Cushenberry Corporation had the following transactions. 1. 2. 3. 4. 5. 6. Sold land (cost $12,000) for $15,000. Issued common stock at par for $20,000. Recorded depreciation on buildings for $17,000. Paid salaries of $9,000. Issued 1,000 shares of $1 par value common stock for equipment worth $8,000. Sold equipment (cost $10,000, accumulated depreciation $7,000) for $1,200. (b) For each transaction above indicate how it would affect the statement of cash flows using the indirect method.

Cushenberry Corporation had the following transactions. 1. 2. 3. 4. 5. 6. Sold land (cost $12,000) for $15,000. Issued common stock at par for $20,000. Recorded depreciation on buildings for $17,000. Paid salaries of $9,000. Issued 1,000 shares of $1 par value common stock for equipment worth $8,000. Sold equipment (cost $10,000, accumulated depreciation $7,000) for $1,200. (b) For each transaction above indicate how it would affect the statement of cash flows using the indirect method.

Name: Cushenberry Corporation had the following transactions.Sold land (cos
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Description: Cushenberry Corporation had the following transactions.Sold land (cost $12,000) for $15,000.Issued common stock at par for $20,000.Recorded depreciation on buildings for $17,000.Paid salaries of $9,000.Issued 1,000 shares of $1 par value common stoc

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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