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Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
Edition 3ISBN: 978-0132962339Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
Edition 3ISBN: 978-0132962339 Exercise 34
Purpose of the statement and preparing the statement of cash flows-indirect method
Classic Reserve Rare Coins (CRRC) was formed on January 1, 2012. Additional data for the year follows:
Requirements
1. What is the purpose of the cash flow statement
2. Prepare CRRC's income statement for the year ended December 31, 2012. Use the single-step format, with all revenues listed together and all expenses listed together.
3. Prepare CRRC's balance sheet at December 31, 2012.
4. Prepare CRRC's statement of cash flows using the indirect method for the year ended December 31, 2012.
Classic Reserve Rare Coins (CRRC) was formed on January 1, 2012. Additional data for the year follows:
Requirements
1. What is the purpose of the cash flow statement
2. Prepare CRRC's income statement for the year ended December 31, 2012. Use the single-step format, with all revenues listed together and all expenses listed together.
3. Prepare CRRC's balance sheet at December 31, 2012.
4. Prepare CRRC's statement of cash flows using the indirect method for the year ended December 31, 2012.
Explanation
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2. Before we prepare the income statemen...
Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
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