Given the following information, what is Bahringer Inc's change in cash?Issued stock in exchange for land worth $72,000• Sold inventory for $370,000. Half of the sales were on account. Inventory sold cost $240,000. Inventory waspurchased on account.• Paid wages payable of $30,000 in cashSold equipment with a net book value of $14,500 for $12,000 cash.167,000Bahringer Inc's change in cash:positive and decreases in cash are negative.Enter your answer such that increases in cash are

Accounting equation is a mathematical equation that shows relationship between assets, liabilities…

Answered: e negative. Enter your answer such that…

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e negative. Enter your answer such that increases in cash are

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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Concept explainers

Cash Book

So, before coming to the topic of cash books, I will let you briefly explain about the cash so that you all can be familiar with the word cash. Cash comes under the category of the current asset which is used as a medium of exchange for all the financial transactions in the firm. Cash is something that is universally accepted as a mode of payment. So, now comes to the topic i.e., cash book.

Question

Given the following information, what is Bahringer Inc's change in cash?
Issued stock in exchange for land worth $72,000
• Sold inventory for $370,000. Half of the sales were on account. Inventory sold cost $240,000. Inventory was
purchased on account.
• Paid wages payable of $30,000 in cash
Sold equipment with a net book value of $14,500 for $12,000 cash
.
167,000
Bahringer Inc's change in cash:
positive and decreases in cash are negative.
Enter your answer such that increases in cash are

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