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Unformatted text preview: entering and leaving the company, which directly affected the balances reported on the balance sheet. The cash flows listed are separated into three categories: operating activities, investing activities, and financing activities. The amounts recorded on the cash flows statement should equal the amount reported on the balance sheet (inflows minus outflows) for that period. Hence, the balance sheet lists account balances at the end of the period and the cash flow statement breaks down those balances by indicating the inflows and outflows during the reported period that directly affected each account....
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This note was uploaded on 01/24/2012 for the course ACC 220 ACC 220 taught by Professor Black during the Spring '11 term at University of Phoenix.
- Spring '11