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Class+review+problems+S - Classproblems Chapter 2 E2-18...

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Click to edit Master subtitle style 8/1/11 Class problems Chapter 2: E2-18; P2-3,4
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8/1/11 E2-18: Identifying Investing and Financing Activities  Affecting Cash Flows a. Reduction of long-term debt. a. Sale of land. a. Issuance of common stock. a. Capital expenditures (for property, plant, and equipment).
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8/1/11 P2-3: Recording Transactions in T-Accounts,  Preparing the Balance Sheet etc Cash $ 21,000 Intangibles $ 3,000 Investments (short-term) 2,000 Accounts payable 15,000 Accounts receivable 3,000 Accrued liabilities payable 2,000 Inventory 24,000 Notes payable (short-term) 7,000 Notes receivable (long-term) 1,000 Long-term notes payable 48,000 Equipment 48,000 Contributed capital 90,000 Factory building 90,000 Retained earnings 30,000
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8/1/11 T-account Cash Investments (short-term) Accounts Receivable Beg. 21,000 Beg. 2,000 Beg. 3,000 Inventory Notes Receivable (long-term) Beg. 24,000 Beg. 1,000 Equipment Factory Building Intangibles Beg. 48,000 Beg. 90,000 Beg. 3,000 Accounts Payable Accrued Liabilities Payable Notes Payable (short-term) 15,000 Beg. 2,000 Beg. 7,000 Beg. Long-Term Notes Payable Contributed Capital Retained Earnings 48,000 Beg. 90,000 Beg. 30,000 Beg.
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8/1/11
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