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Operating activities section using the indirect method

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Reference no: EM13533129

Computing cash flows from operating activities-indirect method

One Way Cellular accountants have assembled the following data for the year ended September 30, 2012:

Cash receipt from sale of land

$34,000

Net income

$55,000

Depreciation expense

20,000

Purchase of equipment

39,000

Payment of dividends

6,100

Decrease in current liabilities

19,000

Cash receipt from issuance of common stock

30,000

Increase in current assets other than cash

14,000

Requirement

1. Prepare the operatingactivities section using the indirect method for One Way Cellular's statement of cash flows for the year ended September 30, 2012.

Reference no: EM13533129

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