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The following information is for RedwoodInc. for the year ended December 31, 2021. Redwood had a balance for cash and cash equivalents of $4,200 on January1, 2021. Cash Received from: Customers Interest on investments Sale of land Issuance of common stock Issuance of debt securities Cash Paid for: Interest on debt Income tax Debt principal reduction Purchase of equipment Purchase of inventory $ 2,100 Operating expenses 300 200 800 2,200 400 70 1,700 3,100 1,000 Dividends on common stock 300 600 Required: Prepare a statement of cash flows for the year using the direct method for operating activities. (Amounts to be deducted should be indicated with a minus sign.)

The following information is for RedwoodInc. for the year ended December 31, 2021. Redwood had a balance for cash and cash equivalents of $4,200 on January1, 2021. Cash Received from: Customers Interest on investments Sale of land Issuance of common stock Issuance of debt securities Cash Paid for: Interest on debt Income tax Debt principal reduction Purchase of equipment Purchase of inventory $ 2,100 Operating expenses 300 200 800 2,200 400 70 1,700 3,100 1,000 Dividends on common stock 300 600 Required: Prepare a statement of cash flows for the year using the direct method for operating activities. (Amounts to be deducted should be indicated with a minus sign.)

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter21: The Statement Of Cash Flows
Section: Chapter Questions
Problem 15GI: Jordan Company recognized a 5,000 unrealized holding gain on investment in Starbuckss common stock...
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The following information is for RedwoodInc. for the year ended December 31, 2021. Redwood had a balance for cash and cash equivalents of $4,200 on January1, 2021. Cash Received from: Customers Interest on investments Sale of land Issuance of common stock Issuance of debt securities Cash Paid for: Interest on debt. Income tax Debt principal reduction Purchase of equipment Purchase of inventory $ 2,100 Operating expenses 300 200 800 2,200 400 70 1,700 3.100 1,000 Dividends on common stock 300 600 Required: Prepare a statement of cash flows for the year using the direct method for operating activities. (Amounts to be deducted should be indicated with a minus sign.)
Transcribed Image Text:The following information is for RedwoodInc. for the year ended December 31, 2021. Redwood had a balance for cash and cash equivalents of $4,200 on January1, 2021. Cash Received from: Customers Interest on investments Sale of land Issuance of common stock Issuance of debt securities Cash Paid for: Interest on debt. Income tax Debt principal reduction Purchase of equipment Purchase of inventory $ 2,100 Operating expenses 300 200 800 2,200 400 70 1,700 3.100 1,000 Dividends on common stock 300 600 Required: Prepare a statement of cash flows for the year using the direct method for operating activities. (Amounts to be deducted should be indicated with a minus sign.)
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