Presented below are data taken from the records of Vaughn Company. December 31, 2017 December 31,...

Presented below are data taken from the records of Vaughn Company. December 31, 2017 December 31, 2016 Cash $15,100 $8,100 Current assets other than cash 85,300 60,300 Long-term investments 10,000 53,000 Plant assets 337,500 213,900 $447,900 $335,300 Accumulated depreciation $20,000 $40,400 Current liabilities 40,400 21,900 Bonds payable 74,600 –0– Common stock 253,700 253,700 Retained earnings 59,200 19,300 $447,900 $335,300 Additional information: 1. Held-to-maturity securities carried at a cost of $43,000 on December 31, 2016, were sold in 2017 for $33,700. The loss (not unusual) was incorrectly charged directly to Retained Earnings. 2. Plant assets that cost $49,900 and were 80% depreciated were sold during 2017 for $7,900. The loss was incorrectly charged directly to Retained Earnings. 3. Net income as reported on the income statement for the year was $56,800. 4. Dividends paid amounted to $5,520. 5. Depreciation charged for the year was $19,520. Prepare a statement of cash flows for the year 2017 using the indirect method.

Expert Solution

ekkarill92 answered 8 months ago

Presented below are data taken from the records of Sandhill Company. December 31, 2017 December 31,...

Presented below are data taken from the records of Sandhill Company. December 31, 2017 December 31, 2016 Cash $15,000 $8,000 Current assets other than cash 84,500 59,900 Long-term investments 10,000 52,800 Plant assets 335,600 217,200 $445,100 $337,900 Accumulated depreciation $20,200 $39,700 Current liabilities 39,600 21,800 Bonds payable 75,600 –0– Common stock 253,300 253,300 Retained earnings 56,400 23,100 $445,100 $337,900 Additional information: 1. Held-to-maturity securities carried at a cost of $42,800 on December 31, 2016, were sold in 2017 for $34,000....

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Exercise 23-15 Presented below are data taken from the records of Oriole Company. December 31, 2020...

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The following data were taken from the records of Vaughn Company for the fiscal year ended...

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