Question
The following information is related to Alpha Company's fiscal year 2017. Income Statement: Net Income $300,000 Depreciation Expense 50,000 Gain on Sale of Plant Assets
The following information is related to Alpha Company's fiscal year 2017.
Income Statement:
Net Income $300,000
Depreciation Expense 50,000
Gain on Sale of Plant Assets 10,000
Interest Expense 500
Balance Sheet - 12/31/17: Increase (Decrease)
Accounts Payable ($4,000)
Plant Assets - Purchased 250,000
Plant Assets - Disposals (100,000)
Additional Information:
Cash Balance - 12/31/2016: $50,000
Common Stock exchanged for outstanding Long Term Notes Payable of $125,000
Dividends paid were $25,000
Use this information to prepare the Statement of Cash Flows for Alpha Company using the indirect method.
Statement of Cash Flows:
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Research Methods And Audit For General Practice
Authors: David Armstrong, John Grace
3rd Edition
0192631918, 978-0192631916
