Here are comparative balance sheets for Bonita Company. Prepare a statement of cash flows-indirect method....
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Here are comparative balance sheets for Bonita Company. Prepare a statement of cash flows-indirect method. Additional information: 1. Net income for 2020 was $101,000. 2. Cash dividends of $34,000 were declared and paid. 3. Bonds payable amounting to $61,000 were redeemed for cash $61,000. 4. Common stock was issued for $39,000 cash. 5. Equipment that cost $50,000 and had a book value of $30,000 was sold for $35,000 during 2020 ; land was sold at cost. Bonita COMPANY Statement of Cash Flows For the Year Ended December 31, 2020 Cash Flows from Operating Activities Net Income $ Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense $ Gain on Disposal of Equipment Increase in Inventory Decrease in Accounts Receivable Decrease in Accounts Payable Net Cash Used by Operating Activities Cash Flows from Investing Activities Issuance of Common Stock Net Cash Used by Financing Activities Net Decrease in Cash Cash at Beginning of Period Cash at End of Period
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Here are comparative balance sheets for Bonita Company. Prepare a statement of cash flows-indirect method. Additional information: 1. Net income for 2020 was $101,000. 2. Cash dividends of $34,000 were declared and paid. 3. Bonds payable amounting to $61,000 were redeemed for cash $61,000. 4. Common stock was issued for $39,000 cash. 5. Equipment that cost $50,000 and had a book value of $30,000 was sold for $35,000 during 2020 ; land was sold at cost. Bonita COMPANY Statement of Cash Flows For the Year Ended December 31, 2020 Cash Flows from Operating Activities Net Income $ Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense $ Gain on Disposal of Equipment Increase in Inventory Decrease in Accounts Receivable Decrease in Accounts Payable Net Cash Used by Operating Activities Cash Flows from Investing Activities Issuance of Common Stock Net Cash Used by Financing Activities Net Decrease in Cash Cash at Beginning of Period Cash at End of Period 