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Other Fields Homework Help Accounting Topic started by: rado202 on Feb 5, 2023



Title: The following items were gathered from Rankin Corporation's general ledger:Net income$26,000Gain on ...
Post by: rado202 on Feb 5, 2023
The following items were gathered from Rankin Corporation's general ledger:

Net income$26,000
Gain on sale of marketable securities3,000
Beginning cash balance18,000
Purchase of new factory equipment75,000
Proceeds from sale of marketable securities25,000
Depreciation8,000
Payment of cash dividends23,000
Decrease in accounts receivable6,000
Proceeds from issuance of common stock32,000
Increase in inventory12,000
Increase in accounts payable4,000
Decrease in accrued liabilities2,000

Required:

Using the indirect method, prepare Rankin's statement of cash flows in good form.


Title: The following items were gathered from Rankin Corporation's general ledger:Net income$26,000Gain on ...
Post by: adandarooza on Feb 5, 2023
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