Question
Laneway Cellular accountants have assembled the following data for the year ended September 30, 2024. Cash receipt from sale of land $29,000 Net income $30,000
Laneway Cellular accountants have assembled the following data for the year ended September 30, 2024.
| Cash receipt from sale of land | $29,000 | Net income | $30,000 |
| Depreciation expense | $7,000 | Cash purchase of equipment | $43,000 |
| Cash payment of dividends | $5,600 | Decrease in current liabilities | $17,000 |
| Cash receipt from Issuance of common stock | $16,000 | Increase in current assets other than cash | $11,000 |
Prepare Laneway Cellular's statement of cash flows using the indirect method for the year ended September 30, 2024. Assume beginning and ending Cash are $50,000 and $55,400; respectively.
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Financial and Managerial Accounting
Authors: Horngren, Harrison, Oliver
3rd Edition
978-0132497992, 132913771, 132497972, 132497999, 9780132913775, 978-0132497978
