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Hello! I am having trouble figuring out how to fill out the Statement of Cash Flows. Would really appreciate it if someone could help me!
Hello! I am having trouble figuring out how to fill out the Statement of Cash Flows. Would really appreciate it if someone could help me! Thank you!
r in the general ledger of Beiber Corp. during 2017. Equipment Date Jan. 1 July 31 Sept. 2 Nov. 10 Debit Credit Balance Balance Purchase of equipment Cost of equipment constructed Cost of equipment sold 160,000 230,000 283,000 70,000 53,000 49,000 234,000 Accumulated Depreciation-Equipment Date an. 1 Nov. 10 Dec. 31 Balance Accumulated depreciation on equipment sold Depreciation for year Debit Credit Balance 71,000 55,000 83,000 16,000 28,000 Retained Earnings Date Jan. 1 Aug. 23 Dec. 31 Debit Credit Balance 105,000 91,000 Balance 14,000 Dividends (cash) Net income 72,000 163,000 From the postings in the accounts, indicate hon the information is reported on a statement of cash flows using the indinect method. The loss on disposal of piant assets was 58,000. (Hint: Cost af equipment constructed & reperted in the nvesting activibes section as a decresse in cash of $53,000.) (Show amounts rhat decreas cash flow with either a -sign e.g. -13,000 or in parenthesis e.g. (15,000)) Beiber Corp r the Year Ended December 3 Cash Fowa from Operating Actrvites Adjustments to reconcile net income to Nat Cash Provided by Oparating Actvites Loss on Disposal of Plant Assets bet Cash Provided by Operating Acthuities sesech Net Cash Provided by Operating Activities Cash Flows from Investing Activities Sale of Equipment Construction of Equipment Purchase of Equipment Net Cash used by Investing Activities Cash Flows from Financing Activities Payment of Cash Dividends Click if you would like to Show Work for this question: Open Show Work
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