A firm reports $43,000 advertising expense in its income statement. Beginning and ending prepaid advertising expenses are
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Question:
A firm reports $43,000 advertising expense in its income statement. Beginning and ending prepaid advertising expenses are $6,000 and $7,600, respectively.
What is the amount of cash paid for advertising? Note: your answer should be formatted as a whole number without currency symbols or punctuation.
What dollar adjustment is needed in the operating section of the cash flow statement under the indirect method? If the adjustment is a subtraction, indicate so with a negative number. Note: your answer should be formatted as a whole number without currency symbols or punctuation.
Related Book For
Financial Accounting
ISBN: 9781618533111
6th Edition
Authors: Michelle L. Hanlon, Robert P. Magee, Glenn M. Pfeiffer, Thomas R. Dyckman
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