To prepare the cash flow statement, accountants for H. Laurie, Inc. summarized 2014 activity in the Cash
Question:
To prepare the cash flow statement, accountants for H. Laurie, Inc. summarized 2014 activity in the Cash account as follows:
Requirement
Prepare the cash flow statement of H. Laurie, Inc. for the year ended December 31, 2014, using the direct method for operating activities.
Transcribed Image Text:
Cash 91,700 Payment on accounts payable 347,400 30,000 Collections from customers 492,300 Payment of salaries and wages 63,500 21,100 11,000 Payment of operating expenses 21,100 77,000 18,900 Beginning balance Receipts of interest 15,100 Payment of dividends Issuance of common shares 90,000 Payment of interest Payment for equipment Payment of notes payable Payment of income tax Ending balance 99,100
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Related Book For
Financial Accounting
ISBN: 978-0132889711
1st Canadian Edition
Authors: Jeffrey Waybright, Liang Hsuan Chen, Rhonda Pyper
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