Question

Required Use the VicWest Inc. information given below to prepare a statement of cash flows for the year ended June 30, 2014, using the indirect method.
a. A note is retired at carrying value.
b. The only changes affecting retained earnings during 2014 are net income and cash dividends paid.
c. New equipment is acquired during 2014 for $70,320.
d. The gain on sale of equipment costing $58,320 during 2014 is $2,400.
e. Prepaid expenses and wages expense affect other expenses on the income statement.
f. All sales and purchases of merchandise were oncredit.


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  • CreatedJanuary 08, 2015
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