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Concept explainers
1.
State the basic reporting approach used by Company L for the
2.
Compute the amount of cash received from the issuance of long-term debt during the year ended February 3, 2017 by Company L. State the amount of cash that the company used to repay the long-term debt during the same year and describe the net difference between these inflows and outflows. Compare the net inflow or outflow of cash for long-term debt for Fiscal 2016 of Company L and Incorporation HD.
3.
State the amounts of money spent by Company L during the year ended February 3, 2017 and list the two largest cash outflows reported in the investing and financing activities sections of Company L and the manner in which it differs from that of Incorporation HD for the same period.
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Chapter 12 Solutions
Loose Leaf For Fundamentals Of Financial Accounting
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