Bundle: Managerial Accounting, 14th + Cengagenowv2, 1 Term Printed Access Card
Bundle: Managerial Accounting, 14th + Cengagenowv2, 1 Term Printed Access Card
14th Edition
ISBN: 9781337499989
Author: Carl Warren, James M. Reeve, Jonathan Duchac
Publisher: Cengage Learning
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Chapter 13, Problem 5PA

Statement of cash flows–direct method applied to PR 13-1A

The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is as follows:

Chapter 13, Problem 5PA, Statement of cash flowsdirect method applied to PR 13-1A The comparative balance sheet of Livers

Additional data obtained from an examination of the accounts in the ledger for 20Y3 are as follows:

  1. A. The investments were sold for $175,000 cash.
  2. B. Equipment and land were acquired for cash.
  3. C. There were no disposals of equipment during the year.
  4. D. The common stock was issued for cash.
  5. E. There was a $90,000 debit to Retained Earnings for cash dividends declared.

Instructions

Prepare a statement of cash flows, using the direct method of presenting cash flows from operating activities.

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