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P16-33-Johnson, Inc. - cash flow statement

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Question;P16-33-Johnson, Inc. - cash flow statement;Accountants for Johnson, Inc. have assembled the following data for the;year ended December 31, 2015;2015 2014;Current;Assets;Cash $92,100 $17,000;Accounts;Receivable 64,500 69,200;Merchandise;Inventory 87,000 80,000;Current;Liabilities;Accounts;Payable $57,900 $56,200;Income;Tax Payable 14,400 17,100;Transaction Data for 2015;Issuance of common stock for cash $40,000;Depreciation expense 25,000;Purchase of equipment with cash 75,000;Acquisition of land by issuing;long-term note payable 122,000;Book value of building sold 53,000;Payment of notes payable $48,100;Payment of cash dividends 54,000;Issuance of note payable to;borrow cash 67,000;Gain on sale of building 5,500;Net Income;70,500;Assignment: Prepare Johnson?s statement;of cash flows using the indirect method. Include an accompanying schedule of;non-cash investing and financing activities.

 

Paper#37581 | Written in 18-Jul-2015

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