can you give me the answer and explain why?also can you explain
why A is incorrect. thx
Homework Answers
Answer
- Correct Answer = Option ‘E’ None of the choices are correct.
- Net Cash provided by Operating activities includes ONLY cash transaction that are related to general operation of business.
- Transactions like purchase of equipment (investing), payment of dividends (financing), depreciation expense (non cash) are not operating activities Cash transaction.
- Hence, correct net cash provided by Operating activities
= $ 140000 collected from customer - $ 90000 paid for salaries – $ 10000 paid for utilities
= $ 40,000 - $ 40000 is not matching any of the Options.
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can you give me the answer and explain why?also can you explain
why A is incorrect....
Can you answer that for me and explain why? 24. A Company recorded the following cash...
Can you answer that for me and explain why?
24. A Company recorded the following cash transactions for the year: Paid $90,000 for salaries. Paid $40,000 to purchase office equipment. Paid $10,000 for utilities. Paid $4,000 in dividends. Collected $140,000 from customers. Recorded $3,000 in depreciation expense. What was the net cash provided by operating activities? $37,000. A. $0. ($3,000). $50,000. None of the choices are correct.
can you give me the answer and explain why?also can you explain why E is incorrect....
can you give me the answer and explain why?also can you explain
why E is incorrect. thx
29. In recording accounting transactions in a double-entry system: There can only be two accounts recorded in any transaction. To accurately reflect a company's financial position, the two sides of the accounting equation must always stay in balance. The double-entry system assures that no mistakes are recorded during the year. There must always be entries made on both sides of the balance sheet...
can you give me the answer and explain why?also can you explain why B is incorrect....
can you give me the answer and explain why?also can you explain
why B is incorrect. thx
21. Which of the following is an attribute of the corporate form of business ownership? Unlimited liability. Higher tax rates. Limited resources. Difficulty in transferring ownership. None of the choices are correct.
can you give me the answer and explain why?also can you explain why A is incorrect....
can you give me the answer and explain why?also can you explain
why A is incorrect. thx
27. What statement(s) is/are correct concerning the Income Statement? The net income reported on the Income Statement usually equals the same net amount of operating cash flow for the period if the company uses the accrual basis of accounting The Income Statement must be prepared first in order to include the net income for the period when updating the retained earnings account at...
can you give me the answer and explain why?also can you explain why C is incorrect....
can you give me the answer and explain why?also can you explain
why C is incorrect. thx
26. | A corporation purchases land for $200,000 by paying a down payment of $20,000 and by signing a note payable for the remainder of the purchase price. Which of the following statements correctly shows the effect of this transaction on the accounting equation? Assets will increase by $200,000; liabilities will increase by $180,000 and stockholders' equity will increase by $20,000. Assets will...
Multiple Choice Question 94 Vaughn Manufacturing recorded the following cash transactions for the year: Paid $142500...
Multiple Choice Question 94 Vaughn Manufacturing recorded the following cash transactions for the year: Paid $142500 for salaries. Paid $58400 to purchase office equipment. Paid $15300 for utilities. Paid $5000 in dividends. Collected $290000 from customers. What was Vaughn's net cash provided by operating activities? O $127200 $73800 $147500 $132200
QUESTION 11 Gibson Company recorded the following cash transactions for the year: Paid $180,000 for salaries....
QUESTION 11 Gibson Company recorded the following cash transactions for the year: Paid $180,000 for salaries. Paid $80,000 to purchase office equipment. Paid $20,000 for utilities. Paid $8,000 in dividends. Collected $350,000 from customers. What was Gibson's net cash provided by operating activities? O A. $170,000 OB. $150,000 O C. $142,000 OD. $70,000
Can you answer that for me and explain why? 12. A company earns $40,000 by providing...
Can you answer that for me and explain why?
12. A company earns $40,000 by providing services in the current period for cash that was received in a prior period. In posting this transaction to the T-accounts, which of the following will be required? | Post $40,000 on the left side of the Cash T-account. Post $40,000 on the left side of the Deferred Revenue T-account. Post $40,000 on the right side of the Deferred Revenue T-account. Post $40,000 on...
Can you answer that for me and explain why? 17. A. The principal of revenue recognition...
Can you answer that for me and explain why?
17. A. The principal of revenue recognition in accounting refers to: Revenue should be recognized in the period payments are received. The cash basis of accounting. | Revenue is recorded when the company is assured that payment will be received in the future for services rendered. | Revenue is recognized in the period services have been performed. None of the choices are correct. E.
Assignment rt Time: 09:46 PM/ Remaining: 104 min CES Multiple Choice Question 94 Nash's Trading Post,...
Assignment rt Time: 09:46 PM/ Remaining: 104 min CES Multiple Choice Question 94 Nash's Trading Post, LLC recorded the following cash transactions for the year: Paid $130000 for salaries. Paid $55000 to purchase office equipment. Paid $14000 for utilities. Paid $5000 in dividends Collected $275000 from customers. What was Nash's,LLC net cash provided by operating activities? $145000 $76000 O $126000 $131000 Click if you would like to Show Work for this question: Qen Show Work
Can you answer that for me and explain why?
24. A Company recorded the following cash transactions for the year: Paid $90,000 for salaries. Paid $40,000 to purchase office equipment. Paid $10,000 for utilities. Paid $4,000 in dividends. Collected $140,000 from customers. Recorded $3,000 in depreciation expense. What was the net cash provided by operating activities? $37,000. A. $0. ($3,000). $50,000. None of the choices are correct.
can you give me the answer and explain why?also can you explain
why E is incorrect. thx
29. In recording accounting transactions in a double-entry system: There can only be two accounts recorded in any transaction. To accurately reflect a company's financial position, the two sides of the accounting equation must always stay in balance. The double-entry system assures that no mistakes are recorded during the year. There must always be entries made on both sides of the balance sheet...
can you give me the answer and explain why?also can you explain
why B is incorrect. thx
21. Which of the following is an attribute of the corporate form of business ownership? Unlimited liability. Higher tax rates. Limited resources. Difficulty in transferring ownership. None of the choices are correct.
can you give me the answer and explain why?also can you explain
why A is incorrect. thx
27. What statement(s) is/are correct concerning the Income Statement? The net income reported on the Income Statement usually equals the same net amount of operating cash flow for the period if the company uses the accrual basis of accounting The Income Statement must be prepared first in order to include the net income for the period when updating the retained earnings account at...
can you give me the answer and explain why?also can you explain
why C is incorrect. thx
26. | A corporation purchases land for $200,000 by paying a down payment of $20,000 and by signing a note payable for the remainder of the purchase price. Which of the following statements correctly shows the effect of this transaction on the accounting equation? Assets will increase by $200,000; liabilities will increase by $180,000 and stockholders' equity will increase by $20,000. Assets will...
Multiple Choice Question 94 Vaughn Manufacturing recorded the following cash transactions for the year: Paid $142500 for salaries. Paid $58400 to purchase office equipment. Paid $15300 for utilities. Paid $5000 in dividends. Collected $290000 from customers. What was Vaughn's net cash provided by operating activities? O $127200 $73800 $147500 $132200
QUESTION 11 Gibson Company recorded the following cash transactions for the year: Paid $180,000 for salaries. Paid $80,000 to purchase office equipment. Paid $20,000 for utilities. Paid $8,000 in dividends. Collected $350,000 from customers. What was Gibson's net cash provided by operating activities? O A. $170,000 OB. $150,000 O C. $142,000 OD. $70,000
Can you answer that for me and explain why?
12. A company earns $40,000 by providing services in the current period for cash that was received in a prior period. In posting this transaction to the T-accounts, which of the following will be required? | Post $40,000 on the left side of the Cash T-account. Post $40,000 on the left side of the Deferred Revenue T-account. Post $40,000 on the right side of the Deferred Revenue T-account. Post $40,000 on...
Can you answer that for me and explain why?
17. A. The principal of revenue recognition in accounting refers to: Revenue should be recognized in the period payments are received. The cash basis of accounting. | Revenue is recorded when the company is assured that payment will be received in the future for services rendered. | Revenue is recognized in the period services have been performed. None of the choices are correct. E.
Assignment rt Time: 09:46 PM/ Remaining: 104 min CES Multiple Choice Question 94 Nash's Trading Post, LLC recorded the following cash transactions for the year: Paid $130000 for salaries. Paid $55000 to purchase office equipment. Paid $14000 for utilities. Paid $5000 in dividends Collected $275000 from customers. What was Nash's,LLC net cash provided by operating activities? $145000 $76000 O $126000 $131000 Click if you would like to Show Work for this question: Qen Show Work
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