ch23 - Major repairs of $33,000 to the equipment were...

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Name: __________________________ Problem chapter 23 Page 1
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1. Statement of cash flows (indirect method). The net changes in the balance sheet accounts of Windsor Corporation for the year 2008 are shown below. 1. On January 2, 2008 short-term investments (classified as available-for-sale) costing $121,000 were sold for $155,000. 2. The company paid a cash dividend on February 1, 2008. 3. Accounts receivable of $16,200 and $19,400 were considered uncollectible and written off in 2008 and 2007, respectively. 4.
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Unformatted text preview: Major repairs of $33,000 to the equipment were debited to the Accumulated Depreciation account during the year. No assets were retired during 2008. 5. The wholly owned subsidiary reported a net loss for the year of $20,000. The loss was recorded by the parent. 6. At January 1, 2008, the cash balance was $166,000. Instructions Prepare a statement of cash flows (indirect method) for the year ended December 31, 2008. Windsor Corporation has no securities which are classified as cash equivalents....
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ch23 - Major repairs of $33,000 to the equipment were...

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