A comparative balance sheet for Meyerson Industries is given below:

Additional data from the company's records were:
(a)On July 1,2014,exchanged 3,000 shares of common stock for equipment.
(b)On December 31,2014,paid cash dividends of $40,000 and income taxes of $10,000.
Prepare a cash flow statement for Meyerson Industries for the year ended December 31,2014,using the indirect method.Include any necessary supplemental disclosures.

Question

A comparative balance sheet for Meyerson Industries is given below:
  
Additional data from the company's records were:
(a)On July 1,2014,exchanged 3,000 shares of common stock for equipment.
(b)On December 31,2014,paid cash dividends of $40,000 and income taxes of $10,000.
Prepare a cash flow statement for Meyerson Industries for the year ended December 31,2014,using the indirect method.Include any necessary supplemental disclosures.

Quizplus · Accepted Answer

The Answer of A comparative balance sheet for Meyerson Industries is given below:
  
Additional data from the company's records were:
(a)On July 1,2014,exchanged 3,000 shares of common stock for equipment.
(b)On December 31,2014,paid cash dividends of $40,000 and income taxes of $10,000.
Prepare a cash flow statement for Meyerson Industries for the year ended December 31,2014,using the indirect method.Include any necessary supplemental disclosures.

A Comparative Balance Sheet for Meyerson Industries Is Given Below