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Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger
Edition 6ISBN: 978-1305103962Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger
Edition 6ISBN: 978-1305103962 Exercise 16
Statement of Cash Flows
The following balance sheets were taken from the records of Blalock Company:
Additional transactions were as follows:
a. Sold equipment costing $12,000 with accumulated depreciation of $9,000 for $2,000.
b. Retired bonds at a price of $60,000 on December 31.
c. Earned net income for the year of $68,000; paid cash dividends of $20,000.
Refer to the information for Blalock Company above.
Required:
Prepare a statement of cash flows using the indirect method.
The following balance sheets were taken from the records of Blalock Company:
Additional transactions were as follows:
a. Sold equipment costing $12,000 with accumulated depreciation of $9,000 for $2,000.
b. Retired bonds at a price of $60,000 on December 31.
c. Earned net income for the year of $68,000; paid cash dividends of $20,000.
Refer to the information for Blalock Company above.
Required:
Prepare a statement of cash flows using the indirect method.
Explanation
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The indirect method of cash flow begins ...
Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger
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