Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Problem 2116 (Algo) Statement of cash flows; indirect method [LO21-4, 21-8] The comparative bolance sheets for 2024 and 2023 and the statement of income for

image text in transcribed
image text in transcribed
image text in transcribed
Problem 2116 (Algo) Statement of cash flows; indirect method [LO21-4, 21-8] The comparative bolance sheets for 2024 and 2023 and the statement of income for 2024 are given below for Dux Company. Additional information from Dux's accounting records is provided also: Additional information from the occounting records. a. A building that onginaily cost $192.000, and which was three-fourths depreciated, was sold for $7.000, b. The common stosk of Byrd Corporauon was purchased for $5,000 as a long-term investment. c. Property was acquired by issuing a 13%, seven-year, $49,000 note payable to the sellet d. New equipment was purchased for $72,000 cash. e. On January 1,2024, bonds were sold at their $44,000 face value f. On January 19. Dux issued o 5% stock dividend (1.000 shares). The market price of the $10 par value common stock was $14 per share at that time. 9. Cash dividends of $32,000 were paid to shareholders h. 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 Compary using the indirect method: Note: Amounts to be deducted should be indlcated with a minus sign. Enter your answers in thousands (l.e., 10,000 should be entered os 10 )

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Information Systems Enhancing Performance Of The Enterprise

Authors: Abraham Nyirongo

1st Edition

1490754997, 9781490754994

More Books

Students also viewed these Accounting questions

Question

List the components of the strategic management process. page 72

Answered: 1 week ago