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Exercise D13-11 The following items were gathered from Rindt Industries general ledger: Sale of marketable securities $ 14,000 Depreciation and amortization expense 24,262 Payment of
Exercise D13-11
The following items were gathered from Rindt Industries general ledger:
Sale of marketable securities | $ | 14,000 | ||
Depreciation and amortization expense | 24,262 | |||
Payment of cash dividends | 3,543 | |||
Proceeds from disposal of equipment | 819 | |||
Loss on disposal of equipment | 150 | |||
Net income | 26,043 | |||
Beginning Cash balance | 19,600 | |||
Purchase of equipment | 21,632 | |||
Decrease in Accounts Receivable | 1,048 | |||
Proceeds from issuing common stock | 2,241 | |||
Increase in Inventory | 3,465 | |||
Increase in Accounts Payable | 4,650 | |||
Ending Cash balance | 64,173 |
Using the indirect method, construct Rindt Industries statement of cash flows.
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