Financial statement data for Metro Moving Company for 2020 follow. Additional information: 1. Vehicles that cost $65,000
Question:
Financial statement data for Metro Moving Company for 2020 follow.
Additional information:
1. Vehicles that cost $65,000 and had a net carrying amount of $10,000 were sold for $14,000.
2. A cash payment was made to reduce the bank loan.
3. Dividends were declared and paid during the year.
Required
a. Prepare a statement of cash flows for Metro Moving Company for the year ended December 31, 2020, using the indirect method.
b. Determine the cash flows from operating activities using the direct method.
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a Metro Moving Company Statement of Cash Flows Indirect Method For the Year Ended December 31 2020 Cash Flows from Operating Activities Net Income 152...View the full answer
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Related Book For 
Understanding Financial Accounting
ISBN: 9781119406921
2nd Canadian Edition
Authors: Christopher D. Burnley
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