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

Calculus
1.2K views

Vectors t = -6i - 2j, u = -4i - 8j, and v = ?4i...

Chemistry
1.2K views

Question 260.4 pts Arrange the following elements, Se, Ca, Ar, Cs, Ge in order of increasing first...

Biology
1.2K views

Describe & diagram a basic bacteriophage reproductive cycle. How does this compare to infection by animal...

Geometry
1.2K views

x 1 7 in T 6 in What is the volume of a right rectangular...

Basic Math
1.2K views

Solve the following system of equations graphically.x+y-4 = 0-x-y=0The solution lies in quadrant.llIIIIIV

Basic Math
1.2K views

There are 14 members of the scholastic bowl team, 8 of whom are boys and...

Statistics
1.2K views

The accompanying dotplot shows the carbohydrate content of 77 breakfast cereals in grams Complete parts...

Accounting
1.2K views

Depreciation Expense Using the Units-of-Production Method The Likert Company is a coal company based...

Accounting
1.2K views

Job Order Costing The Jeep Company uses a job-order cost system. The following information was...

Accounting
1.2K views

Volunteer Corporation reported taxable income of $525,000 from operations this year. The company paid federal...

Finance
1.2K views

which of the following item is not typically reported in the statement of comprehensive income...

Accounting
1.2K views

Look at the table below and indicate which applies. The first column should only have...