On the Basis of the Following Data for Branch Co

question 26

Essay

On the basis of the following data for Branch Co. for the year ended December 31, 2011 and the preceding year, prepare a statement of cash flows using the indirect method of reporting cash flows from operating activities.
Assume that equipment costing $125,000 was purchased for cash and the land was sold for $15,000. The stock was issued for cash and the only entries in the retained earnings account were net income of $56,000 and cash dividends declared and paid of $18,000.

---

Definitions:

Personality Theory

A theory that attempts to describe and explain similarities and differences in people's patterns of thinking, feeling, and behavior.

Ego

In psychoanalytic theory, the part of the personality responsible for dealing with reality, balancing the demands of the id and superego.

Freud

Sigmund Freud, an Austrian neurologist and the founder of psychoanalysis, a method for treating psychopathology through dialogue between a patient and a psychoanalyst.

Personality Components

The elements that make up an individual's personality, often described in models such as the Big Five traits of openness, conscientiousness, extraversion, agreeableness, and neuroticism.