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Based on the information given below, prepare the Statement of Cash Flows for Clay Company for the year ended December 31, 2019, using the indirect method. Clay Company Comparative Balance Sheets 31/12/2019 31/12/2018 $ 33,250 $ 20,000 Cash Accounts receivable 80,000 58,000 Inventory 210,000 250,000 Prepaid expenses 9,000 7,000 Plant assets 600,000 502,000 Accumulated depreciation (150,000) (125,000) Total assets $ 782,250 $ 712,000 Accounts payable $ 123,000 $ 115,000 Salaries payable 47,250 72,000 Interest payable 27,000 25,000 Bonds payable 70,000 100,000 Common stock, $ 10 par 370,000 280,000 Retained earnings 145,000 120,000 Tot. liabilities and stockholders'eg. $ 782,250 $ 712,000 Additional information about transactions that occured during 2019: 1. Plant assets costing $98,000 were purchased by paying $48,000 in cash and issuing 5,00 shares of stock. 2. Income taxes of $43,000 were paid in full. 3. In order to supplement cash, Clay Company issued 4,000 shares of common stock at par value. 1. Cash dividends of $105,000 were declared and paid at the end of the fiscal year.

Based on the information given below, prepare the Statement of Cash Flows for Clay Company for the year ended December 31, 2019, using the indirect method. Clay Company Comparative Balance Sheets 31/12/2019 31/12/2018 $ 33,250 $ 20,000 Cash Accounts receivable 80,000 58,000 Inventory 210,000 250,000 Prepaid expenses 9,000 7,000 Plant assets 600,000 502,000 Accumulated depreciation (150,000) (125,000) Total assets $ 782,250 $ 712,000 Accounts payable $ 123,000 $ 115,000 Salaries payable 47,250 72,000 Interest payable 27,000 25,000 Bonds payable 70,000 100,000 Common stock, $ 10 par 370,000 280,000 Retained earnings 145,000 120,000 Tot. liabilities and stockholders'eg. $ 782,250 $ 712,000 Additional information about transactions that occured during 2019: 1. Plant assets costing $98,000 were purchased by paying $48,000 in cash and issuing 5,00 shares of stock. 2. Income taxes of $43,000 were paid in full. 3. In order to supplement cash, Clay Company issued 4,000 shares of common stock at par value. 1. Cash dividends of $105,000 were declared and paid at the end of the fiscal year.

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
Section: Chapter Questions
Problem 55PSB: Preparing a Statement of Cash Flows Volusia Company reported the following comparative balance...
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Based on the information given below, prepare the Statement of Cash Flows for Clay Company for the year ended December 31, 2019, using the indirect method.

Additional information about transactions that occured during 2019:

  1. Plant assets costing $98,000 were purchased by paying $48,000 in cash and issuing 5,000 shares of stock.
  2. Income taxes of $43,000 were paid in full.
  3. In order to supplement cash, Clay Company issued 4,000 shares of common stock at par value.
  4. Cash dividends of $105,000 were declared and paid at the end of the fiscal year.
Based on the information given below, prepare the Statement of Cash Flows for Clay www.ur Company for the year ended December 31, 2019, using the indirect method. Clay Company Comparative Balance Sheets 31/12/2019 31/12/2018 $ 33,250 $ $ 20,000 Cash Accounts receivable 80,000 58,000 wwwww Inventory 210,000 250,000 Prepaid expenses 9,000 7,000 Plant assets www. 600,000 502,000 Accumulated depreciation (150,000) (125,000) Total assets $ 782,250 $ 712,000 Accounts payable $ 123,000 $ 115,000 Salaries payable 47,250 72,000 Interest payable 27,000 25,000 Bonds payable 70,000 100,000 Common stock, $ 10 par 370,000 280,000 Retained earnings 145,000 120,000 Tot. liabilities and stockholders'eg. $ 782,250 $ 712,000 Additional information about transactions that occured during 2019: 1. Plant assets costing $98,000 were purchased by paying $48,000 in cash and issuing 5,000 shares of stock. 2. Income taxes of $43,000 were paid in full. 3. In order to supplement cash, Clay Company issued 4,000 shares of common stock at par www value. 4. Cash dividends of $105,000 were declared and paid at the end of the fiscal year. w w w m w www w
Transcribed Image Text:Based on the information given below, prepare the Statement of Cash Flows for Clay www.ur Company for the year ended December 31, 2019, using the indirect method. Clay Company Comparative Balance Sheets 31/12/2019 31/12/2018 $ 33,250 $ $ 20,000 Cash Accounts receivable 80,000 58,000 wwwww Inventory 210,000 250,000 Prepaid expenses 9,000 7,000 Plant assets www. 600,000 502,000 Accumulated depreciation (150,000) (125,000) Total assets $ 782,250 $ 712,000 Accounts payable $ 123,000 $ 115,000 Salaries payable 47,250 72,000 Interest payable 27,000 25,000 Bonds payable 70,000 100,000 Common stock, $ 10 par 370,000 280,000 Retained earnings 145,000 120,000 Tot. liabilities and stockholders'eg. $ 782,250 $ 712,000 Additional information about transactions that occured during 2019: 1. Plant assets costing $98,000 were purchased by paying $48,000 in cash and issuing 5,000 shares of stock. 2. Income taxes of $43,000 were paid in full. 3. In order to supplement cash, Clay Company issued 4,000 shares of common stock at par www value. 4. Cash dividends of $105,000 were declared and paid at the end of the fiscal year. w w w m w www w
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