Problems: Series B
PR statement of Cash Flows:
The comparative balance sheet of Merrick Equipment Co for December and Y is as follows:
Details
Additional data obtained from an examination of the accounts in the ledger for are as follows:
a Equipment and land were acquired for cash.
b There were no disposals of equipment during the year.
c The investments were sold for $ cash.
d The common stock was issued for cash.
e There was a $ credit to Retained Earnings for net income.
f There was a $ debit to Retained Earnings for cash dividends declared.
INSTRUCTIONS
Prepare a statement of cash flows, using the indirect method of presenting cash flows from used for operating activities.
