it is wanting a full statement of cashflows SHERIDAN COMPANY Comparative Balance Sheets December...
60.1K
Verified Solution
Link Copied!
Question
Accounting
it is wanting a full statement of cashflows
SHERIDAN COMPANY Comparative Balance Sheets December 31 Assets 2022 2021 Cash $ 83,220 $ 25,080 Accounts receivable 99,180 86,640 Inventories 193,800 217,740 Land 82,080 114,000 Equipment 296,400 228,000 Accumulated depreciation (75,240) (36,480) Total $679,440 $634,980 Liabilities and Stockholders' Equity Accounts payable $ 42,180 $53,580 Bonds payable 171,000 239,400 Common stock ($1 par) 246,240 198,360 Retained earnings 220,020 143,640 Total $679,440 $634,980 Additional information: 1. Net income for 2022 was $114,000. 2. Cash dividends of $37,620 were declared and paid. 3. Bonds payable amounting to $68,400 were redeemed for cash $68,400. 4. Common stock was issued for $47,880 cash. 5. Equipment that cost $57,000 and had a book value of $34,200 was sold for $41,040 during 2022; land was sold at cost. Prepare a statement of cash flows for 2022 using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g.-15,000 or in parenthesis e.g. (15,000).) SHERIDAN COMPANY Statement of Cash Flows . $ Adjustments to reconcile net income to . $
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
it is wanting a full statement of cashflows