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Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
Edition 3ISBN: 978-0132962339Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
Edition 3ISBN: 978-0132962339 Exercise 52
Computing cash flow items-direct method
Superb Mobile Homes reported the following in its financial statements for the year ended December 31, 2012:
Requirement
1. Determine the following for Superb Mobile Homes during 2012:
a. Collections from customers.
b. Payments for inventory.
c. Payments of operating expenses.
d. Acquisitions of property and equipment (no sales of property during 2012).
e. Borrowing, with Superb paying no long-term liabilities.
f. Cash receipt from issuance of common stock.
g. Payment of cash dividends.
Superb Mobile Homes reported the following in its financial statements for the year ended December 31, 2012:
Requirement
1. Determine the following for Superb Mobile Homes during 2012:
a. Collections from customers.
b. Payments for inventory.
c. Payments of operating expenses.
d. Acquisitions of property and equipment (no sales of property during 2012).
e. Borrowing, with Superb paying no long-term liabilities.
f. Cash receipt from issuance of common stock.
g. Payment of cash dividends.
Explanation
Verified
Verified
b.
We know that Cost of goods sold was $...
Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
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