Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. in the previous year, a business associate withdre

In the previous year, a business associate withdrew 5,00,000 in cash from its current bank...

70.2K

Verified Solution

Question

Accounting

In the previous year, a business associate withdrew 5,00,000 in cash from its current bank account to pay a supplier who accepts payments in cash only. However, due to some personal emergency, the business associate could not meet the supplier for one quarter. As a result, the cash remained with him. How would you record this transaction in the cash flow statement?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

What are the differences between outcome objectives and communication objectives? Develop an example of each type of...

Operations Management
Q

(4) Consider a system described by the Hamiltonian H, H = 0 a a 0 !, where...

Physics
Q

In designing a work desk it is found that males have sitting knee heights with...

Statistics
Q

Identify the matrix A as a square matrix column matrix row matrix or neither and...

Algebra
Q

The tangent line to 2x2 6x 6 at x 2 is y 14x 2 y...

Algebra
Q

Jon Spelman issued $400,000 of 10%, 5-year bonds payable on January 1, 2016,...

Accounting
Q

Classification a. Unamortized premium on bonds payable, of which $3,000 will be amortized during...

Accounting
Q

Exercise 9-16(Algo) Flexible Budgets in a Cost Center [LO9-1, LO9-2] Packaging Solutions Corporation...

Accounting
Q

Beech Corporation is a merchandising company that is preparing a master budget for the third...

Accounting
Q

Pandora Corporation operates several factories in the Midwest that manufacture consumer electronics. The December 31,...

Accounting
Q

Question 4 Not yet answered Marked out of 10.00 P Flag question What is the...

Finance
Q

You are the president of Campus Sweaters, Inc. Campus Sweaters manufacturers wool pullover v-neck sweaters...

Accounting