Patterson,Inc.,has the following comparative balance sheets and income statement available for your examination:

Additional information:
1.Fully depreciated equipment costing $6,000 was abandoned on the first day of business of 2014.
2.A building to store materials was acquired for $26,000.
3.A stock dividend of $20,000 was declared and distributed,as was a cash dividend of $8,000.
4.Additional stock was sold during 2014 for cash.
Prepare a statement of cash flows for Patterson,Inc.,for 2014 employing the indirect
method of identifying cash flows from operating activities.

Question

Patterson,Inc.,has the following comparative balance sheets and income statement available for your examination:

Additional information:
1.Fully depreciated equipment costing $6,000 was abandoned on the first day of business of 2014.
2.A building to store materials was acquired for $26,000.
3.A stock dividend of $20,000 was declared and distributed,as was a cash dividend of $8,000.
4.Additional stock was sold during 2014 for cash.
Prepare a statement of cash flows for Patterson,Inc.,for 2014 employing the indirect
method of identifying cash flows from operating activities.

Quizplus · Accepted Answer

The Answer of Patterson,Inc.,has the following comparative balance sheets and income statement available for your examination:

Additional information:
1.Fully depreciated equipment costing $6,000 was abandoned on the first day of business of 2014.
2.A building to store materials was acquired for $26,000.
3.A stock dividend of $20,000 was declared and distributed,as was a cash dividend of $8,000.
4.Additional stock was sold during 2014 for cash.
Prepare a statement of cash flows for Patterson,Inc.,for 2014 employing the indirect
method of identifying cash flows from operating activities.