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FINANCIAL ACCOUNTING
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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ered) E3rd Quarter: FA2 Week CON9uosQsKA/formResponse Accounts Payable Equipment Indicate whether each account that follows would be shown on the income statement(IS), the statement of owner's equity (OE), or the balance sheet (BS). * IS OE BS Commissions Earned Automobile Utilities Expense Land Supplies Expense Accounts Payable Withdrawals. Assuming the indirect method is used to prepare the statement of cash flows, tell whether each of the following items would be reported (A) in cash flows from operating activities, (B) in cash flows from investing activities, (C) in cash flows from financing activities, (D) in the schedule of noncash investing and financing transactions, or (E) not on the statement of cash flows at all: * A C D
Transcribed Image Text:ered) E3rd Quarter: FA2 Week CON9uosQsKA/formResponse Accounts Payable Equipment Indicate whether each account that follows would be shown on the income statement(IS), the statement of owner's equity (OE), or the balance sheet (BS). * IS OE BS Commissions Earned Automobile Utilities Expense Land Supplies Expense Accounts Payable Withdrawals. Assuming the indirect method is used to prepare the statement of cash flows, tell whether each of the following items would be reported (A) in cash flows from operating activities, (B) in cash flows from investing activities, (C) in cash flows from financing activities, (D) in the schedule of noncash investing and financing transactions, or (E) not on the statement of cash flows at all: * A C D
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