Question

Ashley Limited, which follows ASPE, had the following information available at the end of 2011:
Instructions
(a) Prepare a statement of cash flows for Ashley Limited using the direct method, accompanied by all required disclosures and a schedule that reconciles net income to cash flow from operations.
(b) Does Ashley Limited have any options available for the classification of interest and dividends paid or received?
(c) Prepare a memo for top management that summarizes and comments on the cash activities of Ashley in 2011.
(d) Management wants to provide more captions (headings) in the section for cash flow from operating activities.
Recommend one additional caption that would help achieve this goal.


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  • CreatedAugust 23, 2015
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