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Required information The comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are given below for Dux Company. Additional information
Required information The comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are given below for Dux Company. Additional information from Dux's accounting records is provided also DUX COMPANY Comparative Balance Sheets December 31, 2018 and 2017 (s in e00s) 2018 2017 Assets $ 52 31 Cash Accounts receivable Less: Allowance for uncollectible accounts 78 Dividends receivable 4 Inventory 100 95 Long-term investment Land 54 50 95 85 Buildings and equipment Less: Accumulated depreciation 200 162 38 80 467 460 Liabilities Accounts payable Salaries payable Interest payable Income tax payable Notes payable Bonds payable $ 46 82 7 10 80 50 Less: Discount on bonds Shareholders' Equity Common stock 210 200 Paid-in capital-excess of par Retained earnings 20 97 Less: Treasury stock (at cost) (10) e 467 460 DUX COMPANY Income Statement For the Year Ended December 31, 2018 ($ in 000s) Revenues Sales revenue $ 370 4 $374 Dividend revenue Expenses Cost of goods sold Salaries expense $ 245 38 Depreciation expense Bad debt expense Interest expense 10 Loss on sale of building Income tax expense $45350 $ 24 Net income Additional information from the accounting records a. A building that originally cost $68,000, and which was three-fourths depreciated, was sold for $15,000 b. The common stock of Byrd Corporation was purchased for $4,000 as a long-term investment. C. Property was acquired by issuing a 15%, seven-year, $10,000 note payable to the seller. d. New equipment was purchased for $30,000 cash e. On January 1, 2018, bonds were sold at their $30,000 face value f. On January 19, Dux issued a 5% stock dividend (1,000 shares). The market price of the $10 par value common stock was $14 per share at that time g. Cash dividends of $13,000 were paid to shareholders h. On November 12, 1,000 shares of common stock were repurchased as treasury stock at a cost of $10,000 Prepare the statement of cash flows for Dux Company. Use the T-account method to assist in your analysis. (Do not round your intermediate calculations. Enter your answers in thousands. Amounts to be deducted should be indicated with a minus sign.) DUX COMPANY Statement of Cash Flows For year ended December 31, 2018 S in 000s Cash inflows Cash outflows Noncash investing and financing activities
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