On the basis of the following data for Breach Co. for the current and preceding years ended December 31, prepare a statement of cash flows using the indirect method.
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 the current year was $76,000.
Cash dividends declared and paid were $13,000.

Question

On the basis of the following data for Breach Co. for the current and preceding years ended December 31, prepare a statement of cash flows using the indirect method.   
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 the current year was $76,000. 
Cash dividends declared and paid were $13,000.

Quizplus · Accepted Answer

The Answer of On the basis of the following data for Breach Co. for the current and preceding years ended December 31, prepare a statement of cash flows using the indirect method.   
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 the current year was $76,000. 
Cash dividends declared and paid were $13,000.

On the Basis of the Following Data for Breach Co