What was the balance in interest payable? Hawk, Inc. reported on its 2022 Statement of Cash Flowsthat it paid $95,400 for interest. The company reported$107,200 of Interest Expense on the 2022 IncomeStatement. The balance in Interest Payable on the 2022Balance Sheet was $16,800.What was the balance in Interest Payable on the 2021Balance Sheet?a) $5,000b) $6,400c) $16,800d) $27,000e) Unable to tell from the information given.

Explanation of Interest Payable:Interest payable refers to the amount of interest a company owes to…

Answered: Hawk, Inc. reported on its 2022…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 32BE

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Hawk, Inc. reported on its 2022 Statement of Cash Flows that it paid $95,400 for interest. The company reported $107,200 of Interest Expense on the 2022 Income Statement. The balance in Interest Payable on the 2022 Balance Sheet was $16,800. What was the balance in Interest Payable on the 2021 Balance Sheet? a) $5,000 b) $6,400 c) $16,800 d) $27,000 e) Unable to tell from the information given.
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Splish Company reported 2020 net income of $154,400. During 2020, accounts receivable increased by $15,690 and accounts payable increased by $9,962. Depreciation expense was $48,400. Prepare the cash flows from operating activities section of the statement of cash flows. (Show amounts that decrease cash flow with either a - sign eg. -15,000 or in parenthesis e.g. (15,000).) SPLISH COMPANY Cash Flow Statement Adjustments to reconcile net income to %24
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