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(Solution) - The following balances are available for Madison Company Bonds were issued

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The following balances are available for Madison Company:

Bonds were issued during 2012 at face value, and plant and equipment were acquired for cash. Depreciation expense for the year was $50,000. A net loss of $21,800 was reported.
1. Prepare a statement of cash flows for 2012 using the indirect method in the Operating Activities section.
2. Briefly explain how Madison was able to increase its cash balance during a year in which it incurred a net loss.


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This question was answered on: Jul 11, 2017

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