The comparative balance sheets for Jellystone Park Corporation appear below: Additional information:
1. Profit for the year ending December 31, 2021 was $ 20,000.
2. Cash dividends of $ 12,000 were declared and paid during the year.
3. Long-term investments in bonds that had an amortized cost of $ 18,000 were sold for $ 16,000.
Instructions
Prepare a cash flow statement for the year ended December 31, 2021, using the indirect method.

Question

The comparative balance sheets for Jellystone Park Corporation appear below:  Additional information:
1. Profit for the year ending December 31, 2021 was $ 20,000.
2. Cash dividends of $ 12,000 were declared and paid during the year.
3. Long-term investments in bonds that had an amortized cost of $ 18,000 were sold for $ 16,000.
Instructions
Prepare a cash flow statement for the year ended December 31, 2021, using the indirect method.

Quizplus · Accepted Answer

The Answer of The comparative balance sheets for Jellystone Park Corporation appear below:  Additional information:
1. Profit for the year ending December 31, 2021 was $ 20,000.
2. Cash dividends of $ 12,000 were declared and paid during the year.
3. Long-term investments in bonds that had an amortized cost of $ 18,000 were sold for $ 16,000.
Instructions
Prepare a cash flow statement for the year ended December 31, 2021, using the indirect method.

The Comparative Balance Sheets for Jellystone Park Corporation Appear Below