On the basis of the following data, for Teller Co. for 2006 and the preceding year ended
Question:
On the basis of the following data, for Teller Co. for 2006 and the preceding year ended December 31, 2005, prepare a statement of cash flows in excel. Use the indirect method of reporting cash flows from operating activities.
Additional Information
1) Assume that equipment costing $125,000 was purchased for cash and equipment costing $85,000 with accumulated depreciation of $65,000 was sold for $15,000;
2) The stock was issued for cash;
3) The only entries in the retained earnings account were net income of $51,000 and cash dividends declared of $13,000.
Balance Sheets
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Related Book For
Intermediate Accounting Reporting and Analysis
ISBN: 978-1285453828
2nd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
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