Selected accounts of McKay Bricker Framing show the following: Requirement 1. For each account, identify the item
Question:
Selected accounts of McKay Bricker Framing show the following:
Requirement
1. For each account, identify the item or items that should appear on a statement of cash flows prepared using the direct method. State where to report the item.
Transcribed Image Text:
Salaries Payable Beginning bal 23,000 Salary expense |Ending bal 8,000 21,000 Payments 6,000 Buildings 60,000 Depreciation 90,000 Book value of building sold Beginning bal Acquisitions with cash 15,000 89,000* 46,000 | Ending bal * Sale price was $112,000. Notes Payable Beginning bal 50,000 Issuance of note payable for cash |Ending bal 176,000 Payments 56,000 182,000
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Related Book For
Financial Accounting
ISBN: 978-0134725987
12th edition
Authors: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.
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