Bull had performed 25 percent of the services for which it, Ask an Expert

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• Had performed 25 percent of the services for which it had been paid in advance.

• Owes $1 for interest that will be paid next month.

• Depreciated equipment in the amount of $4.

• Physical count of supplies reveals $3 on hand.

• Declared and paid a cash dividend in the amount of 50 percent of January's net income.

REQUIRED:

Prepare a complete set of financial statements as of January 31, 2012, and prepare the statement of cash flows under the direct and the indirect (Appendix 4A) method.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M92220966

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