Question

This exercise continues the accounting for Lydon’s Yard Care, Inc., from the Continuing Exercise in Chapter 10. Assume that Lydon’s Yard Care, Inc., had the following comparative balance sheet at the end of 2013, its second year of operations.


Requirement
1. Prepare the statement of cash flows for Lydon’s Yard Care, Inc., for the year ending December 31, 2013 using the indirect method. The following additional information applies to 2013:
■ Common stock was issued at par value.
■ No dividends were declared or paid during the year.
■ No equipment was sold during the year and all purchases of equipment were forcash.


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  • CreatedApril 29, 2014
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