Data for Ellis Corp. are presented in E22-13. In E Ellis Corp.s income statement for the year

Question:

Data for Ellis Corp. are presented in E22-13.
In E Ellis Corp.€™s income statement for the year ended December 31, 2011, had the following condensed information:

Instructions
Prepare the operating activities section of the statement of cash flows using the indirect method.

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Intermediate Accounting

ISBN: 978-0470161012

9th Canadian Edition, Volume 2

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.

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Question Posted: Aug 23, 2015 09:09 AM

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Data for Ellis Corp. are presented in E22-13. In E Ellis Corp.s income statement for the year

Question:

Revenue from fees Operating expenses (excluding depreciation) Depreciation expense Holding loss on temporary investments (FV-NI) Loss on sale of equipment Income before income taxes Income tax expense Net income $778,000 $499,000 66,000 4,000 14,000 583,000 195,000 61,000 $134,000

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Ellis Corp Partial Statement of Cash Flows Indirect Method For the Year Ended December 31 2011 Cash ...View the full answer

Intermediate Accounting

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