The following information is taken from the 2015 general ledger of Swisher Company. Instructions In each case,
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Instructions
In each case, compute the amount that should be reported in the operating activities section of the statement of cash flows under the directmethod.
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Rent expense Prepaid rent, January 1 Prepaid rent, December 31 Salaries and wages expense Salaries and wages payable, January 1 Salaries and wages payable, December 31 Sales revenue Accounts receivable, January 1 Accounts receivable, December 31 48,000 5,900 9,000 $54,000 10,000 8,000 $175,000 16,000 7,000 Rent Salaries Sales
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Cash payments for rent Rent expense 48000 Add Increase in prepaid rent 3100 Cash ...View the full answer
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Financial Accounting
ISBN: 9781118334324
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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