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1 Zirkle Company borrowed $ 1 0 2 , 0 0 0 from Plains Bank on July 3 1 , Year 1 . The note
Zirkle Company borrowed $ from Plains Bank on July Year The note carried a interest rate with a oneyear term to maturity.
Required:
a Show the effects of borrowing the money and the December Year adjustment on the accounting equation.
b What is the amount of interest expense for Year
c Prepare a statement of cash flows for the Zirkle Company for Year
Complete this question by entering your answers in the tabs below.
Required
Show the effects of borrowing the money and the December Year adjustment on the accounting equation.
Note: Enter any decreases to account balances with a minus sign. Leave cells blank if no input is needed.
tableZIRKLE COMPANYEffect of Adjustment on the Accounting EquationDecember Year EventAssets,Liabilities,tableStockholdersEquityYear July December
Zirkle Company borrowed $ from Plains Bank on July Year The note carried a interest rate with a oneyear term to maturity.
Required:
a Show the effects of borrowing the money and the December Year adjustment on the accounting equation.
b What is the amount of interest expense for Year
c Prepare a statement of cash flows for the Zirkle Company for Year
Complete this question by entering your answers in the tabs below.
What is the amount of interest expense for Year
interest expense
Required
Required C
Prepare a statement of cash flows for the Zirkle Company for Year
Note: Cash outflows should be indicated with a minus sign.
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tableZIRKLE COMPANYStatement of Cash Flows,Cash flows from operating activities,Net cash flow from operating activities,Cash flows from investing activities,Net cash flow from investing activities,Cash flows from financing activities,Net cash flow from financing activities,
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