Selected accounts of Roosevelt Framing Company 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 15,000 Salary expense |Ending bal 11,000 32,000 Payments 28,000 Buildings Beginning bal Acquisitions with cash 75,000 Depreciation 116,000 Book value of building sold 17,000 88,000* Ending bal 86,000 *Sale price was $120,000. Notes Payable Beginning bal 54,000 Issuance of note payable for cash |Ending bal 183,000 Payments 68,000 197,000