Laneway Cellular accountants have assembled the following data for the year ended September 30, 2024. Cash receipt
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Question:
Laneway Cellular accountants have assembled the following data for the year ended September 30, 2024.
Cash receipt from sale of land | $29,000 | Net income | $30,000 |
Depreciation expense | $7,000 | Cash purchase of equipment | $43,000 |
Cash payment of dividends | $5,600 | Decrease in current liabilities | $17,000 |
Cash receipt from Issuance of common stock | $16,000 | Increase in current assets other than cash | $11,000 |
Prepare Laneway Cellular's statement of cash flows using the indirect method for the year ended September 30, 2024. Assume beginning and ending Cash are $50,000 and $55,400; respectively.
Related Book For
Financial and Managerial Accounting
ISBN: 978-0132497978
3rd Edition
Authors: Horngren, Harrison, Oliver
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