Homework Answers
Schedule of noncash investing or financing activity
These types of activity are reported in Schedule of noncash investing or financing activity, where cash or cash equivalent are not involved.
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A Company obtains land by issuing a note payable for the full purchase price to the...
Additional Information for 2022: Land of $700,000 was obtained by issuing a note payable to the...
Additional Information for 2022:
Land of $700,000 was obtained by issuing a note payable to the
seller.
Buildings of $860,000 and equipment of $32,600 were purchased
using cash.
Monthly payments during the year reduced notes payable by
$8,563.
Issued common stock for $1,200,000.
Purchased 12,000 shares of treasury stock for $25 per
share.
Sold 6,000 shares of treasury stock at $26 per share.
Declared and paid a cash dividend of $13,800.
Required:
Prepare the statement of cash flows for the...
Reporting Land Acquisition for Cash and Mortgage Note on Statement of Cash Flows On the basis...
Reporting Land Acquisition for Cash and Mortgage Note on Statement of Cash Flows On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of cash flows: ACCOUNT Land ACCOUNT NO. Balance Date Item Debit Credit Jan. 1 | Balance Feb. 10 Purchased for cash Nov. 20 Purchased with long-term mortgage note LI DO US 191 os 50 888 Amount Ole $-312,800 1 Report only X $-417,900 X Item Section...
Can someone help me answer questions 2-5? 2.The acquisition of land by issuing common stock is...
Can someone help me answer questions 2-5?
2.The acquisition of land by issuing common stock is a. a noncash transaction which is reported in a separate note. b. a cash transaction and would be reported in the body of a statement of cash flows. c. a noncash transaction and would not be disclosed. d. only reported if the statement of cash flows is prepared using the direct method. 3. Wilton Company reported net income of $50,000 for the year. During...
Which of the following represents an inflow of cash and therefore would be reported on the...
Which of the following represents an inflow of cash and therefore would be reported on the statement of cash flows? Select one: a. acquiring of treasury stock b. issuing long-term debt c. declaring stock dividends d. retiring of bond payable A five-year bond was issued at par for $640,000 cash. This transaction should be shown on a statement of cash flows under Select one: a. noncash activities b. operating activities c. financing activities d. investing activities Which of the following...
Which of the following is a noncash investing and financing activity? payment of a cash dividend...
Which of the following is a noncash investing and financing activity? payment of a cash dividend payment of a six-month note payable purchase of merchandise inventory on account d i nce of common stock to acquire Land 10. A company purchases equipement for $32,000 cash. This transaction should be shown on the statement of cash flows under a investing activities h financing activities C oncach investing and financing activities d. operating activities 11. Cash flow per share is a required...
whats right answer? The appropriate section in the statement of cash flows for reporting the purchase...
whats right answer?
The appropriate section in the statement of cash flows for reporting the purchase of a new building is O Operating activities. O Financing activities. Investing activities. O Schedule of noncash investing or financing activity. O This is not reported on the statement of cash flows.
Calculator Which of the following is a noncash investing and financing activity? Opayment of a six-month...
Calculator Which of the following is a noncash investing and financing activity? Opayment of a six-month note payable issuance of common stock to acquire land purchase of inventory on account Opayment of a cash dividend Calculator A company purchases equipment for $32,000 cash. This transaction should be shown on the statement of cash flows under Oa. investing activities. Ob. noncash investing and financing activities. Oc. financing activities. Od. operating activities. Calculator Assume the following sales data for a company: $730,280...
JULIUCULTICserIDUUNIS Sed Help Save & Exit Slide 10 10 of 13 chapter 12: Reporting Cash Flows...
JULIUCULTICserIDUUNIS Sed Help Save & Exit Slide 10 10 of 13 chapter 12: Reporting Cash Flows Distinguish between operating, investing, and financing activities, and describe how noncash investing and financing activities are disclosed. Knowledge Check 02 The following transactions and events occurred during the year. Indicate how each transaction would appear on its statement of cash flows by selecting an appropriate category Collected cash from sale of equipment, Select Collected cash from customers on account select Operating Activity Investing Activity...
Which section in the statement of cash flows would a company report the purchase of a...
Which section in the statement of cash flows would a company report the purchase of a building for cash? Multiple Choice Operating activities Financing activities. Schedule of noncosh investing or financing activity, Investing activities o This is not reported on the statement of cash flows.
The income statement, balance sheets, and additional information for Video Phones, Inc., are provided. Additional Information...
The income statement, balance sheets, and additional information
for Video Phones, Inc., are provided.
Additional Information for 2018:
1. Purchase investment in bonds for $100,000.
2. Sell land costing $25,000 for only $17,500, resulting in a
$7,500 loss on sale of land.
3. Purchase $55,000 in equipment by issuing a $55,000 long-term
note payable to the seller. No cash is exchanged in the
transaction.
4. Declare and pay a cash dividend of $22,500.
Required:
Prepare the statement of cash...
Additional Information for 2022:
Land of $700,000 was obtained by issuing a note payable to the
seller.
Buildings of $860,000 and equipment of $32,600 were purchased
using cash.
Monthly payments during the year reduced notes payable by
$8,563.
Issued common stock for $1,200,000.
Purchased 12,000 shares of treasury stock for $25 per
share.
Sold 6,000 shares of treasury stock at $26 per share.
Declared and paid a cash dividend of $13,800.
Required:
Prepare the statement of cash flows for the...
Reporting Land Acquisition for Cash and Mortgage Note on Statement of Cash Flows On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of cash flows: ACCOUNT Land ACCOUNT NO. Balance Date Item Debit Credit Jan. 1 | Balance Feb. 10 Purchased for cash Nov. 20 Purchased with long-term mortgage note LI DO US 191 os 50 888 Amount Ole $-312,800 1 Report only X $-417,900 X Item Section...
Can someone help me answer questions 2-5?
2.The acquisition of land by issuing common stock is a. a noncash transaction which is reported in a separate note. b. a cash transaction and would be reported in the body of a statement of cash flows. c. a noncash transaction and would not be disclosed. d. only reported if the statement of cash flows is prepared using the direct method. 3. Wilton Company reported net income of $50,000 for the year. During...
Which of the following is a noncash investing and financing activity? payment of a cash dividend payment of a six-month note payable purchase of merchandise inventory on account d i nce of common stock to acquire Land 10. A company purchases equipement for $32,000 cash. This transaction should be shown on the statement of cash flows under a investing activities h financing activities C oncach investing and financing activities d. operating activities 11. Cash flow per share is a required...
whats right answer?
The appropriate section in the statement of cash flows for reporting the purchase of a new building is O Operating activities. O Financing activities. Investing activities. O Schedule of noncash investing or financing activity. O This is not reported on the statement of cash flows.
Calculator Which of the following is a noncash investing and financing activity? Opayment of a six-month note payable issuance of common stock to acquire land purchase of inventory on account Opayment of a cash dividend Calculator A company purchases equipment for $32,000 cash. This transaction should be shown on the statement of cash flows under Oa. investing activities. Ob. noncash investing and financing activities. Oc. financing activities. Od. operating activities. Calculator Assume the following sales data for a company: $730,280...
JULIUCULTICserIDUUNIS Sed Help Save & Exit Slide 10 10 of 13 chapter 12: Reporting Cash Flows Distinguish between operating, investing, and financing activities, and describe how noncash investing and financing activities are disclosed. Knowledge Check 02 The following transactions and events occurred during the year. Indicate how each transaction would appear on its statement of cash flows by selecting an appropriate category Collected cash from sale of equipment, Select Collected cash from customers on account select Operating Activity Investing Activity...
Which section in the statement of cash flows would a company report the purchase of a building for cash? Multiple Choice Operating activities Financing activities. Schedule of noncosh investing or financing activity, Investing activities o This is not reported on the statement of cash flows.
The income statement, balance sheets, and additional information
for Video Phones, Inc., are provided.
Additional Information for 2018:
1. Purchase investment in bonds for $100,000.
2. Sell land costing $25,000 for only $17,500, resulting in a
$7,500 loss on sale of land.
3. Purchase $55,000 in equipment by issuing a $55,000 long-term
note payable to the seller. No cash is exchanged in the
transaction.
4. Declare and pay a cash dividend of $22,500.
Required:
Prepare the statement of cash...
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