Dive In Company was started several years ago by two diving instructors. The company's comparative...
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Accounting
Dive In Company was started several years ago by two diving instructors. The company's comparative balance sheets and income statement, as well as additional information, are presented below. Additional Data: a. Rent is paid in advance each month, and Office Expenses are paid in cash as incurred. b. An owner contributed capital by paying $450 cash in exchange for the company's stock. Required: 1. Prepare the statement of cash flows for the current year ended December 31 using the indirect method. (Amounts to be deducted should be indicated by a minus sign.) 1. Prepare the statement of cash flows for the current year ended December 31 using the indirect method. (Amounts to be deducted should be indicated by a minus sign.)
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