For each transaction, indicate the amount of the cash flow, indicate whether each results in an inflow
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For each transaction, indicate the amount of the cash flow, indicate whether each results in an inflow or outflow of cash, and give the section of the statement in which each cash flow would appear. Assume the statement of cash flows is prepared using the directmethod.
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Inflow or Section of the Transaction a. Issued 5,000 shares of $0.50 par common stock for Amount Outflow Statement $25 per share b. Paid $15,000 cash for office renovations c. Sold $32,000 of inventory, received $27,000 in cash and remaining $5,000 on account d. Paid $6,500 for security services e. Repaid a $8,000 short-term note along with $800 interest f. Purchased a delivery truck for $42,000 g. Paid salary expenses totaling $7,950 h. Purchased $8,000 of treasury stock
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a b C d e f g h Inflows Outflows 125000 Inflow 15000 ...View the full answer
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Related Book For
Financial Accounting: A Business Process Approach
ISBN: 978-0136115274
3rd edition
Authors: Jane L. Reimers
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