ACC 560 MART Extraordinary Success/acc560mart.com ACC 560 MART Extraordinary Success/acc560mart.com | Page 69
Land
20,000 26,000
Buildings
70,000 70,000
Accumulated depreciation—buildings
(15,000)
(10,000)
________ _________
Total
$110,500 $120,100
Accounts payable
$12,370
$31,100
Common stock
75,000
69,000
Retained earnings
23,130
20,000
_________ _________
Total
$110,500 $120,100
Instructions
a. Prepare a statement of cash flows for 2017 using the indirect
method.