The following are Glad Corporation's 2009 and 2010 year-end balance sheets and the 2010 income statement.
‪
‪
During 2010, Glad Corporation sold equipment costing $150,000 for $70,000.
Required:
1. Prepare a statement of cash flows for Glad Corp. for 2010 using the indirect method.
2. Prepare the operating activities section of the statement of cash flows for Glad Corp. for 2010 using the direct method.

Question

The following are Glad Corporation's 2009 and 2010 year-end balance sheets and the 2010 income statement.
‪  
‪  
During 2010, Glad Corporation sold equipment costing $150,000 for $70,000.
	Required:
1.	Prepare a statement of cash flows for Glad Corp. for 2010 using the indirect method.
2.	Prepare the operating activities section of the statement of cash flows for Glad Corp. for 2010 using the direct method.

Quizplus · Accepted Answer

The Answer of The following are Glad Corporation's 2009 and 2010 year-end balance sheets and the 2010 income statement.
‪  
‪  
During 2010, Glad Corporation sold equipment costing $150,000 for $70,000.
	Required:
1.	Prepare a statement of cash flows for Glad Corp. for 2010 using the indirect method.
2.	Prepare the operating activities section of the statement of cash flows for Glad Corp. for 2010 using the direct method.

The Following Are Glad Corporation's 2009 and 2010 Year-End Balance