1. Business
  2. Accounting
  3. help me fill in the blanks prepare a statement of...

Question: help me fill in the blanks prepare a statement of...

Question details

ROJAS CORPORATION Comparative Balance Sheets December 31 2020 2019 Cash Accounts receivable Land Buildings Accumulated depreciation-buildings $10,700 23,800 26,300 70,100 (10,700) $14,500 20,800 19,600 70,100 (15,000) Total $110,000 $120,200 Accounts payable Common stock Retained earnings $11,800 75,000 23,200 $110,000 $28,300 73,400 18,500 $120,200 Total Additional information 1. Net income was $22,800. Dividends declared and paid were $18,100 2. No noncash investing and financing activities occurred during 2020 3. The land was sold for cash of $4,600

Prepare a statement of cash flows for 2020 using the indirect method. (Show amounts that decrease cash flow ROJAS CORPORATION Statement of Cash Flows For the Year Ended December 31, 2020 V Cash Flows from Operating Activities Net Income 22,800 Adjustments to reconcile net income to Depreciation Expense 4300 Decrease in Accounts Receivable V 3000 Loss on Disposal of Plant Assets 20800 Decrease in Accounts Payable -16500 Net Cash Provided by Operating Activities

Cash Flows from Investing Activities Sale of Land 4600 Cash Flows from Financing ActivitiesV Issuance of Common Stock 75000 Payment of Dividends Net Cash Used by Financing Activities Net Increase in Cash Cash at Beginning of Period Cash at End of Period

Help me fill in the blanks! Prepare a statement of cash flows using the indirect method.

Solution by an expert tutor
Blurred Solution
This question has been solved
Subscribe to see this solution