Question
The following information is available forWindsorCorporation for the year ended December 31, 2022: Collection of principal on long-term loan to a supplier$28,000Acquisition of equipment for
The following information is available forWindsorCorporation for the year ended December 31, 2022:
Collection of principal on long-term loan to a supplier$28,000Acquisition of equipment for cash14,000Proceeds from the sale of long-term investment at book value22,200Issuance of common stock for cash21,500Depreciation expense26,700Redemption of bonds payable at carrying (book) value36,700Payment of cash dividends7,500Net income37,600Purchase of land by issuing bonds payable42,300
In addition, the following information is available from the comparative balance sheet forWindsorat the end of 2022 and 2021:
20222021Cash$158,600$92,500Accounts receivable (net)28,00016,000Prepaid insurance18,20013,500Total current assets$204,800$122,000Accounts payable$30,100$24,100Salaries and wages payable6,3007,300Total current liabilities$36,400$31,400
PrepareWindsor's statement of cash flows for the year ended December 31, 2022, using the indirect method.(Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
WINDSORCORPORATION
Statement of Cash Flows
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