Exercise 14-17 (Algorithmic) Statement of cash flowsindirect method The comparative balance sheet of Tru-Built Construction Inc. for December 31,…
Statement of cash flows—indirect method
The comparative balance sheet of Tru-Built Construction Inc. for December 31, 2010 and 2009, is as follows:
Dec. 31, 2010
Dec. 31, 2009
Common stock, $1 par
Paid-in capital in
excess of par-common
The following additional information is taken from the records:
Land was sold for $18.
Equipment was acquired for cash.
There were no disposals of equipment during the year.
The common stock was issued for cash.
There was a $61 credit to Retained Earnings for net income.
There was a $19 debit to Retained Earnings for cash dividends declared.
Prepare a statement of cash flows, using the indirect method of presenting
cash flows from operating activities
Use a minus sign to indicate cash outflows.
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Exercise 1417 (Algorithmic) Statement of cash flows—indirect method
The comparative balance sheet of TruBuilt Construction Inc. for December 31, 2010 and 2009, is as follows: Dec. 31, 2010…
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