Reference no: EM131219351
Cushenberry Corporation had the following transactions.
Sold land (cost $12,000) for $15,000.
Issued common stock at par for $20,000.
Recorded depreciation on buildings for $17,000.
Paid salaries of $9,000.
Issued 1,000 shares of $1 par value common stock for equipment worth $8,000.
Sold equipment (cost $10,000, accumulated depreciation $7,000) for $1,200.
Instructions
For each transaction above, (a) prepare the journal entry, and (b) indicate how it would affect the statement of cash flows using the indirect method.
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: Cushenberry Corporation had the following transactions. For each transaction above, (a) prepare the journal entry, and (b) indicate how it would affect the statement of cash flows using the indirect method.
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