The income statement of Minerals Plus, Inc., follows: Additional data follow: (a) Acquisition of plant assets is
Question:
Additional data follow:
(a) Acquisition of plant assets is $118,000. Of this amount, $100,000 is paid in cash and $18,000 by signing a note payable.
(b) Cash receipt from sale of land totals $28,000. There was no gain or loss.
(c) Cash receipts from issuance of common stock total $29,000.
(d) Payment of note payable is $18,000.
(e) Payment of dividends is $8,000.
(f) From the balance sheet:
Requirement
1. Prepare Minerals Pluss statement of cash flows for the year ended September 30, 2012, using the indirect method. Include a separate section for noncash investing and financingactivities.
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...
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Related Book For
Financial and Managerial Accounting
ISBN: 978-0132497978
3rd Edition
Authors: Horngren, Harrison, Oliver
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