For each of the transactions described below, indicate whether the business activity is an example of...
For each of the transactions described below, indicate whether the business activity is an example of an operating, investing, and financing activity.
a) received cash from investors in exchange for common stock
b) received a loan from the bank for the purpose of buying construction equipment
c) purchased construction equipment
d) provided construction services to local clients
e) paid wages to construction workers
f) paid back the principal on the loan from the bank
g) paid investors a dividend
h) purchased office supplies
Homework Answers
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For each of the transactions described below, indicate whether
the business activity is an example of...
Problem III: The following are typical business activities for Triangle Construction Inc., a local building contractor....
Problem III: The following are typical business
activities for Triangle Construction Inc., a local building
contractor. For each of the transactions described below, indicate
whether the business activity is an example of an
operating (O), investing
(I), or financing
(F) activity.
Paid back the principal on the loan from the bank. Paid investors a dividend. Purchased office supplies.
For each of the following transactions, indicate whether the cash flow is an operating, investing, or...
For each of the following transactions, indicate whether the cash flow is an operating, investing, or financing activity for purposes of preparing a statement of cash flows. In addition, be specific with respect to whether the activity leads to an inflow of cash or an outflow of cash from the company's perspective. A company pays salaries to employees. Choose... A company receives cash for services it will perform in the future. Choose... A company pays back the principal on a...
P1-1A Below are typical transactions for Hewlett-Packard. Type of Business Activity Transactions Pay amount owed to...
P1-1A Below are typical transactions for Hewlett-Packard. Type of Business Activity Transactions Pay amount owed to the bank for previous borrowing. Pay utility costs. Purchase equipment to be used in operations. Provide services to customers. Purchase office supplies. Purchase a building. Pay workers' salaries. Pay for research and development costs. Pay taxes to the IRS." Sell common stock to investors. Required: Indicate whether each transaction is classified as a financing, investing, or operating activity.
Tabares Corporation had these transactions during 2020. Indicate whether each transaction is an operating activity, investing...
Tabares Corporation had these transactions during 2020. Indicate whether each transaction is an operating activity, investing activity, financing activity, or noncash investing and financing activity. (a) Issued $50,000 par value common stock for cash. (b) Purchased a machine for $30,000, giving a long-term note in exchange. (c) Issued $200,000 par value common stock upon conversion of bonds having a face value of $200,000. (d) Declared and paid a cash dividend of $18,000. (e) Sold a long-term investment with a cost...
Classify each of the following events as an Operating Activity (OA), Investing Activity (1A), Financing Activity...
Classify each of the following events as an Operating Activity (OA), Investing Activity (1A), Financing Activity (FA), or not applicable (NA) on the statement of cash flows: (1) Perfomed services for $25,000 cash (2) Purchased land for $9,000 cash (3) Received $100,000 from the issuance of common stock (4) Paid $14,000 cash for salary expense (5) Sold land for $8,000 cash (6) Earned $25,000 of service revenue on account (7) Paid a $3,500 cash dividend (8) Collected $14,000 of the...
For each of the items below, indicate whether it is (1) a cash flow from an...
For each of the items below, indicate whether it is (1) a cash flow from an operating activity, (2) a cash flow from an investing activity, (3) a cash flow from a financing activity, (4) a noncash investing and financing activity, or (5) none of the above. a. Paid cash to retire bonds payable at a loss. b. Received cash as settlement of a lawsuit. c. Acquired a patent in exchange for common stock. d. Received advance payments from customers...
ament CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Analyze the transactions of a business organized as...
ament CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Analyze the transactions of a business organized as a proprietorship described below and indicate whether the transaction increased, decreased or increased and decreased the accounting equation. Owner's Equity Assets Liabilities Decreased Increased 1. Received cash for services rendered Increase Decreased - 2. Purchased office equipment on credit Increased Decreased 3. Paid employees salaries. Decreased increased Received cash from customer in payment on account Decreased d 5. Paid telephone bill for the month....
Motif Furniture designs and sells modern furniture. For each of the following first-quarter transactions, indicate whether...
Motif Furniture designs and sells modern furniture. For each of the following first-quarter transactions, indicate whether operating (O), investing (), or financing activities (F) are affected and whether the effect is a cash inflow (+) or outflow (-). Activity Cash Flow 1. Bought used equipment for cash 2 Paid cash to purchase new equipment 3. Declared and paid cash dividends to shareholders 4. Collected payments on account from customers 5. Recorded an adjusting entry to record accrued salaries expense Recorded...
2. Indicate whether the transaction is a financing, investing, or operating activity a. Compton purchased a...
2. Indicate whether the transaction is a financing, investing, or operating activity a. Compton purchased a tract of land from Jacobsen Real Estate for $1,001,000 cash. b. Compton issued 2,000 shares of its common stock to George Micros in exchange for $110,000 cash. C. Compton purchased a John Deere tractor for $56,000 on credit d. Michael Rotunno paid Compton $9,200 cash for services performed. The services had been performed by Compton several months ago for a total price of $11,700...
For each of the items, indicate the type of business activity-operating, investing, or financing. Type of...
For each of the items, indicate the type of business activity-operating, investing, or financing. Type of Activity 1. Purchase of goods for resale Operating 2. Issue of common shares 3. Sale of equipment that the company has finished using 4. Receipt of bank loan 5. Purchase of long-term investment 6. Purchase of equipment 7. Sale of merchandise to customers 8. Payment of salaries to employees 9. Sale of long-term investment 10. Repayment of loan owed to bank 11. Payment of...
Problem III: The following are typical business
activities for Triangle Construction Inc., a local building
contractor. For each of the transactions described below, indicate
whether the business activity is an example of an
operating (O), investing
(I), or financing
(F) activity.
Paid back the principal on the loan from the bank. Paid investors a dividend. Purchased office supplies.
For each of the following transactions, indicate whether the cash flow is an operating, investing, or financing activity for purposes of preparing a statement of cash flows. In addition, be specific with respect to whether the activity leads to an inflow of cash or an outflow of cash from the company's perspective. A company pays salaries to employees. Choose... A company receives cash for services it will perform in the future. Choose... A company pays back the principal on a...
P1-1A Below are typical transactions for Hewlett-Packard. Type of Business Activity Transactions Pay amount owed to the bank for previous borrowing. Pay utility costs. Purchase equipment to be used in operations. Provide services to customers. Purchase office supplies. Purchase a building. Pay workers' salaries. Pay for research and development costs. Pay taxes to the IRS." Sell common stock to investors. Required: Indicate whether each transaction is classified as a financing, investing, or operating activity.
Tabares Corporation had these transactions during 2020. Indicate whether each transaction is an operating activity, investing activity, financing activity, or noncash investing and financing activity. (a) Issued $50,000 par value common stock for cash. (b) Purchased a machine for $30,000, giving a long-term note in exchange. (c) Issued $200,000 par value common stock upon conversion of bonds having a face value of $200,000. (d) Declared and paid a cash dividend of $18,000. (e) Sold a long-term investment with a cost...
Classify each of the following events as an Operating Activity (OA), Investing Activity (1A), Financing Activity (FA), or not applicable (NA) on the statement of cash flows: (1) Perfomed services for $25,000 cash (2) Purchased land for $9,000 cash (3) Received $100,000 from the issuance of common stock (4) Paid $14,000 cash for salary expense (5) Sold land for $8,000 cash (6) Earned $25,000 of service revenue on account (7) Paid a $3,500 cash dividend (8) Collected $14,000 of the...
ament CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Analyze the transactions of a business organized as a proprietorship described below and indicate whether the transaction increased, decreased or increased and decreased the accounting equation. Owner's Equity Assets Liabilities Decreased Increased 1. Received cash for services rendered Increase Decreased - 2. Purchased office equipment on credit Increased Decreased 3. Paid employees salaries. Decreased increased Received cash from customer in payment on account Decreased d 5. Paid telephone bill for the month....
Motif Furniture designs and sells modern furniture. For each of the following first-quarter transactions, indicate whether operating (O), investing (), or financing activities (F) are affected and whether the effect is a cash inflow (+) or outflow (-). Activity Cash Flow 1. Bought used equipment for cash 2 Paid cash to purchase new equipment 3. Declared and paid cash dividends to shareholders 4. Collected payments on account from customers 5. Recorded an adjusting entry to record accrued salaries expense Recorded...
2. Indicate whether the transaction is a financing, investing, or operating activity a. Compton purchased a tract of land from Jacobsen Real Estate for $1,001,000 cash. b. Compton issued 2,000 shares of its common stock to George Micros in exchange for $110,000 cash. C. Compton purchased a John Deere tractor for $56,000 on credit d. Michael Rotunno paid Compton $9,200 cash for services performed. The services had been performed by Compton several months ago for a total price of $11,700...
For each of the items, indicate the type of business activity-operating, investing, or financing. Type of Activity 1. Purchase of goods for resale Operating 2. Issue of common shares 3. Sale of equipment that the company has finished using 4. Receipt of bank loan 5. Purchase of long-term investment 6. Purchase of equipment 7. Sale of merchandise to customers 8. Payment of salaries to employees 9. Sale of long-term investment 10. Repayment of loan owed to bank 11. Payment of...
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