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How will affect the balance sheet and cash flow

Assignment Help Financial Accounting
Reference no: EM132979690

Problem 1: Based on the following information, prepare a balance sheet.

Current Assets = $15,000; Property, Plant & Equipment = $25,000;

Accumulated Depreciation = $5,000; Accounts Payable = $5,000;

Notes Payable = $5,000; Total Liabilities = $25,000

Problem 2: If a company shows a profit on its Income Statement, how will this affect (a) the Balance Sheet and (b) Cash Flow?

Problem 3: What is the difference between the Direct Method and Indirect Method for calculating Cash Flow?

Reference no: EM132979690

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