Question: Additional Information a. A $30,000 notes payable Is retired at its $30,000 carrying (book) value in exchange for cash. b. The only changes affecting retained



Additional Information a. A $30,000 notes payable Is retired at its $30,000 carrying (book) value in exchange for cash. b. The only changes affecting retained earnings are net income and cash dividends paid. c. New equipment is acquired for $61,600 cash. d. Recelved cash for the sale of equipment that had cost $52,600, ylelding a $2,400 gain. e. Prepaid Expenses and Wages Payable relate to Operating Expenses on the Income statement. f. All purchases and sales of Inventory are on credit. Requlred: (1) Prepare a statement of cash flows using the Indirect method for the year ended June 30, 2021. (Amounts to be deducted should be Indicated with a minus siqn.) (2) Compute the company's cash flow on total assets ratio for its fiscal year 2021
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