ACC 557 Week 9 Chapter 13 (E13 3,E13 4,E13 6,P13 3A)

ACC 557 Week 9 Chapter 13 (E13 3,E13 4,E13 6,P13 3A)


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Asked by 2 years ago
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EXERCISE 13-3

1.(a)Cash10,000

Loss on Disposal of Plant Assets2,000

Land12,000

(b)The cash receipt (10,000) is reported in the investing section. The loss (2,000) is added to net income in the operating section.

2.(a)Cash22,000

Common Stock22,000

(b)The cash receipt (22,000) is reported in the financing section.

3.(a)Depreciation Expense14,000

Accumulated Depreciation-

Buildings14,000

(b)Depreciation expense (14,000) is added to net income in the operating section.

4.(a)Salaries and Wages Expense7,000

Cash7,000

(b)Salaries and Wages expense is not reported separately on the statement of cash flows. It is part of the computation of net income in the income statement, and is included in the net income amount on the statement of...

ACC 557
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Answered by 2 years ago
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Oh Snap! This Answer is Locked

ACC 557 Week 9 Chapter 13 (E13 3,E13 4,E13 6,P13 3A)

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Excerpt from file: EXERCISE133 1. (a) Cash ..............................................................10,000 LossonDisposalofPlantAssets............................ Land................................................................ 2,000 12,000 (b)

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