Refer to General Mills's statement of cash flows for the year ended May 30, 2010, as reproduced
Question:
Refer to General Mills's statement of cash flows for the year ended May 30, 2010, as reproduced at the end of the book.
Required
1. What amount did the company spend on purchases of land, buildings, and equipment during the year? Determine the effect on the accounting equation from these purchases.
2. What amount did the company pay to retire long-term debt during the year? Determine the effect on the accounting equation from the retirement of debt.
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Related Book For
Using Financial Accounting Information The Alternative to Debits and Credits
ISBN: 978-1111534912
8th edition
Authors: Gary A. Porter, Curtis L. Norton
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