Probelem: points
The comperative balance sheet of Jones Enterprises Inc. at December and is as follows:
Additional data obtained from an examination of the accounts in the ledger for are as follows:
A The investments were sold for $ cash.
B Equipment and Land were acquired for cash.
C There were no disposal of equipment during the year.
D The Mortgage note payable was not due for six years but the terms permitted earlier pament without penalty.
E The common stock was issued for cash
There was a $ credit to retained earnings for net income.
There was a $ debit for Retained Earnings for cash dividend declared.
Instructions;
Prepare a statement of cash flows, using the indirect method of presenting cash flows.
