Statement of cash flows : This statement reports all the cash transactions which are responsible for inflow and outflow of cash and result of these transactions is reported as ending balance of cash at the end of reported period. To Prepare: The Statement of cash flow for Company R, using the T-Accounts.

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Chapter 21, Problem 21.32E

To determine

Statement of cash flows: This statement reports all the cash transactions which are responsible for inflow and outflow of cash and result of these transactions is reported as ending balance of cash at the end of reported period.

To Prepare: The Statement of cash flow for Company R, using the T-Accounts.

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(47) The FASB and IASB prefer the direct method of reporting operating cash flows on the statement of cash flows. True False