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Please make sure the solution is correct and clear Question No. 3: (9 Marks) Assets Equipment Less: Accumulated depreciation Accounts receivable Cash Total Equity and
Please make sure the solution is correct and clear
Question No. 3: (9 Marks) Assets Equipment Less: Accumulated depreciation Accounts receivable Cash Total Equity and Liabilities Share capital ordinary Retained earnings Accounts payable Total Abbey INC. Balance Sheet Dec. 31, 2010 Jan. 1, 2010 Inc./Dec. $39,000 $22,000 $17,000 Inc. -17,000 $ (11,000) 6,000 Inc. 91000 88,000 3,000 Inc. 45,000 13,000 32,000 Inc. $ 158,000 $112,000 100000 38,000 20,000 $ 158,000 $80,000 20,000 Inc. 17,000 21,000 Inc. 15,000 5,000 Inc. $112,000 Net Income of $34000 was reported and Dividend of $13000 were paid in 2010. New Equipment was purchased and none was sold. Requirement: Prepare Statement of Cash Flow for the year 2010 Step by Step Solution
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