Question
Range Company has the following selected data from its annual period ended December 31. Selected Data Amount Paid cash dividend $28,000 Purchase of equipment for
Range Company has the following selected data from its annual period ended December 31.
Selected Data Amount Paid cash dividend $28,000
Purchase of equipment for cash 168,000
Increase in merchandise inventory 39,200
Borrowed cash on a long-term note 70,000
Acquired land as a future company site; paid in full by issuing 8,400 shares of Range capital stock $10 par, when the market price per share was $15 ?
Increase in prepaid expenses 8,400
Decrease in accounts receivable 19,600
Payment of bonds payable in full 271,600
Increase in accounts payable 14,000
Cash from disposal of equipment (sold at book value) 33,600
Decrease in rent receivable 5,600
Income Statement For the Year Ended December 31
Sales revenue $1,120,000
Rent revenue 28,000
Cost of goods sold 532,000
Depreciation expense 56,000
expenses 271,600 Net income $288,400
Prepare a statement of cash flows for the year ended December 31, using the indirect method to report cash flows from operating activities. The beginning-year cash balance was $173,600. Note: Use a negative sign for subtractions in the statement of cash flows.
Statement of Cash Flows For the Year Ended December 31
Cash flows from operating activities
Answer Adjustments: Answer Answer Answer Answer Answer Answer Answer Cash flows from investing activities Answer Answer Answer Cash flows from financing activities Answer Answer Answer Answer Answer Answer Answer Noncash disclosure: Answer
this is a table preparing a statement of cash flows please help with all questions
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started