Selected accounts of Printing Networks, Inc., show the following: Requirement 1. For each account, identify the item

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Selected accounts of Printing Networks, Inc., show the following:

Accounts receivable Beginning balance Service revenue 9,100 40,000 Cash collections 38,000 Ending balance 11,100 Land Be

Requirement
1. For each account, identify the item or items that should appear on a statement of cash flows prepared by the direct method. Also state each item€™s amount and where to report theitem.

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Financial and Managerial Accounting

ISBN: 978-0132497978

3rd Edition

Authors: Horngren, Harrison, Oliver

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Question Posted: Dec 16, 2011 05:21 AM

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Selected accounts of Printing Networks, Inc., show the following: Requirement 1. For each account, identify the item

Question:

Accounts receivable Beginning balance Service revenue 9,100 40,000 Cash collections 38,000 Ending balance 11,100 Land Beginning balance Acquisition 87,000 14,000 Ending balance 101,000 Long-term notes payable Beginning balance 73,000 Issuance for cash 274,000 84,000 Payments Ending balance 285,000

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Req 1 Accounts receivable Report the cash collections as an ope...View the full answer

Financial and Managerial Accounting

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