Question: Week 2 Assessment: Preparing a Statement of Cash Flows using the Indirect Method Presented below are financial statements along with additional information from Rajesh Ltd.:
Week 2 Assessment: Preparing a Statement of Cash Flows using the Indirect Method Presented below are financial statements along with additional information from Rajesh Ltd.: image.png Additional data 1. Net income from the income statement for 2020 was USD 32,000 2. Depreciation expense is USD 13,300 3. Dividends declared and paid were USD 20,000 4. During the year, equipment was sold for USD 9,700 cash. This equipment cost USD 18,000 originally and had accumulated depreciation of USD 8,300 at the time of sale. Instructions: Prepare a statement of cash flows for 2020 using the indirect method according to the information provided Upload your work as a file
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
