The Following Information for Wilbur Company Is Available at December

question 2

Essay

The following information for Wilbur Company is available at December 31, 2011, and for the year then ending:

The following information is available for specific accounts and transactions:
1. On February 2, 2011, Wilbur issued a 10 percent stock dividend to shareholders of record on January 15, 2011. Market price per share of the common stock on February 2, 2011, was $15.
2. On March 1, 2011, Wilbur issued 3,800 shares of common stock for land. The common stock had a current market value of approximately $40,000 on March 1, 2011.
3. On April 15, 2011, Wilbur repurchased its long-term bonds payable with a face value of $50,000 for cash.
4. On June 30, 2011, Wilbur sold for $19,000 cash equipment having a book value of $23,000 and an original cost of $53,000.
5. On September 30, 2011, Wilbur declared and paid a 4 cent per share cash dividend to shareholders of record on August 1, 2011.
6. On October 1, 2011, Wilbur purchased land for $85,000 cash.
Required:
Prepare a statement of cash flows for Wilbur Company for the year ending December 31, 2011, using the indirect method.

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Definitions:

Plate Boundary

The edges where two tectonic plates meet, which can be categorized into convergent, divergent, or transform boundaries based on their movement relative to each other.

Spreading Center

Divergent boundary where two oceanic plates move apart (diverge).

Transform Fault

A geological fault where the movement of the Earth's crust is predominantly horizontal, often leading to earthquakes in these regions.

Subduction Zone

A region of the Earth's crust where one tectonic plate moves under another, often associated with volcanic activity and earthquakes.