Homework Answers
8. Option D, amortized cost( At each reporting date, GAAP requires held to maturity investments to be reported at amortized cost using effective interest rate method)
9. Option B, false ( they do not pay regular dividends)
10. Option A, True
11. Option B, False
12. Option A, True
13. Option D, all of the above
14. Option C, FINANCING ACTIVITIES
15. Option C, purchase of fixed assets
16. Option A, True
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8. GAAP requires held-to-maturity investments to be reported at their A Historical cost. C. Net realizable...
8. GAAP requires held-to-maturity investments to be reported at their A. Historical cost. C. Net realizable...
8. GAAP requires held-to-maturity investments to be reported at their A. Historical cost. C. Net realizable value. B. Fair value. D. Amortized cost. 9. Growth firms generally pay regular dividends to stockholders. A True. B. False. 10. In order to maintain a record of the original cost of a trading security, the fair value adjustments are debited or credited to the account Valuation Allowance for Investment. A True B. False. 11. The statement of cash flows is not one of...
1. Cash borrowed from another corporation would be reported in which section of the Statement of...
1. Cash borrowed from another corporation would be reported in which section of the Statement of Cash Flows? a. Operating Activities b. Investing Activities c Financing Activities d. This would not be reported on the Statement of Cash Flows. Depreciation is deducted when calculating cash outflows for operating expenses when using the direct method because: a. depreciation is not an expense we pay cash for. b. depreciation belongs in the cash outflows for financing activities. c. depreciation is an accrued...
The disposition of a plant asset is reported on the statement of cash flows as a...
The disposition of a plant asset is reported on the statement of cash flows as a financing activity. O O True False Intangibles with indefinite lives are never amortized. True True False Acquisitions and sales of long-term assets are reported as investing activities on the statement of cash flows. O O True False
Interest and dividends from investments held by a company are reported as cash inflows from investing...
Interest and dividends from investments held by a company are reported as cash inflows from investing activities on the statement of cash flows. a. True b. False Using the indirect method, the increase in accumulated depreciation is added to net income in the operating section. True False
The disposition of a plant asset is reported on the statement of cash flows as a...
The disposition of a plant asset is reported on the statement of cash flows as a financing activity. True False O Intangibles with indefinite lives are never amortized. True False O Acquisitions and sales of long-term assets are reported as investing activities on the statement of cash flows. True O False We were unable to transcribe this image
c an increase of $$1,000 from investing activities d an increase of $46,000 from investing activities and an additi...
c an increase of $$1,000 from investing activities d an increase of $46,000 from investing activities and an addition to net income of $5,000 26. Cash paid for equipment would be reported in the statement of cash flows in a the cash flows from operating activities section b. the cash flows from financing activities section c. the cash flows from investing activities section d a separate schedule 27. Which of the following types of transactions would be reported as a...
18) The premium on bonds payable: a) represents the increase in interest expense over the life of the bonds b) represents a decrease in interest expense over the life of the bonds c) decreases int...
18) The premium on bonds payable: a) represents the increase in interest expense over the life of the bonds b) represents a decrease in interest expense over the life of the bonds c) decreases interest expense to the effective interest rate d) both (b) and (c) are correct e) none of the above. 19) Interest received on investment is classified on Statement of Cash Flows as: a. Financing activity b Operating activity c investing activity d. Non-cash investing and Financing...
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...
13. Depreciation on factory equipment would be reported in the statement of cash flows prepared by...
13. Depreciation on factory equipment would be reported in the statement of cash flows prepared by the indirect method in: (a) Cash flows from investing activities section. (b) Cash flows from financing activities section. (c) Schedule of noncash investing and financing activities. (d) Cash flows from operating activities section. 14. Preferred stock issued in exchange for land would be reported in the statement of cash flows in: (a) Cash flows from investing activities section. (b) Cash flows from financing activities...
Which of the following is true regarding the statement of cash flows and IFRS? Cash and...
Which of the following is true regarding the statement of cash flows and IFRS? Cash and cash equivalents are defined differently under IFRS than under GAAP. Under IFRS most companies choose to use the direct method of reporting cash flows from operating activities. Companies preparing a complete set of financial statements under IFRS may exclude the statement of cash flows if the cash flow activity is reported in the notes to the financial statements. Under IFRS noncash investing and financing...
8. GAAP requires held-to-maturity investments to be reported at their A. Historical cost. C. Net realizable value. B. Fair value. D. Amortized cost. 9. Growth firms generally pay regular dividends to stockholders. A True. B. False. 10. In order to maintain a record of the original cost of a trading security, the fair value adjustments are debited or credited to the account Valuation Allowance for Investment. A True B. False. 11. The statement of cash flows is not one of...
1. Cash borrowed from another corporation would be reported in which section of the Statement of Cash Flows? a. Operating Activities b. Investing Activities c Financing Activities d. This would not be reported on the Statement of Cash Flows. Depreciation is deducted when calculating cash outflows for operating expenses when using the direct method because: a. depreciation is not an expense we pay cash for. b. depreciation belongs in the cash outflows for financing activities. c. depreciation is an accrued...
The disposition of a plant asset is reported on the statement of cash flows as a financing activity. O O True False Intangibles with indefinite lives are never amortized. True True False Acquisitions and sales of long-term assets are reported as investing activities on the statement of cash flows. O O True False
The disposition of a plant asset is reported on the statement of cash flows as a financing activity. True False O Intangibles with indefinite lives are never amortized. True False O Acquisitions and sales of long-term assets are reported as investing activities on the statement of cash flows. True O False We were unable to transcribe this image
c an increase of $$1,000 from investing activities d an increase of $46,000 from investing activities and an addition to net income of $5,000 26. Cash paid for equipment would be reported in the statement of cash flows in a the cash flows from operating activities section b. the cash flows from financing activities section c. the cash flows from investing activities section d a separate schedule 27. Which of the following types of transactions would be reported as a...
18) The premium on bonds payable: a) represents the increase in interest expense over the life of the bonds b) represents a decrease in interest expense over the life of the bonds c) decreases interest expense to the effective interest rate d) both (b) and (c) are correct e) none of the above. 19) Interest received on investment is classified on Statement of Cash Flows as: a. Financing activity b Operating activity c investing activity d. Non-cash investing and Financing...
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...
13. Depreciation on factory equipment would be reported in the statement of cash flows prepared by the indirect method in: (a) Cash flows from investing activities section. (b) Cash flows from financing activities section. (c) Schedule of noncash investing and financing activities. (d) Cash flows from operating activities section. 14. Preferred stock issued in exchange for land would be reported in the statement of cash flows in: (a) Cash flows from investing activities section. (b) Cash flows from financing activities...
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