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Dive In Company was started several years ago by two diving instructors. The company s comparative balance sheets and income statement, as well as additional
Dive In Company was started several years ago by two diving instructors. The companys comparative balance sheets and income statement, as well as additional information, are presented below. Current Year Previous Year Balance Sheet at December Cash $ $ Accounts Receivable Prepaid Rent Total Assets $ $ Salaries and Wages Payable $ $ Common Stock Retained Earnings Total Liabilities and Stockholders Equity $ $ Income Statement Service Revenue $ Salaries and Wages Expense Rent and Office Expenses Net Income $ Additional Data: Rent is paid in advance each month, and Office Expenses are paid in cash as incurred. An owner contributed capital by paying $ cash in exchange for the companys stock. Required: Prepare the statement of cash flows for the current year ended December using the indirect method. Amounts to be deducted should be indicated by a minus sign.Dive In Company was started several years ago by two diving instructors. The company's comparative balance sheets and income statement, as well as additional information, are presented below. Additional Data: a Rent is paid in advance each month, and Office Expenses are paid in cash as incurred. b An owner contributed capital by paying $ cash in exchange for the company's stock. Required: Prepare the statement of cash flows for the current year ended December using the indirect method. Amounts to be deducted should be indicated by a minus sign.
Dive In Company was started several years ago by two diving instructors. The companys comparative balance sheets and income statement, as well as additional information, are presented below.
Current Year Previous Year
Balance Sheet at December
Cash $ $
Accounts Receivable
Prepaid Rent
Total Assets $ $
Salaries and Wages Payable $ $
Common Stock
Retained Earnings
Total Liabilities and Stockholders Equity $ $
Income Statement
Service Revenue $
Salaries and Wages Expense
Rent and Office Expenses
Net Income $
Additional Data:
Rent is paid in advance each month, and Office Expenses are paid in cash as incurred.
An owner contributed capital by paying $ cash in exchange for the companys stock.
Required:
Prepare the statement of cash flows for the current year ended December using the indirect method. Amounts to be deducted should be indicated by a minus sign.Dive In Company was started several years ago by two diving instructors. The company's comparative balance sheets and income
statement, as well as additional information, are presented below.
Additional Data:
a Rent is paid in advance each month, and Office Expenses are paid in cash as incurred.
b An owner contributed capital by paying $ cash in exchange for the company's stock.
Required:
Prepare the statement of cash flows for the current year ended December using the indirect method. Amounts to be deducted
should be indicated by a minus sign.
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