Here are comparative balance sheets for Vaughn Company. Prepare a statement of cash flows-indirect method....
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Here are comparative balance sheets for Vaughn Company. Prepare a statement of cash flows-indirect method. 1. Net income for 2020 was $100,000. 2. Cash dividends of $33,000 were declared and paid. 3. Bonds payable amounting to $67,000 were redeemed for cash $67,000. 4. Common stock was issued for $48,000 cash. 5. Equipment that cost $50,000 and had a book value of $26,000 was sold for $38,000 during 2020 ; land was sold at cost. (a) Prepare a statement of cash flows for 2020 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).)
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Here are comparative balance sheets for Vaughn Company. Prepare a statement of cash flows-indirect method. 1. Net income for 2020 was $100,000. 2. Cash dividends of $33,000 were declared and paid. 3. Bonds payable amounting to $67,000 were redeemed for cash $67,000. 4. Common stock was issued for $48,000 cash. 5. Equipment that cost $50,000 and had a book value of $26,000 was sold for $38,000 during 2020 ; land was sold at cost. (a) Prepare a statement of cash flows for 2020 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).) 