Statement of Cash Flows. Additional Data:
1. Net income for the year amounted to $109,000.
2. Cash dividends were paid amounting to 4% of par value.
3. Land was sold for $120,000."
4. Sharp sold equipment, which cost $225,000 and had accumulated depreciation of $90,000, for $115,000.
InstructionsPrepare a statement of cash flows using the indirect method."

Question

Statement of Cash Flows.  Additional Data:
1. Net income for the year amounted to $109,000.
2. Cash dividends were paid amounting to 4% of par value.
3. Land was sold for $120,000."
4. Sharp sold equipment, which cost $225,000 and had accumulated depreciation of $90,000, for $115,000.
InstructionsPrepare a statement of cash flows using the indirect method."

Quizplus · Accepted Answer

The Answer of Statement of Cash Flows.  Additional Data:
1. Net income for the year amounted to $109,000.
2. Cash dividends were paid amounting to 4% of par value.
3. Land was sold for $120,000."
4. Sharp sold equipment, which cost $225,000 and had accumulated depreciation of $90,000, for $115,000.
InstructionsPrepare a statement of cash flows using the indirect method."