Question

The following is the financial information for TinTing School Supplies, Ltd.:
Additional information:
1. Store equipment was purchased by signing a two-year long-term note payable.
2. Additional bank loan was borrowed as a partial payment for the purchase of delivery trucks.
3. TinTing declared and paid dividends on December 28, 2014.
4. TinTing’s net income was $11,820.
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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