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Trent Company prepared the tabulation

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Trent Company prepared the tabulation 1 The following information is available for Greer Corporation for the year ended December 31, 2011: Collection of principal on long-term loan to a supplier $15,000 Acquisition of equipment for cash 10,000 Proceeds from the sale of long-term investment at book value 22,000 Issuance of ordinary shares for cash 25,000 Depreciation expense 30,000 Redemption of bonds payable at carrying (book) value 34,000 Payment of cash dividends 14,000 Net income 20,000 Purchase of land by issuing bonds payable 40,000 In addition, the following information is available from the comparative statement of financial position for Greer at the end of 2010 and 2011: 2011 2010 Prepaid insurance $ 17,000 $13,000 Accounts receivable (net) 20,000 15,000 Cash 67,000 14,000 Total current assets $104,000 $42,000 Accounts payable $ 30,000 $19,000 Salaries payable 4,000 7,000 Total current liabilities $ 34,000 $26,000 Instructions Prepare Greer’s statement of cash flows for the year ended December 31, 2011 using the indirect method. 2 Trent Company prepared the tabulation below at December 31, 2011. Net Income €340,000 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation expense, €35,000 Increase in accounts receivable, €50,000 Decrease in inventory, €13,000 Amortization of patent, €4,000 Increase in accounts payable, €5,600 Decrease in interest receivable, €7,000 Increase in prepaid expenses, €6,000 Decrease in income taxes payable, €1,500 Gain on sale of land, €5,000 Net cash provided (used) by operating activities Instructions Show how each item should be reported in the statement of cash flows. Use parentheses for deductions. Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help

Trent Company prepared the tabulation

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