Managerial Accounting Statement of Cash Flows: Harvey Inc.
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Prepare a statement of cash flows for Harvey Inc for the year using the indirect method.
Please see the attachment for the full question and data.
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Solution Summary
The solution attaches an Excel spreadsheet along with a few simple lines of explanation in the response section.
Solution Preview
The solution is provided in a separate excel file that is attached. It contains following parts.
1. Cash flow statement- Indirect method
2. Working and ledger accounts for tracing & calculating missing figures: (1) Depreciation provision account (2) Property, Plant and Equipment account and (3) Income tax payable account.
3. Reconciliation of retained earning
4. Sale proceed of equipment
5. Purchase of new equipment
6 Special guidelines for evaluation and comparison of cash flow statement of a professional:
1. In a cash flow statement, the analysis of funds is made according to its meaning as cash. When a transaction takes place either cash is received or paid. In ...
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