Business, 30.05.2020 21:57, Serenitybella
Additional Data: a. Bought equipment for cash, $17,000. b. Paid $5,200 on the long-term note payable. c. Issued new shares of stock for $12,000 cash. d. No dividends were declared or paid. e. Other expenses included depreciation, $4,200; Salaries and wages, $19,200; taxes, $5,200; utilities, $6,000. f. Accounts Payable includes only inventory purchases made on credit. Because there are no liability accounts relating to taxes or other expenses, assume that these expenses were fully paid in cash. Required: 1. Prepare the statement of cash flows for the current year ended December 31 using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)
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Additional Data: a. Bought equipment for cash, $17,000. b. Paid $5,200 on the long-term note payable...
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