P 21–14 - Surmise Company - Statement of cash flows; indirect method; limited information ● LO4 LO8
The comparative balance sheets for 2011 and 2010 are given below for Surmise Company. Net income for 2011 was $50 million.
Required:
Prepare the statement of cash flows of Surmise Company for the year
ended December 31, 2011. Use the indirect method to present cash flows
from operating activities because you do not have sufficient information
to use the direct method. You will need to make reasonable assumptions
concerning the reasons for changes in some account balances. A
spreadsheet or T-account analysis will be helpful.
Click here: ACC 306 Week 5 P 21-14 Surmise Company - The comparative balance sheets for 2011 and 2010 are given below for Surmise Company
