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Use the indirect method to create a Statement of Cash Flows for Big League Bullseye Corp. The amounts provided in the table below relate to
Use the indirect method to create a Statement of Cash Flows for Big League Bullseye Corp. The amounts provided in the table below relate to the month of August 2024.
\begin{tabular}{lrlr} \multicolumn{1}{c}{ Account } & Amount & \multicolumn{1}{c}{ Account } & Amount \\ Net Income & $20,200 & Notes Payable (beginning) & $3,000 \\ Sale of Machinery & $8,000 & Notes Payable (ending) & $0 \\ Depreciation Expense & $2,300 & Accounts Payable (beginning) & $900 \\ Purchase of Equipment & $2,700 & Accounts Payable (ending) & $1,700 \\ Accounts Receivable (beginning) & $5,000 & Maria Samuels, Drawing & $2,000 \\ Accounts Receivable (ending) & $6,500 & Cash (beginning balance) & $43,200 \\ Supplies (beginning) & $2,000 & Interest Payable (beginning) & $1100 \\ Supplies (ending) & $1100 & Interest Payable (ending) & $0 \end{tabular}Step by Step Solution
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