Refer to all of the facts in Problem 12-6. Required 1. Prepare a statement of cash flows
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1. Prepare a statement of cash flows for 2012 using the indirect method in the Operating Activities section.
2. On the basis of your statement in part (1), draft a brief memo to the president to explain why cash increased during such an unprofitable year. Include in your memo your recommendations for improving the company's bottom line.
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1 Changes in account balances and explanations in thousands of dollars Net Change Explanation Cash 15 Accounts receivable 25 Inventory 50 Prepayments 10 Land 75 Purchase c Plant and equipment 70 Purch...View the full answer
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Related Book For
Using Financial Accounting Information The Alternative to Debits and Credits
ISBN: 978-1111534912
8th edition
Authors: Gary A. Porter, Curtis L. Norton
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