Question

To prepare the statement of cash flows, accountants for Tri-State Electric Company have summarized 2014 activity in two accounts:


Tri-State Electric’s 2014 income statement and balance sheet data follow:


Tri-State Electric Company
Selected Balance Sheet Data
December 31, 2014


Requirements
1. Prepare the statement of cash flows of Tri-State Electric Company for the year ended December 31, 2014, using the direct method to report operating activities. Also prepare the accompanying schedule of noncash investing and financing activities.
2. Use Tri-State Electric’s 2014 income statement and balance sheet to prepare a supplementary schedule of cash flows from operating activities by using the indirectmethod.


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  • CreatedJuly 25, 2014
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