Anakin, Inc., provides the following account balances for 2011 and 2010: Using the format presented in the

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Anakin, Inc., provides the following account balances for 2011 and 2010:

Using the format presented in the chapter, prepare the Operating Activities section of the statement of cash flows and present that information using
(a) The direct method and
(b) The indirectmethod.

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Intermediate Accounting

ISBN: 978-0324592375

17th Edition

Authors: James D. Stice, Earl K. Stice, Fred Skousen

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Question Posted: Jan 28, 2012 06:33 AM

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Anakin, Inc., provides the following account balances for 2011 and 2010: Using the format presented in the

Question:

Dec. 31, 2011 Dec. 31, 2010 Accounts Receivable. Inventory Accounts Payable Salaries Payable.. Sales Cost of Goods Sold.. Depreciation Expense Salaries Expense Other Expenses $18,700 25,440 21,650 1,500 278,700 197,000 16,700 35,200 24,300 $15,500 27 200 22.400 1.350

Step by Step Answer:

Income Statement Adjustments Statement of Cash Flows Sales 278700 3200 27...View the full answer

Intermediate Accounting

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