Use the information presented in P22-7. Required 1. Using the direct method, prepare the cash flows from operating activities section of the 2007 statement of cash flows for the Lamberson Company. 2. (Optional). If you completed P22-7 earlier, prepare the remaining portion of the statement of cash flows. (A separate schedule reconciling net income to cash provided by operating activities
Chapter 22, Problems #14
Use the information presented in P22-7.
Required
1. Using the direct method, prepare the cash flows from operating activities section of the 2007 statement of cash flows for the Lamberson Company.
2. (Optional). If you completed P22-7 earlier, prepare the remaining portion of the statement of cash flows. (A separate schedule reconciling net income to cash provided by operating activities is not necessary.)
Required
1. Using the direct method, prepare the cash flows from operating activities section of the 2007 statement of cash flows for the Lamberson Company.
2. (Optional). If you completed P22-7 earlier, prepare the remaining portion of the statement of cash flows. (A separate schedule reconciling net income to cash provided by operating activities is not necessary.)
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Answer
1. and 2. LAMBERSON COMPANY Statement of Cash Flows For Year Ended December 31, 2007 Cash Flows From Operating Activities Cash Inflows: Collections fr…View the full answer
Related Book For 
Intermediate Accounting
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
ISBN: 978-0324300987