1. Equipment costing $20,000 was sold for $5,000. 2. Among other items , the operating expenses includes...
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Question:
1. Equipment costing $20,000 was sold for $5,000. |
2. Among other items, the operating expenses includes depreciation expense. |
3. Equipment was purchased during the year for $30,000 and was paid for by issuing $30,000 worth of common stock |
4. Interest revenue of $1,500 was earned and received for a loan made in 2017. |
5. Dividend revenue was received for common stock owned in Fully Invested Corporation |
Prepare a full statement of cash flows using the direct method. Then prepare the operating section only using the indirect method. |
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