Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

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 alsoimage text in transcribedimage text in transcribed

a. A building that originally cost $64,000, and which was three-fourths depreciated, was sold for $14,000.

b. The common stock of Byrd Corporation was purchased for $5,000 as a long-term investment.

c. Property was acquired by issuing a 14%, seven-year, $25,000 note payable to the seller

d. New equipment was purchased for $43,000 cash e. On January 1, 2018, bonds were sold at their $25,000 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 $11,000 were paid to shareholders.

h. On November 12, 1,000 shares of common stock were repurchased as treasury stock at a cost of $9,000.

Required: Prepare the statement of cash flows of Dux Company for the year ended December 31, 2018. Present cash flows from operating activities by the direct method. (Do not round your intermediate calculations. Enter your answers in thousands (i.e., 5,000 should be entered as 5). Amounts to be deducted should be indicated with a minus sign.)

O............ ws pl... 91D I wa D www. www.com WWW . - www 111 The wr;w w :Mt Ma Ha : 59: :::: : 111MTEwr:::::20 MG;34:4:{s:34 1 . 21. ! E... wer hil " Es l E| #* # tas GLI = NA qil. Pah.. w ... SP 11 HEC 10 14 Turu IN led! 1 1 11 ........ 2.7 x 500 T- CHORY, WIF.SLOSTIEK En Jorxy 392.b dysk 25000 evaks HASBROSSART! Caner 1000 AM YRITTIIN. per The Vrees in IPL UW ----... 0 ja teine vers inimin e mostrar ws pl... 91D ir 11 HYMY interesuarix: 25.

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_2

Step: 3

blur-text-image_3

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

Introduction To Cost Accounting

Authors: Don R. Hansen, Maryanne Mowen, Liming Guan, Mowen/Hansen

1st International Edition

0538749636, 978-0538749633

More Books

Students also viewed these Accounting questions