Selected accounts of Jessie Antiques show the following: Requirement For each account, identify the item or items
Question:
Requirement
For each account, identify the item or items that should appear on a statement of cash flows prepared by the direct method. State where to report theitem.
Transcribed Image Text:
Salary Payable Beginning bal 8,000 21,000 6,000 ents 23,000 Salary expense Ending bal Buildings 60,000 Depreciation 90,000 Book value of building sold 89,000* 46,000 Beginning bal 15,000 uisitions Ending bal Sale price was $112,500. Notes Payable Beginning bal 176,000 for cash 56,000 182,000 Pa ents 50,000 Issuance of note Ending bal
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 70% (10 reviews)
From Salary Payable account Salary Payments of 23000 would appear ...View the full answer
Answered By
Heena Nandwani
Profile as a Teacher (2011-2019)
Ø Personally, Involved in Teaching Profession since 2011
Ø Associated as a faculty at Emerge Academy, Indore from 2014 for various professional courses viz. B. Com, BBA, MBA, CA. and CS.
Ø Expertise in handling practical subjects with ease like, Mathematics, Accountancy, Financial Management, and Cost Accounting
Ø Exposure to teach company law and audit
0.00
0 Reviews
10+ Question Solved
Related Book For
Financial accounting
ISBN: 978-0132751124
9th edition
Authors: Walter T. Harrison Jr., Charles T. Horngren, C. William Thom
Question Posted:
Students also viewed these Managerial Accounting questions
-
Following is a statement of cash flows (indirect method) for Hartford, Inc., for the year ended December 31, 2011. Also shown is a partially completed comparative balance sheet as of December 31,...
-
A statement of cash flows for Friendly Markets, Inc., for 2014 appears below. Required: Prepare the worksheet entry that would be made to prepare a cash flow statement for each of the numbered line...
-
A statement of cash flows for Friendly Markets, Inc., for 2017 appears below. Operations (1) Net income................................................................$ 1,161,442 Adjustments for...
-
Olmsted Co. has small computer chips assembled in Poland and transports the final assembled products to the parent, where they are sold by the parent in the U.S. The assembled products are invoiced...
-
A standby system has a basic unit with four standby components. The time to failure of each component has an exponential distribution with a failure rate of 0.008/hour. For a 400 hour operation...
-
The following are recent year summaries of balance sheet and income statement data (in millions) for Apple Inc. (AAPL) and Verizon Communications (VZ). Determine the amounts of the missing items (a)...
-
What are the tests that could be used in a two-independent-samples $t$ test for proportions?
-
Each of the following situations involves the use of discounts: 1. How much discount may Seals Inc. take in each of the following transactions? What was the annualized interest rate? a. Seals...
-
could you identify 3 different consumer focused potential hypothesis that the client can be facing the managerial problem and could you turn these 3 hypothesis into 3 consumer focused research...
-
The Chartered Financial Analyst (CFA) designation is the de facto professional certification for the financial industry. Employers encourage their prospective employees to complete the CFA exam....
-
The accounting records of Best Pharmaceuticals, Inc., reveal the following: Requirement 1. Compute cash flows from operating activities by the direct method. Also evaluate Bests operating cash flow....
-
The income statement and additional data of One Stop, Inc., follow: Additional data: a. Collections from customers are $20,000 more than sales. b. Payments to suppliers are $1,200 less than the sum...
-
Under what circumstances will a group boycott by an athletic league violate the antitrust laws?
-
Compute hit ratio for paging in memory management?
-
A break point A) occurs when we get so frustrated trying to solve a programming problem we just quit B) when a number is to large to fit in its declared data type C) a marker to tell the debugger to...
-
The Wilson Company is considering the purchase of a new warehouse. Wilson can borrow $78,000 from the bank to make the purchase. He will be required to make monthly payments of $2,234. How long will...
-
This is to test a balanced tree. I need help testing an unbalanced tree the same way import java.io.File; import java.io.FileNotFoundException; import java.io.PrintWriter; import java.util.*; public...
-
If a spherical tank 4 m in diameter can be filled with a liquid for $900, find the cost to fill a tank 16 m in diameter. The cost to fill the 16 m tank is $
-
Which M 3+ ions (where M is a metal) are predicted to have the following ground-state electron configurations: (a) [Ar]3d 6 ; (b) [Ar]3d 5 ; (c) [Kr]4d 5 ; (d) [Kr]4d 3 ?
-
Write a paper detailing a geographic information system (GIS) of your own design that would utilize data in an original manner.
-
LLC International is issuing a $2,000 par value bond that pays 8 percent annual interest and matures in 10 years. Investors are willing to pay $1,800 for the bond. Floatation costs will be 4 percent...
-
a. How does the rate earned on total assets differ from the rate earned on stockholders equity? b. Which ratio is normally higher? Explain.
-
Describe two reports provided by independent auditors in the annual report to shareholders.
-
Describe two reports provided by independent auditors in the annual report to shareholders.
-
You will modify the add method in the LinkedBag class. The add method is the only thing you should modify in LinkedBag. Add a second parameter to the method header that will be a boolean variable:...
-
Generate Random Decals is primitive please fix that as well As a license plate number, integers are to be used. Positive numbers add a car, negative numbers remove a car, zero stops the...
-
Describe the competitive positions in the drone industry and assess the opportunities for at least three positions in the industry.
Study smarter with the SolutionInn App