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Required information [The following information applies to the questions displayed below]
Golden Corporation's current year income statement, comparative balance sheets, and additional
information follow. For the year, (1) all sales are credit sales, (2) all credits to Accounts
Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, (4)
all debits to Accounts Payable reflect cash payments for inventory, and (5) any change in
Income-Taxes Payable reflects the accrual and cash payment of taxes: Additionel Information on
Current Year Transactiolis a. Purchased equipment for $59 , 700 cash. b. Issued 13,400 shares of
common stock for $5 cash per share. c. Declared and paid $103 , 000 in cash dividends.
Required: Prepare a complete statement of cash flows using the indirect method for the current
year. (Amounts to be deducte should be indicated with a minus sign.) GOLDEN
CORPORATION Statement of Cash Flows For Current Year Ended December 31 Cash flows
from operating activities Adjustments to reconcile net income to net cash provided by
operations: Income statement items not affecting cash Changes in current assets and current
liabilities Cash flows from financing activities: Net increase (decrease) in cash Cash balance at
December 31, prior year Cash balance at December 31 , current year begin{tabular}{|cc|} hline
& 0  hline $ & 0  hline $ & 0  hline end{tabular}

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Required information -The following information applies to the questio (20).pdf

  • 1. Required information [The following information applies to the questions displayed below] Golden Corporation's current year income statement, comparative balance sheets, and additional information follow. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, (4) all debits to Accounts Payable reflect cash payments for inventory, and (5) any change in Income-Taxes Payable reflects the accrual and cash payment of taxes: Additionel Information on Current Year Transactiolis a. Purchased equipment for $59 , 700 cash. b. Issued 13,400 shares of common stock for $5 cash per share. c. Declared and paid $103 , 000 in cash dividends. Required: Prepare a complete statement of cash flows using the indirect method for the current year. (Amounts to be deducte should be indicated with a minus sign.) GOLDEN CORPORATION Statement of Cash Flows For Current Year Ended December 31 Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operations: Income statement items not affecting cash Changes in current assets and current liabilities Cash flows from financing activities: Net increase (decrease) in cash Cash balance at December 31, prior year Cash balance at December 31 , current year begin{tabular}{|cc|} hline & 0 hline $ & 0 hline $ & 0 hline end{tabular}