Cushenberry corporation had the following transactions sold land (cost $12,000) for $15,000 issued common stock at par
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Question:
Cushenberry corporation had the following transactions
sold land (cost $12,000) for $15,000
issued common stock at par for $20,000
recorded depreciation on buildings for $17,000
paid salaries of $9,000
issued 1,000 shares of $1 par value common stock for equipment worth $8,000
sold equipment (cost $10,000 accumulated depreciation $7,000) for $1,200
For each transaction above (a) prepare the journal entry (b) indicate how it would affect the statement of cash flows using the indirect method
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