AC 311 Study Guide - Final Guide: Retained Earnings, Common Stock, Cash Flow

• School: University of Alabama
• Department: Accountancy
• Course: AC 311
• Professor: Fitz

Document Summary

Prepare k2"s 2015 statement of cash flow (indirect method), using the information below. Disclose all relevant supplemental information at the bottom of the statement. On 1/2/15, k2 sold equipment with a book value of ,000 for ,000 in cash. On 3/5/15, k2 paid ,000 in cash to purchase new equipment. On 12/31/15, k2 purchased ,000 of additional equipment by issuing a. On 1/1/15, k2 paid million to acquire a 30% interest in lange corp, which gave k2 significant influence over lange. For 2015, lange reported total net income of ,000. Lange declared and paid ,000 in total dividends in.