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Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 14ISBN: 978-1305653535Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 14ISBN: 978-1305653535 Exercise 52
Cash payments for merchandise-direct method
The cost of goods sold reported on the income statement was $240,000. The accounts payable balance increased $12,000, and the inventory balance increased by $19,200 over the year. Determine the amount of cash paid for merchandise.
The cost of goods sold reported on the income statement was $240,000. The accounts payable balance increased $12,000, and the inventory balance increased by $19,200 over the year. Determine the amount of cash paid for merchandise.
Explanation
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Statement of cash flows refers to the st...
Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
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