The Comparative Balance Sheet of ConnieJo Company, for December 31

question 42

Essay

The comparative balance sheet of ConnieJo Company, for December 31, Years 1 and 2 ended December 31 appears below in condensed form:
Additional data for the current year are as follows:
a Fully depreciated equipment costing $39,000 was scrapped, no salvage, and equipment was purchased for $157,000.
b Bonds payable for $100,000 were retired by payment at their face amount.
c 5,000 shares of common stock were issued at $15 for cash.
d Cash dividends declared were paid $28,000.
e All sales are on account.
Prepare a statement of cash flows, using the direct method of reporting cash flows from operating activities.

---

Definitions:

British Columbia

A province located on the western coast of Canada, known for its natural beauty and diverse landscapes.

Infant

A legally defined term for a child or a person who is not yet at the age of majority, typically considered to be under 18 years old.

Contract

A legally binding agreement between two or more parties that outlines the terms and conditions of their relationship or transaction.

Parents

Biological, step, or adoptive guardians who bear responsibility for raising and caring for children.