Comparative Balance Sheet Accounts Of Jensen Company Are Presented Below

Comparative balance sheet accounts of Jensen Company are presented below.

Comparative balance sheet accounts of Jensen Company are present

Additional data:
1. Equipment that cost $10,000 and was 40% depreciated was sold in 2008.
2. Cash dividends were declared and paid during the year.
3. Common stock was issued in exchange for land.
4. Investments that cost $35,000 were sold during the year.
5. There were no write-offs of uncollectible accounts during the year.
Jensen’s 2008 income statement is as follows.

Comparative balance sheet accounts of Jensen Company are present

Instructions
(a) Compute net cash provided by operating activities under the direct method.
(b) Prepare a statement of cash flows using the indirectmethod.

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