On the basis of the following data for Breach Co.for the year ended December 31,2011 and the preceding year,prepare a statement of cash flows using the indirect method of reporting cash flows from operating activities.
Assume that equipment costing $25,000 was purchased for cash and no long term assets were sold during the period.
Stock was issued for cash - 3,200 shares at par.
Net income for 2010 was $76,000.
Cash dividends declared and paid were $13,000.

Question

Quizplus · Accepted Answer

The Answer of On the basis of the following data for Breach Co.for the year ended December 31,2011 and the preceding year,prepare a statement of cash flows using the indirect method of reporting cash flows from operating activities.
Assume that equipment costing $25,000 was purchased for cash and no long term assets were sold during the period.
Stock was issued for cash - 3,200 shares at par.
Net income for 2010 was $76,000.
Cash dividends declared and paid were $13,000.

On the Basis of the Following Data for Breach Co