the accounting records for l lee associates inc for the year ended april 30 2014 con 4374850

The accounting records for L. Lee Associates, Inc. for the year ended April 30, 2014, contain the following information: a. Purchase of plant assets, $55,400 b. Proceeds from issuance of common shares, $45,000 c. Payment of dividends, $44,400 d. Collection of interest, $8,500 e. Payments of salaries, $93,600 f. Proceeds from sale of plant assets, $27,000 g. Collections from customers, $630,000 h. Cash receipt of dividend revenue, $4,600 Requirement Prepare L. Lee Associates’ cash flow statement for the year ended April 30, 2014. Use the direct method for cash flows from operating activities. View Solution:
The accounting records for L Lee Associates Inc for the

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