Shee October 31, 2020, and 2021 2021 2020 Assets Cash and cash equivalent 450,000 385,400 185,000 45,000 650,100 1,715,500 350,000 440,850 185,000 Accounts Receivable Inventory Prepaid expenses Equipment, net 410,100 1,385,950 Total Assets Liabilities Accounts payable 198,500 145,000 345,900 Accrued liabilities Bond payable Stockholders' Equity: 225,550 222,222 Common Stock 245,000 931,655 (150,555) 193,230 844,948 (100,000) Retained earnings Treasury stock Total liabilities and stockholders' eguity 1716 6 0
Shee October 31, 2020, and 2021 2021 2020 Assets Cash and cash equivalent 450,000 385,400 185,000 45,000 650,100 1,715,500 350,000 440,850 185,000 Accounts Receivable Inventory Prepaid expenses Equipment, net 410,100 1,385,950 Total Assets Liabilities Accounts payable 198,500 145,000 345,900 Accrued liabilities Bond payable Stockholders' Equity: 225,550 222,222 Common Stock 245,000 931,655 (150,555) 193,230 844,948 (100,000) Retained earnings Treasury stock Total liabilities and stockholders' eguity 1716 6 0
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
The owners are concerned about the movement in the company’s
cash and cash equivalent given that the
increase or decrease in this area. The company uses the indirect method to prepare the statement of
expected that this should be able to provide the needed clarity required by the owners.
1.Prepare a complete statement of cash flows for October 2021 using the indirect method based on the information
and guidance provided above.
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