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Prepare a complete Statement of CashFlow for this company fiscal year ending October, 2014, using the indirect method for the operating section Company One Trick
Prepare a complete Statement of CashFlow for this company fiscal year ending October, 2014, using the indirect method for the operating section Company
One Trick Pony, Inc. Comparative Balance Sheets For the Years Ended October 31, 2014 2013 Cash Accounts Receivable Inventory Prepaid Rent Land Plant and Equipment Accumulated Depreciation 84,500 32,500 10,000 12,000 8,000 7,000 1,200 1,000 75,000 75,000 250,000 150,000 (75,000) (25,000) 353,700 252,500 Total Assets Accounts Payable Income Taxes payable Short Term Notes Payable Long Term Bonds Payable Common Stock Retained Earnings Total Liabilities and Equity 15,000 15,000 2,500 2,000 20,000 22,500 147,500 72,500 150,000 100,000 18,700 40,500 353,700 252,500 Notes: Equipment was acquired by exchanging $50,000 bonds payable, 25,000 shares $1.00 par value common stock, and the remainder in cash. Cash Dividends of $5,000 were declared and paid. A net loss of $16,800 which included $50,000 depreciation expense was recordedStep by Step Solution
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