Data from the comparative balance sheet of Sterling Company at March 31, 2012, follow: Sterling Companys transactions
Question:
Sterling Companys transactions during the year ended March 31, 2012, included the following:
Requirements
1. Prepare Sterling Companys statement of cash flows for the year ended March 31, 2012, using the indirect method to report cash flows from operating activities.
2. Evaluate Sterlings cash flows for the year. Mention all three categories of cash flows and give the reason for yourevaluation.
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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