Posted: March 7th, 2014
The following is a list of items for the 2007
The following is a list of items for the 2007 statement of cash flows of the Witts Company:
1. Receipt from sale of equipment, $2,700
2. Increase in inventory, $3,900
3. Net income, $13,500
4. Payment for purchase of building, $29,000
1. Receipt from sale of equipment, $2,700
2. Increase in inventory, $3,900
3. Net income, $13,500
4. Payment for purchase of building, $29,000
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5. Depreciation expense, $8,700
6. Receipt from issuance of bonds, $8,000
7. Increase in prepaid expenses, $800
8. Loss on sale of equipment, $2,200
9. Payment of dividends, $5,200
10. Decrease in accounts receivable, $1,700
11. Issuance of common stock for land, $6,900
12. Decrease in accounts payable, $1,500
13. Beginning cash balance, $10,200
Required
Prepare the statement of cash flows.
5. Depreciation expense, $8,700
6. Receipt from issuance of bonds, $8,000
7. Increase in prepaid expenses, $800
8. Loss on sale of equipment, $2,200
9. Payment of dividends, $5,200
10. Decrease in accounts receivable, $1,700
11. Issuance of common stock for land, $6,900
12. Decrease in accounts payable, $1,500
13. Beginning cash balance, $10,200
Required
Prepare the statement of cash flows.
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