Wednesday, May 31, 2017

Prepare a statement of cash flows using the indirect method of presenting cash flows from operating activities?

a. Net income, $332000
b. Depreciation reported on the income statement, $83400
c. Equipment purchased at a cost of $162800 and fully depreciated equipment costing $448-- was discarded, no salvage realized
d. The mortgage note payable was not due until 2018 but the terms permitted earlier payment without penalty
e, 10,000 shares of common stock were issued at $20 for cash
f. Cash dividends declared and paid, $153600 Prepare a statement of cash flows using the indirect method of presenting cash flows from operating activities

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