ACC 560 Week 10 Homework Chapter 14( E14-4, E14-7, E14-11)
( h) Recorded sales on account.( i) Purchased inventory for cash.( j) Purchased inventory on account.
Instructions
Complete the table indicating whether each item( 1) affects operating( O) activities, investing( I) activities, financing( F) activities, or is a noncash( NC) transaction reported in a separate schedule, and( 2) represents a cash inflow or cash outflow or has no cash flow effect. Assume use of the indirect approach.
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ACC 560 Week 10 Homework Chapter 14( E14-4, E14-7, E14-11)
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E14-4
The comparative condensed income statements of Emley Corporation are shown below.
EMLEY CORPORATION Comparative Condensed Income Statements For the Years Ended December 31