The comparative balance sheet for Sand Products, Inc., as of December 31, 2016 and 2015, is shown

Question:

The comparative balance sheet for Sand Products, Inc., as of December 31, 2016 and 2015, is shown below, followed by the condensed income statement and other financial data for 2016.
The comparative balance sheet for Sand Products, Inc., as of
The comparative balance sheet for Sand Products, Inc., as of
The comparative balance sheet for Sand Products, Inc., as of

INSTRUCTIONS
Prepare a statement of cash flows for 2016.
a. Sold used equipment for $27,000 in cash that originally cost $32,000; accumulated depreciation was $8,000. The remainder of the change in Equipment represents equipment purchased for cash.
b. Issued short-term notes payable with a par value of $20,000. Retired bonds payable at maturity.
c. Paid cash dividends of $30,000.
d. Issued common stock at par value for cash.
Analyze:
Was the amount of net cash provided by operating activities sufficient to cover the cash that the company required for financing activities? Explain.

Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...
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College Accounting Chapters 1-30

ISBN: 978-0077862398

14th edition

Authors: John Price, M. David Haddock, Michael Farina

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