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Fast2F Fast2F
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6 years ago
The cash flows from operating activities are reported by the direct method on the statement of cash flows. Determine the following:
a. If accrued expenses showed $50,000 on the income statement and payables increased from $15,000 to $18,500 on the balance sheet, what was the amount of cash paid?
b. If insurance expense showed $10,000 on the income statement and Prepaid Insurance increased from $10,000 to $12,000 on the balance sheet, what was the amount of cash paid for insurance?
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
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keytwokeytwo
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Fast2F Author
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#2
6 years ago
Correcttttt
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