XYZ Inc's comparative balance sheets are presented below. XYZ Inc. Comparative Balance Sheets 31-Dec Additional informat
Posted: Fri Jul 01, 2022 7:36 am
XYZ Inc's comparative balance sheets are presented below.
XYZ Inc.
Comparative Balance Sheets
31-Dec
Additional information:
Net income was $17,700. Dividends declared and paid were$9,300.
Equipment which cost $11,000 and had accumulated depreciation of$2,000 was sold for $4000
All other changes in noncurrent account balances had a directeffect on cash flows, except the change in accumulateddepreciation.
Prepare a statement of cash flows for 2021 using the indirectmethod.
Net Income
Depreciation
Loss on equipment sale
Change In A/R
Change in A/P
Cash flow from Operations
Sale of equipment
Change in Investments
Cash from Investing
Change in Bonds Payable
Issue of Common Stock
Dividends
Cash from Financing
Change in Cash
XYZ Inc.
Comparative Balance Sheets
31-Dec
Additional information:
Net income was $17,700. Dividends declared and paid were$9,300.
Equipment which cost $11,000 and had accumulated depreciation of$2,000 was sold for $4000
All other changes in noncurrent account balances had a directeffect on cash flows, except the change in accumulateddepreciation.
Prepare a statement of cash flows for 2021 using the indirectmethod.
Net Income
Depreciation
Loss on equipment sale
Change In A/R
Change in A/P
Cash flow from Operations
Sale of equipment
Change in Investments
Cash from Investing
Change in Bonds Payable
Issue of Common Stock
Dividends
Cash from Financing
Change in Cash