,300 20,500 77,500 (23,400) $114,800 $16,400 8,500 33,300 14,500 Presented here are the financial statements of Concord Company. 1. Depreciation expense was $16,600. 2. Dividends declared and prid were $22,860. 3. During the year, equipment was sold for $7,700 cash. This equipment originally cost $18,000 and had accumulated depreciation of $10,300 at the time of sale. 4. Bonds were redeemed at their carrying value. 5. Common stock was issued at par for cash. (a) Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign ess 15,000 or in porenthesis e.s. (15,000)) Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign c.s 15,000 or in parenthesis e.g. (15,000)
Presented here are the financial statements of Concord Company. Assets Cash CONCORD COMPANY Comparative Balance Sheets December 31 Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Total Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock 2022 $38,000 33,000 30,800 59,500 (29,700) $131,600 $28,200 7,300 27,300 17,000 2021 $20,900 19,300 20,500 77,500 (23,400) $114,800 $16,400 8,500 33,300 14,500
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