Help Save & Exit Submit

$4$

Check my work

E$12-18($Static$)$ Preparing a Statement of Cash Flows $($Indirect Method$)$ LO$12-2,12-4,12-6$

Computer Service and Repair was started five years ago by two college roommates. The company's comparative balance sheets and

$2\mathrm{.}5$

income statement are presented below, along with additional information.

points

Additional Data:

a$.$ Prepaid expenses relate to rent paid in advance.

b$.$ Other expenses were paid in cash.

c$.$ Purchased equipment for $$350$ cash at the beginning of the current year and recorded $$50$ of depreciation expense at the end of the current year.

d$.$ At the end of the current year, the company signed a short$-$term note payable to the bank for $$300.$

Mc

Prev

$4$ of $4$

Next