Question
Use a spreadsheet to create Cash Flow Statement for Contest Company, for the year ended December 31, 2005. Follow the steps on the contentpage. Additional
Use a spreadsheet to create Cash Flow Statement for Contest Company, for the year ended December 31, 2005. Follow the steps on the contentpage.
Additional Information:
The company had a net income of $60,000 in 2005.
Equipment depreciated $9,000 in 2005.
Equipment costing $21,000 was purchased.
Fully depreciated equipment that cost $3,000 was discarded; its cost and accumulated depreciation were removed from the accounts.
Fifteen hundred (1500) shares of stock were sold and issued at $12 per share.
The company declared $30,000 of cash dividends during the year and paid $21,000.
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