7-boswell_case - of $27,000 were declared in December 2005,...

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BOSWELL MAXELL MANUFACTURING COMPANY Following is information for Boswell Manufacturing Company: (a) Long-term debt of $450,000 was retired at face value. (b) New machinery was purchased for $48,000. (c) Common stock with a par value of $120,000 was issued for $150,000. (d) Dividends of $18,000 declared in 2004 were paid in January 2005, and dividends
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Unformatted text preview: of $27,000 were declared in December 2005, to be paid in 2006. (e) Net income was $320,800. Included in the computation were depreciation expense of $60,000 and intangible assets amortization of $30,000. Prepare a statement of cash flows for the year ended December 31, 2005, using the indirect method....
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This note was uploaded on 05/04/2008 for the course ACCT 3320 taught by Professor Frankzhang during the Summer '06 term at University of Texas at Dallas, Richardson.

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