Account - operating activities Cash paid to suppliers is Student Response Value Correct Answer Feedback 1 $29,000 2 $39,000 3 $23,000 0 4 $33,000

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Use the following selected account balances from the financial statements of the Washington Company to answer Questions 68 and 69: Accounts Receivable, Jan. 1 $13,000 Accounts Receivable, Dec. 31 9,000 Accounts Payable, Jan 1 4,000 Accounts payable Dec. 31 7,000 Merchandise Inventory, Jan 1 10,000 Merchandise Inventory, Dec 31 15,000 Sales 56,000 Cost of Goods Sold 31,000 The Washington Company uses the direct method to calculate net cash flow from
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Unformatted text preview: operating activities. Cash paid to suppliers is Student Response Value Correct Answer Feedback 1. $29,000 2. $39,000 3. $23,000 0% 4. $33,000 Correct Answer 310000+5000-3000=33000 If $475,000 of bonds payable are sold at 101, $475,000 would be reported in the cash flows from financing activities section of the statement of cash flows. F 475,000x1.01=479,750...
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This note was uploaded on 06/04/2011 for the course ACCOUNTING 1b taught by Professor Warshom during the Spring '11 term at Riverside Community College.

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