Statement of cash flows; indirect method
Refer to the data provided in the P21–5 for Metagrobolize Industries.
Required:
Prepare the statement of cash flows for Metagrobolize Industries using the indirect method.
P21–5
Statement of cash flows; direct method
Comparative balance sheets for 2016 and 2015 and a statement of income for 2016 are given below for Metagrobolize Industries. Additional information from the accounting records of Metagrobolize also is provided.
Additional information from the accounting records:
a. During 2016, equipment with a cost of $300,000 (90% depreciated) was sold.
b. The statement of shareholders’ equity reveals reductions of $225,000 and $450,000 for stock dividends and cash dividends, respectively.
Required:
Prepare the statement of cash flows of Metagrobolize for the year ended December 31, 2016. Present cash flows from operating activities by the direct method. (You may omit the schedule to reconcile net income to cash flows from operating activities.)
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Answers
Status NEW
Posted 23 Apr 2017 03:04 PM
My Price 10.00
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Attachments
file 1492961909-252437_1_636283815920963087_252437.xlsx preview (78 words )
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