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Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281

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BuyFindarrow_forward

Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281
Textbook Problem
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Given the following information, convert Robin Company’s salaries expense from its income statement into payments to employees for its statement of cash flows.

Chapter 21, Problem 4RE, Given the following information, convert Robin Companys salaries expense from its income statement

To determine

Calculate the amount of cash paid for the employees (salaries expense).

Explanation

Payments to employees: payments to employees are salaries paid to employee by employer. It is a fixed amount of money paid to the employee in return to work performed.

Cash paid for salaries=[Salaries expense(+Decrease in salaries payableORIncrease in salaries payable)]

Calculate the amount of cash paid for the employees (salaries expense):

Cash paid for salaries= </

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