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IThe following information applies to the questions displayed below.J . The following financial statements and a itional information are reported. Additional information a . A
IThe following information applies to the questions displayed below.J The following financial statements and aitional information are reported. Additional information a A $ notes payable is retired at its $ carrying book value in exchange for cash. b The only changes affecting retained earnings are net income and cash dividends paid. c New equipment is acquired for $ cash. d Received cash for the sale of equipment that had cost $ yielding a $ gain. e Prepaid Expenses and Wages Payable relate to Operating Expenses on the income statement. t All purchases and sales of inventory are on credit. Required: Prepare a statement of cash flows using the indirect method for the year ended June Note: Amounts to be deducted should be indicated with a minus sign.
IThe following information applies to the questions displayed below.J
The following financial statements and aitional information are reported.
Additional information
a A $ notes payable is retired at its $ carrying book value in exchange for cash.
b The only changes affecting retained earnings are net income and cash dividends paid.
c New equipment is acquired for $ cash.
d Received cash for the sale of equipment that had cost $ yielding a $ gain.
e Prepaid Expenses and Wages Payable relate to Operating Expenses on the income statement.
t All purchases and sales of inventory are on credit.
Required:
Prepare a statement of cash flows using the indirect method for the year ended June Note: Amounts to be deducted should be indicated with a minus sign.
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