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. . . (a) Prepare a statement of cash flows for Cullumber Limited using the direct method, accompanied by a schedule that provides cash flow
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(a) Prepare a statement of cash flows for Cullumber Limited using the direct method, accompanied by a schedule that provides cash flow from operations using the indirect approach. (Show amounts that decrease cash flow with either a negative sign e.g. 15,000 or in parenthesis eg. (15,000). Round answers to 0 decimal places, e.g. 5,275.) Adjustments to reconcile net income to Cash Flows from Operating Activities Depreciation Expense Amortization Expense Gain on Sale of Land Proceeds From Sale of FV-NI Investments Gain on Disposal of Investments-FV-NI Decrease in Prepaid Rent Decrease in Income Tax Payable Decrease in Salaries and Wages Payable Increase in Accounts Receivable Increase in Inventory Increase in Prepaid Insurance Decrease in Office Supplies Decrease in Accounts Payable Increase in Deferred Tax Liability Net Cash Provided by Operating Activities $ 2023 2022 $ $ Cash Temporary Bank Overdraft Total Cash and Cash Equivalents $ eTextbook and Media Save for Later Attempts: 0 of 2 used Submit Answer Cullumber Limited, which follows IFRS, chooses to classify interest and dividends received as well as interest paid as operating mation available at the end of 2023: Note 1: Investment income generated by (FV-NI) investments includes dividend income of $2,200 and a gain on disposal of investments of $4,000Step by Step Solution
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