Statement of cash flows as rent paid using the direct method, Accounting Basics

+44 141 628 6080
[email protected]

Statement of cash flows as rent paid using the direct method

Ludwig Company's prepaid rent was $9,000 at December 31, 2010, and $13,000 at December 31, 2011. Ludwig reported rent expense of $19,000 on the 2011 income statement. What amount would be reported in the statement of cash flows as rent paid using the direct method?

A. $15,000.

B. $19,000.

C. $23,000.

D. None of the above is correct.

View Complete Question

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Statement of cash flows as rent paid using the direct method

Reference No:- TGS079288

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Accounting Basics

Q : Income tax payable for its first year of operations

Tringali's tax rate is 40%. Assume that no estimated taxes have been paid. What should Tringali report as income tax payable for its first year of operations?

Q : What deferred tax liability would isaac report

Ignoring operating expenses, what deferred tax liability would Isaac report in its year-end 2011 balance sheet?

Q : Woody pretax accounting income

Woody Corp. had taxable income of $8,000 in the current year. The amount of MACRS depreciation was $3,000 while the amount of depreciation reported in the income statement was $1,000. Assuming no other differences between tax and accounting income

Q : Statement of cash flows-direct method in the amount

On December 31, 2011, Wellstone Company reported net income of $70,000 and sales of $210,000. The company also reported beginning and ending accounts receivable at $20,000 and $25,000, respectively. Wellstone will report cash collected from custom

Q : Statement of cash flows as rent paid using the direct method

Q : Statement of cash-flow as insurance paid using direct method

Pickering Company's prepaid insurance was $8,000 at December 31, 2010, and $10,000 at December 31, 2011. Pickering reported insurance expense of $15,000 on the 2011 income statement. What amount would be reported in the statement of cash flows as

Q : Reported in a consolidated balance sheet

At the time, Rudd held land with a book value of $100,000 and a fair value of $260,000; Wilton held land with a book value of $50,000 and fair value of $600,000. Using the parent company theory, at what amount would land be reported in a consolida

Q : What portion of the loan should be eliminated

Spokane Corporation owns 95 percent of Seattle Corporation's outstanding common stock. Spokane loaned Seattle $100,000 on September 1, 2008, to be repaid three years later. What portion of the loan should be eliminated in preparation of the Decemb

Q : Income statement and subsidiary

In the consolidated income statement of Push Company and its subsidiary, Shove Corporation, the noncontrolling interest was assigned $24,000 of income for 2009. What amount of net income did Shove report for 2009 if Push owns 80 percent of Shove?

1951210

Questions
Asked

3,689

Active Tutors

1447475

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Statement of cash flows as rent paid using the direct method

Reference No:- TGS079288

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Income tax payable for its first year of operations

Q : What deferred tax liability would isaac report

Q : Woody pretax accounting income

Q : Statement of cash flows-direct method in the amount

Q : Statement of cash flows as rent paid using the direct method

Q : Statement of cash-flow as insurance paid using direct method

Q : Reported in a consolidated balance sheet

Q : What portion of the loan should be eliminated

Q : Income statement and subsidiary

Nurse is caring for a client who has a pneumothorax

What are the potential consequences of overusing antibiotics

What is the purpose of the uhdds definitions

What is the responsibility of coding professionals

Review the performance measures under each hedis domain

Caring for a client who has sickle cell disease

Which intervention help patient from experiencing heartburn

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Statement of cash flows as rent paid using the direct method

Reference No:- TGS079288

Recent Questions Asked Accounting Basics

Q : Income tax payable for its first year of operations

Q : What deferred tax liability would isaac report

Q : Woody pretax accounting income

Q : Statement of cash flows-direct method in the amount

Q : Statement of cash flows as rent paid using the direct method

Q : Statement of cash-flow as insurance paid using direct method

Q : Reported in a consolidated balance sheet

Q : What portion of the loan should be eliminated

Q : Income statement and subsidiary

Asked Questions