Yoric Company listed the net changes in its balance sheet accounts for the past year as follows:

The following additional information is available about last year’s activities:
a. Net income for the year was $ __________ ? __________.
b. The company sold equipment during the year for $ 15,000. The equipment originally cost $ 50,000 and it had $ 37,000 in accumulated depreciation at the time of sale.
c. Cash dividends of $ 20,000 were declared and paid during the year.
d. The beginning and ending balances in the Plant and Equipment and Accumulated Depreciation accounts are given below:

e. The balance in the Cash account at the beginning of the year was $ 23,000; the balance at the end of the year was $ __________ ? __________.
f. If data are not given explaining the change in an account, make the most reasonable assumption as to the cause of the change.

Using the indirect method, prepare a statement of cash flows for theyear.

  • CreatedMay 20, 2014
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