Statement of Cash Flows Problem

Statement of Cash Flows Problem - Additional Information:...

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The following selected data were taken from the records of Jasper Corporation at December 31, 2006 and 2005, respectively. Balance Sheet Data: 2006 2005 Change Cash and Cash Equivalents $12,000 $15,000 Inventory 30,000 22,000 Land 25,000 30,000 Equipment 98,000 50,000 Accum. Depreciation-Equipment 20,000 16,000 Accounts Payable 28,000 22,000 Long-Term Notes Payable 38,000 25,000 Common Stock 50,000 40,000 Retained Earnings 29,000 14,000
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Unformatted text preview: Additional Information: Net Income for 2006 was $32,000. Cash dividends of $17,000 were paid during 2006. Equipment that cost $30,000 and had a book value of $25,000 was sold during 2006 for $27,000. Other equipment was purchased for cash. Land was sold for a $4,000 gain. Common stock was issued for $10,000 cash. Prepare a Statement of Cash Flows using the Indirect Method....
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This note was uploaded on 06/14/2011 for the course ACCT 225 taught by Professor Canace during the Fall '08 term at South Carolina.

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