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Problem ( 1 0 points ) . Attached are the comparative balance sheets for Neeson Corporation for the years ending December 3 1 , 2
Problem points Attached are the comparative balance sheets for Neeson Corporation for the years ending December and X The following additional information is also available for fiscal year X tabletableNEESON CORPORATIONADDITIONAL INFORMATION FOR PREPARINGFTATEMENT OF CASH FLOWSFOR YEAR ENDING DECEMBER XtableEquipment that originally cost $ and was depreciated at the time of disposal wassold for $$ of the long term note payable was paid by issuing common stock.tableOn January the building was completely destroyed by a flood. Insurance proceedson the building were $ after $ in taxes on the gain were paid.Long term investments were sold at $ above their cost.tableA long term note was issued in the amount of $ for the purchase of equipment. Thecompany also made additional borrowings using long term notes during the year.All other purchases of equipment were made in cash.tableThe company declared dividends of $ which were paid during the year along withthe dividends that were payable at the beginning of the year. All other changes to theretained earnings account were due to net income for the period. REQUIRED: Using the attached form, prepare a statement of cash flows for the company for the year ending December X in proper form, using the indirect method. Be sure to include a schedule of noncash investing and financing activities.
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Attached are the comparative balance sheets for Neeson Corporation for the years ending December and X The following additional information is also available for fiscal year X
tabletableNEESON CORPORATIONADDITIONAL INFORMATION FOR PREPARINGFTATEMENT OF CASH FLOWSFOR YEAR ENDING DECEMBER XtableEquipment that originally cost $ and was depreciated at the time of disposal wassold for $$ of the long term note payable was paid by issuing common stock.tableOn January the building was completely destroyed by a flood. Insurance proceedson the building were $ after $ in taxes on the gain were paid.Long term investments were sold at $ above their cost.tableA long term note was issued in the amount of $ for the purchase of equipment. Thecompany also made additional borrowings using long term notes during the year.All other purchases of equipment were made in cash.tableThe company declared dividends of $ which were paid during the year along withthe dividends that were payable at the beginning of the year. All other changes to theretained earnings account were due to net income for the period.
REQUIRED: Using the attached form, prepare a statement of cash flows for the company for the year ending December X in proper form, using the indirect method. Be sure to include a schedule of noncash investing and financing activities.
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