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MrRissso [65]
3 years ago
10

The following information pertains to Ash Co., which prepares its statement of cash flows using the indirect method: Interest pa

yable at beginning of year $15,000 Interest expense during the year 20,000 Interest payable at end of year 5,000 What amount of interest should Ash report as a supplemental disclosure of cash flow information?
Business
1 answer:
Alborosie3 years ago
6 0

Answer:

$30,000

Explanation:

A supplemental disclosure of cash flow information requires that all the cash paid  in interest during the period must be disclosed.

In Ash's case:

beginning balance interest payable account    $15,000

+ interest expense during the year                    $20,000

<u>- ending balance interest payable account       ($5,000)  </u>

supplemental disclosure =                                  $30,000      

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