Question

The financial statements for Fardy Limited are shown below:


During the year, the company purchased a capital asset valued at $ 10,000; payment was made by issuing common shares. Additional capital assets were acquired for cash. Changes in other accounts were typical transactions.

Required:
1. Prepare the SCF using the indirect method. Include required note disclosure of non- cash transactions. Omit the separate disclosure of cash flow for interest, investment income, and income tax.
2. Explain the company’s cash transactions for the year, based on theSCF.


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  • CreatedFebruary 17, 2015
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