A building with a cost of $800,000, and accumulated depreciation of $450,000, was sold at...
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Accounting
A building with a cost of $800,000, and accumulated depreciation of $450,000, was sold at a gain of $102,000. This transaction would be reported on a statement of cash flows using the indirect format as a(n):
$452,000 inflow from investing activities and an $102,000 deduction from net income
$902,000 inflow from investing activities and an $102,000 deduction from net income
$552,000 inflow from investing activities and an $102,000 deduction from net income
$452,000 inflow from investing activities and an $102,000 inflow added to operating activities
During the year, cash payments for wages totaled $1,300,000, while wages payable increased $80,000. Wages expense reported on the income statement equaled:
$1,380,000
$1,220,000
$1,300,000
Can't be determined from information given.
Cost of Goods Sold for the period totaled $1,200,000, accounts payable had a beginning and ending balance of $207,000 and $190,000, respectively, and inventory had a beginning and ending balance of $250,000 and $180,000, respectively. Cash payments for inventory were:
$1,147,000
$1,130,000
$1,200,000
$1,113,000
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