Hunter Company is developing its annual financial statements at December 31, 2011. The statements are complete except
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Additional Data:
a. Bought fixed assets for cash, $9,000.
b. Paid $10,000 on the long-term note payable.
c. Sold unissued common stock for $20,000 cash.
d. Declared and paid a $3,800 cash dividend.
e. Incurred expenses that included depreciation, $6,000; wages, $10,000; taxes, $3,000; other, $8,000.
Required:
1. Prepare a statement of cash flows spreadsheet using the indirect method to report cash flows from operating activities.
2. Prepare the statement of cash flows.
3. Prepare a schedule of noncash investing and financing activities ifnecessary.
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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