Redbird Company Uses the Indirect Method to Prepare Its Statement

question 170

Essay

Redbird Company uses the indirect method to prepare its statement of cash flows.Using the following information,complete the worksheet for the year ended December 31,2018.
- Net Income for the year ended December 31,2018 was $49,000
- Depreciation expense for 2018 was $12,000
- During 2018,plant assets with a book value of $10,000 (cost $10,000 and accumulated depreciation $0)were sold for $14,000
- Plant assets were acquired for $52,000 cash
- Issued common stock for $28,000
- Issued long-term notes payable for $34,000
- Repaid long-term notes payable for $40,000
- Purchased treasury stock for 3,000
- Paid dividends of $10,000
Redbird Company

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Definitions:

EEOC

The Equal Employment Opportunity Commission, a federal agency that enforces laws against workplace discrimination.

Protected Category

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Part of the Civil Rights Act of 1964, prohibiting employment discrimination based on race, color, religion, sex, or national origin.

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