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Trinity Coatings Company uses the indirect method to prepare its statement of cash flows. Refer to the following information for 2024: The beginning balance in the Cash account was $2,700. Net cash provided by operating activities: $41,500 Net cash used for investing activities: $(26,500) Net cash provided by financing activities: $1,700 The statement of cash flows will show

Trinity Coatings Company uses the indirect method to prepare its statement of cash flows. Refer to the following information for 2024: The beginning balance in the Cash account was $2,700. Net cash provided by operating activities: $41,500 Net cash used for investing activities: $(26,500) Net cash provided by financing activities: $1,700 The statement of cash flows will show

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Trinity Coatings Company uses the indirect method to prepare its statement of cash flows. Refer to the following information for 2024: The beginning balance in the Cash account was $2,700. Net cash provided by operating activities: $41,500 Net cash used for investing activities: $(26,500) Net cash provided by financing activities: $1,700 The statement of cash flows will show ending cash of $19,400 ending cash of $16,700 net cash used for operating activities $41,500 net cash provided by investing and financing activities $(16,700)
Transcribed Image Text:Trinity Coatings Company uses the indirect method to prepare its statement of cash flows. Refer to the following information for 2024: The beginning balance in the Cash account was $2,700. Net cash provided by operating activities: $41,500 Net cash used for investing activities: $(26,500) Net cash provided by financing activities: $1,700 The statement of cash flows will show ending cash of $19,400 ending cash of $16,700 net cash used for operating activities $41,500 net cash provided by investing and financing activities $(16,700)
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