Question

ment CALCULATO Exercise 17-03 b (Essay) Cushenberry Corporation had the following transactions. 1. Sold land (cost $12,000) for $15,000. 2. Issued common stock at par for $20,000. 3. Recorded depreciation on buildings for $17,000. 4. Paid salaries of $9,000. 5. Issued 1,000 shares of $1 par value common stock for equipment worth $8,000. 6. Sold equipment (cost $10,000, accumulated depreciation $7,000) for $1,200. (b) For each transaction above indicate how it would affect the statement of cash flows using the indirect method. Click if you would like to Show Work for this question: Qen Show Work LINK TO TEXT By accessing this Question Assistance, you will learn while yolar inte haced on the point notential nat i n

Answer 1

Solution:

#	Particulars	Increase/ Decrease	Amount	Working
1	Operating activity	Decrease	3,000	Gain = 15,000 - 12,000
	Investing activity	Increase	15,000
2	Financing activity	Increase	20,000
3	Operating activity	Increase	17,000
4	No Effect in indirect method
5	No Effect
6	Investing activity	Increase	1,200
	Operating activity	Increase	1,800	Loss = 10,000-7,000-1,200