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Furst Ltd. had the following transactions Paid salaries of NT$140000 Issued 1000 shares of NT$10 par value ordinary shares for equipment worth NT$160000 Sold equipment cost NT$100

Furst Ltd. had the following transactions.

1. Paid salaries of NT$140,000.

2. Issued 1,000 shares of NT$10 par value ordinary shares for equipment worth

NT$160,000.

3. Sold equipment (cost NT$100,000, accumulated depreciation NT$60,000) for NT$30,000.

4. Sold land (cost NT$120,000) for NT$160,000.

5. Issued another 1,000 shares of NT$10 par ordinary shares for NT$180,000.

6. Recorded depreciation of NT$200,000.

Instructions

For each transaction above, (a) prepare the journal entry, and (b) indicate how it would affect the statement of cash flows. Assume the indirect method.

Jun 24 2020 View more View Less

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