Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN: 9781337788281
Author: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher: Cengage Learning
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Textbook Question
Chapter 21, Problem 17P
(Appendix 21.1) Comprehensive The following are Adair Company’s December 31, 2018, post-closing
A review of the accounting records reveals the following additional information for 2019:
- Investments in bonds to be held to maturity were purchased at year-end for $8,600.
- A building was purchased for $28,000.
- A note payable was issued for $9,000.
- Common stock was issued for $14,500.
- Dividends of $6,500 were declared and paid.
Required:
- 1. Using the direct method for operating
cash flows , prepare a spreadsheet to support the 2019 statement of cash flows for Adair. - 2. Prepare the statement of cash flows. (A separate schedule reconciling net income to cash provided by operating activities is not necessary.)
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Chapter 21 Solutions
Intermediate Accounting: Reporting And Analysis
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