Alden Corporation's most recent comparative Balance Sheet is as follows: Alden's net income was $34,000. No equipment was purchased and no long-term investments were sold. There was a gain of $3,000 when equipment was sold. The accumulated depreciation on the equipment that was sold was $12,000. Cash dividends of $20,000 were declared and paid during the year.
Required:
Prepare Alden's statement of cash flows using the indirect method.

Question

Alden Corporation's most recent comparative Balance Sheet is as follows:  Alden's net income was $34,000. No equipment was purchased and no long-term investments were sold. There was a gain of $3,000 when equipment was sold. The accumulated depreciation on the equipment that was sold was $12,000. Cash dividends of $20,000 were declared and paid during the year.
Required:
Prepare Alden's statement of cash flows using the indirect method.

Quizplus · Accepted Answer

The Answer of Alden Corporation's most recent comparative Balance Sheet is as follows:  Alden's net income was $34,000. No equipment was purchased and no long-term investments were sold. There was a gain of $3,000 when equipment was sold. The accumulated depreciation on the equipment that was sold was $12,000. Cash dividends of $20,000 were declared and paid during the year.
Required:
Prepare Alden's statement of cash flows using the indirect method.

Alden Corporation's Most Recent Comparative Balance Sheet Is as Follows