question archive The following information was extracted from the accounting records of ABC Enterprises, Inc
The following information was extracted from the accounting records of ABC Enterprises, Inc
Subject:AnthropologyPrice: Bought3
The following information was extracted from the accounting records of ABC Enterprises, Inc.: a. Net income, $49,200 b. Depreciation on equipment, $3,600 c. Purchased long-term investments, $6,600 d. Sold property, plant, and equipment for $45,900 (amount includes a loss of $7,700) e. Issued long-term note payable to acquire equipment, $15,400 f. Payment on long-term note payable, $42,000 g. Issued common stock for cash, $5,100 h. Declared and paid cash dividend, $27,100 i. Bonds payable into common stock, $140,000Increases (decreases) in selected accounts were as follows: Accounts receivable (2,500)Interest receivable (800)Inventory 7,400Prepaid expenses 800Accounts payable 2,400Income tax payable (600)Accrued liabilities (1,400)Interest payable 900Salaries payable (1,710)December 31, 2014 cash was $51,400.Prepare the statement of cash flows, in proper format, on a separate sheet of paper, for ABC Enterprises for the year ended December 31, 2015, using the indirect method and including a schedule of noncash investing and financing activities, if necessary.
