Tanner Corporation Statement of Cash Flows
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Attached is information related to the operations of Tanner Corporation.
Additional information:
(a) In 2003, Tanner declared and paid a cash dividend.
(b) The company converted $100,000 of bonds into common stock.
(c) Equipment with a cost of $22,000 and a book value of $12,000 was sold for $9,000. Land was acquired for cash.
(d) Prepaid expenses pertain to operating expenses; accounts payable pertains to merchan-dise purchases.
Instructions: Solve either (a) or (b), but not both.
(a) Prepare a statement of cash flows in proper form for 2003, using the indirect method.
(b) Prepare a statement of cash flows in proper form for 2003, using the direct method
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Solution Summary
Excel attachment shows how to construct this statement of cash flows for a given corporation and how to pick the indirect or direct method of doing so.
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