Homework Answers
11.
When revenue is less than expenses, it means business suffers losses.
Loss = Expenses - Revenues
Stockholders equity at the end of the period will decrease due to losses if there is no change in common stock during the year.
It is also given that liabilities were unchanged during the period. The combined effect of decrease in stockholders equity, and no change in liabilities will be a decrease in total assets of the business at the end of the period.
Hence, Correct option is c.
Kindly comment if you need further assistance. Thanks‼!
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Just need help with cash flows from operating activities!
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complete the heading of the statement. Refer to the Labels and
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answer choices for text entries. Enter amounts that represent cash
outflows as negative numbers using a minus sign. No income
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3. Operating, Investing, and financing activities and cash flows The statement of cash flows reports a company's cash inflows and outflows for a given accounting period by categorizing the company's sources and uses of cash as either operating, investing, or financing activities. Determine whether the activities described in the following table should be categorized as operating, investing, or financing activities in the statement of cash flows. activities Investing activities Financing activities Alexander Co. purchased a factory for $920,000. Doran Industries...
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statement of cash flows for Myriad Products Company using the
indirect method.
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Just need help with cash flows from operating activities!
The comparative balance sheet of Livers Inc. or December 31, 20Y3 and 20Y2, s as follows: Dec. 31, 20Y3 Dec.31,20Y2 1 Assets 2 $155,000.00 $150,000.00 3 Cash Accounts receivable (net) 450,000.00 400,000.00 4 770,000.00 5 Inventories 750,000.00 0.00 100,000.00 6 Investments 0.00 7Land 500,000.00 8 Equipment 1,400,000.00 1,200,000.00 9 Accumulated depreciation-equipment (600,000.00) (500,000.00) $2,675,000.00 $2,100,000.00 10 Total assets Liabilities and Stockholders' Equity 11 $340,000.00 $300,000.00 12 Accounts payable (merchandise creditors) 50,000.00...
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Complete the statement one section at a time, beginning with
the cash flows from operating activities.
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Statement of Cash Flows
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Prepare a statement of cash flows, using the direct method of
presenting cash flows from operating activities. Be sure to
complete the heading of the statement. Refer to the Labels and
Amount Descriptions list provided for the exact wording of the
answer choices for text entries. Enter amounts that represent cash
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Updated: Sorry for forgetting the income statement.
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