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(Solution) - Condensed financial data of Biber Company appear below

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Item details:

Condensed financial data of Biber Company appear below.

Additional information:
1. New plant assets costing $92,000 were purchased for cash during the year.
2. Investments were sold at cost.
3. Plant assets costing $47,000 were sold for $15,550, resulting in gain of $8,750.
4. A cash dividend of $83,400 was declared and paid during the year.

Prepare a worksheet for the statement of cash flows using the indirect method. Enter the reconciling items directly in the worksheet columns, using letters to cross-reference eachentry.


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This question was answered on: Jul 11, 2017

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