Preparing the statement of cash flows using the direct method would be a simple task if all companie

Preparing the statement of cash flows using the direct method would be a simple task if all companie

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Preparing the statement of cash flows using the direct method would be a simple task if all  companies maintained extremely detailed cash account records that could be easily summarized like  this cash account: Cash Balance, beginning of year 6,330 71,976 Payments to suppliers Collections from customers
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Unformatted text preview: 129,663 30,517 Payments for operating expenses Proceeds from equipment sale 7,000 3,000 Payments for income taxes Proceeds from loan 4,000 1,950 Payments of interest Proceeds from sale of stock 10,000 20,000 Purchase of equipment 12,000 Payment on loan 600 Payment of dividends Balance, end of year 16,950...
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