On January 1, 2023, Santos, Inc. issued 6,000 Common Stock for $15.00/sh. On December 1, 2023 cash dividends in the amount of $2/ share were declared and paid Equipment which cost $120,000 and had a book value of $48,000 was sold for $42,000. Sold patents with a book value of $9,000 for $12,500 cash. Issued Bonds on December 31, 2023. Purchased new equipment. Instructions:
(a) From the information above, prepare a statement of cash flows (indirect method) for Santos, Inc. for the year ended December 31, 2023.
(b) From the information above, prepare a schedule of cash provided by operating activities using the direct method.

Question

08-08-2024
Business

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On January 1, 2023, Santos, Inc. issued 6,000 Common Stock for $15.00/sh. On December 1, 2023 cash dividends in the amount of $2/ share were declared and paid Equipment which cost $120,000 and had a book value of $48,000 was sold for $42,000. Sold patents with a book value of $9,000 for $12,500 cash. Issued Bonds on December 31, 2023. Purchased new equipment. Instructions:
(a) From the information above, prepare a statement of cash flows (indirect method) for Santos, Inc. for the year ended December 31, 2023.
(b) From the information above, prepare a schedule of cash provided by operating activities using the direct method.

Sagot :

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