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Hi I was hoping for help with my financial accounting homework Required information [The following information applies to the questions displayed below.] Hanks Company is
Hi I was hoping for help with my financial accounting homework
Required information [The following information applies to the questions displayed below.] Hanks Company is developing its annual financial statements at December 31 , current year. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized as follows: Additional data: a. Bought fixed assets for cash, $9,000. b. Paid $5,900 on the long-term note payable. c. Sold unissued common stock for $14,600 cash. d. Declared and paid a $2,100 cash dividend. e. Incurred the following expenses: depreciation, $6,100; wages, $12,100; taxes, $2,100; and other, $10,700. quired: Prepare statement of cash flows T-accounts using the indirect method to report cash flows from operating activities. (Enter all ounts as positive values.) Required: 1. Prepare statement of cash flows T-accounts using the indirect method to report cash flows from operating activities. (Enter all amounts as positive values.)Step by Step Solution
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