To prepare the statement of cash flows, accountants for H. Laurie, Inc. summarized 2015 activity in the
Question:
Requirement
1. Prepare the statement of cash flows of H. Laurie, Inc. for the year ended December 31, 2015, using the direct method for operating activities.
Transcribed Image Text:
Cash Beginning balance Receipts of interest Collections from customers Issuance of common shares 91,700 Payment on accounts payable 15,100 Payment of dividends 492,300 Payment of salaries and wages 90,000 Payment of interest Payment for equipment Payment of operating expenses Payment of notes payable Payment of income tax 347,400 30,000 63,500 21,100 11,000 21,100 77,000 18,900 Ending balance 99,100
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Related Book For
Financial Accounting
ISBN: 978-0133375534
2nd Canadian edition
Authors: Jeffrey Waybright, Robert Kemp, Sherif Elbarrad
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