To prepare the statement of cash flows, accountants for Dartmouth Electric Company have summarized 2021 activity in

Question:

To prepare the statement of cash flows, accountants for Dartmouth Electric Company have summarized 2021 activity in two accounts:

Dartmouth Electric’s 2021 income statement and balance sheet data follow: 


Requirements 

1. Prepare the statement of cash flows of Dartmouth Electric for the year ended December 31, 2021, using the direct method to report operating activities. Also prepare the accompanying schedule of noncash investing and financing activities.

2. Use Dartmouth Electric’s 2021 income statement and information from its selected balance sheet data to prepare a supplementary schedule of cash flows from operating activities using the indirect method.

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Financial Accounting

ISBN: 9780136899037

13th Edition

Authors: C. William Thomas, Wendy M Tietz

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