The 2012 comparative balance sheet and income statement of All Wired, Inc., follow: Additionally, All Wired purchased

Question:

The 2012 comparative balance sheet and income statement of All Wired, Inc., follow:


ALL WIRED, INC. Comparative Balance Sheet December 31, 2012 and 2011 Increase 2012 2011 (Decrease) Current assets: $ 26,



The 2012 comparative balance sheet and income statement of All


Additionally, All Wired purchased land of $24,500 by financing it 100% with longterm notes payable during 2012. During the year, there were no sales of land or equipment, no additional issuances of notes payable, no retirements of stock, and no treasury stock transactions.
Requirements
1. Prepare the 2012 statement of cash flows, formatting operating activities by the indirect method.
2. How will what you learned in this problem help you evaluate aninvestment?

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Financial and Managerial Accounting

ISBN: 978-0132497978

3rd Edition

Authors: Horngren, Harrison, Oliver

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