Question

The following is the financial information for Shine Hair Supplies, Ltd.:
Additional information:
1. Store equipment was purchased by signing a two-year long-term note payable.
2. Additional bank loan of $35,000 was obtained for the purchase of delivery trucks.
3. Shine Hair declared and paid dividends on December 24, 2014.
Requirements
1. Identify source and use of cash for each account in the Balance Sheet.
2. Prepare a cash flow statement, using the indirect method.
3. Prepare the cash flow from operating activities section by using the direct method.


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  • CreatedJuly 08, 2015
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