Identify the effect it has...what did I do wrong and what's correct?
Homework Answers
| Cash flow from investing activities | ||
| Cash received from sale of building | 8000 | |
| Net cash provided by investing activities | 8000 | |
| Cash flow from financing activities | ||
| Cash received from issuing stock | 2000 | |
| Cash paid for notes payable | -47000 | |
| Net cash used in financing activities | -45000 | |
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Identify the effect it has...what did I do wrong and what's
correct?
For each of the...
Identify the effect it has.. For each of the following separate transactions: 1. Sold a building...
Identify the effect it has..
For each of the following separate transactions: 1. Sold a building costing $30,000, with $20,000 of accumulated depreciation, for $8,000 cash, resulting in a $2,000 loss. 2. Acquired machinery worth $10,000 by issuing $10,000 in notes payable. 3. Issued 1,000 shares of common stock at par for $2 per share. 4. Note payables with a carrying value of $40,000 were retired for $47,000 cash, resulting in a $7,000 loss. (a) Prepare the reconstructed journal entry....
For each of the following separate transactions: 1. Sold a building costing $35,500, with $22,200 of...
For each of the following separate transactions: 1. Sold a building costing $35,500, with $22,200 of accumulated depreciation, for $10,200 cash, resulting in a $3,100 loss. 2. Acquired machinery worth $12,200 by issuing $12,200 in notes payable. 3. Issued 1,220 shares of common stock at par for $2 per share. 4. Note payables with a carrying value of $41,100 were retired for $49,200 cash, resulting in a $8,100 loss. (a) Prepare the reconstructed journal entry. (b) Identify the effect it...
Q2 (Statement of Cash Flows). Based on the above information, what amount will be reported as...
Q2 (Statement of Cash Flows). Based on the above information, what amount will be reported as the net cash provided by operating, investing, and financing activities for the year on the statement of cash flows. Net Income = $10,000 • Depreciation expense = $4,000 • Decrease in accounts payable = $1,500 • Increase in bonds payable = $8,000 * Sales of long-term investment = $2,000 * Purchase of plant and equipment - $7,000 * Sales of common stock for cash...
Question 1 (60 points) Match items that appear on the statement of cash flows for the...
Question 1 (60 points) Match items that appear on the statement of cash flows for the year ended 12/31/2014 with the appropriate presentation on the statement. Decrease in salaries payable Increase in accounts receivable 1. added inflow in the operating activities section Net income 2. subtracted outflow in the operating activities section Cash paid for dividends 3. added inflow in the investing activities section Cash paid for construction of building 4 subtracted outflow in the investing activities section Cash received...
For each transaction identify the appropriate section in the statement of cash flows reports transaction to...
For
each transaction identify the appropriate section in the statement
of cash flows reports transaction to choosing cash flows from
operating activities (o) cash flow from investing activities (I)
cash flowfrom financing activities (f) or it is not on the
statement of cash flows (x)
*** Section on the Positive (+) or negative (-) cash flow statement of cash flows Transaction The business received cash from the owner in exchange for a. capital. b. Paid cash on accounts payable for...
Problem 23-2 The comparative balance sheets for Concord Corporation show the following information. Cash Accounts receivable...
Problem 23-2 The comparative balance sheets for Concord Corporation show the following information. Cash Accounts receivable Inventory Available-for-sale debt investments Buildings Equipment Patents December 31 2017 2016 $33,400 $13,100 12,300 10,000 12,200 9,100 -0 2,900 -0 29,500 45,400 20,200 5,000 6,200 $108,300 $91,000 Allowance for doubtful accounts Accumulated depreciation equipment Accumulated depreciation-building Accounts payable Dividends payable Notes payable, short-term (nontrade) Long-term notes payable Common stock Retained earnings $3,000 2,000 -0- 5,000 -0- 3,000 31,000 43,000 21,300 $108,300 $4,500 4,600 6,100...
Help ASAP pleasee!! Common stock transactions on the statement of cash flows Jones Industries received $800,000...
Help ASAP pleasee!!
Common stock transactions on the statement of cash flows Jones Industries received $800,000 from issuing shares of its common stock and $700,000 from issuing bonds. During the year, Jones Industries also paid dividends of $90,000. How are the effects of these transactions reported on the statement of cash flows? Use the minus sign to indicate cash out flows, cash payments, decreases in cash and for any adjustments, if required. If a transaction has no effect on the...
Indicate the effect each separate transaction has on investing cash flows. (Amounts to be deducted should...
Indicate the effect each separate transaction has on investing cash flows. (Amounts to be deducted should be indicated with a minus sign.) a. Sold a truck costing $40,000, with $22,000 of accumulated depreciation, for $8.000 cash. The sale results in a $10,000 loss. b. Sold a machine costing $10,000, with $8,000 of accumulated depreciation, for $5,000 cash. The sale results in a $3,000 gain. c. Purchased stock investments for $16,000 cash. The purchaser believes the stock is worth at least...
Cash and cash equivalents balance, December 31, 2016 Cash and cash equivalents balance, December 31, 2017...
Cash and cash equivalents balance, December 31, 2016 Cash and cash equivalents balance, December 31, 2017 Cash received as interest Cash paid for salaries Bonds payable retired by issuing common stock (no gain or loss on retirement) Cash paid to retire long-term notes payable Cash received from sale of equipment Cash received in exchange for six-month note payable Land purchased by issuing long-term note payable Cash paid for store equipment Cash dividends paid Cash paid for other expenses Cash received...
Solve problem 13-2B using working papers or pencil/paper and then answer quiz questions based on your...
Solve problem 13-2B using working papers or pencil/paper and then answer quiz questions based on your work. Question 1 (60 points) Match items that appear on the statement of cash flows for the year ended 12/31/20Y4 with the appropriate presentation on the statement. Decrease in salaries payable Increase in accounts receivable 1. added inflow in the operating activities section 2. subtracted outflow in the operating activities section Net income Cash paid for dividends 3. added inflow in the investing activities...
Identify the effect it has..
For each of the following separate transactions: 1. Sold a building costing $30,000, with $20,000 of accumulated depreciation, for $8,000 cash, resulting in a $2,000 loss. 2. Acquired machinery worth $10,000 by issuing $10,000 in notes payable. 3. Issued 1,000 shares of common stock at par for $2 per share. 4. Note payables with a carrying value of $40,000 were retired for $47,000 cash, resulting in a $7,000 loss. (a) Prepare the reconstructed journal entry....
For each of the following separate transactions: 1. Sold a building costing $35,500, with $22,200 of accumulated depreciation, for $10,200 cash, resulting in a $3,100 loss. 2. Acquired machinery worth $12,200 by issuing $12,200 in notes payable. 3. Issued 1,220 shares of common stock at par for $2 per share. 4. Note payables with a carrying value of $41,100 were retired for $49,200 cash, resulting in a $8,100 loss. (a) Prepare the reconstructed journal entry. (b) Identify the effect it...
Q2 (Statement of Cash Flows). Based on the above information, what amount will be reported as the net cash provided by operating, investing, and financing activities for the year on the statement of cash flows. Net Income = $10,000 • Depreciation expense = $4,000 • Decrease in accounts payable = $1,500 • Increase in bonds payable = $8,000 * Sales of long-term investment = $2,000 * Purchase of plant and equipment - $7,000 * Sales of common stock for cash...
Question 1 (60 points) Match items that appear on the statement of cash flows for the year ended 12/31/2014 with the appropriate presentation on the statement. Decrease in salaries payable Increase in accounts receivable 1. added inflow in the operating activities section Net income 2. subtracted outflow in the operating activities section Cash paid for dividends 3. added inflow in the investing activities section Cash paid for construction of building 4 subtracted outflow in the investing activities section Cash received...
For
each transaction identify the appropriate section in the statement
of cash flows reports transaction to choosing cash flows from
operating activities (o) cash flow from investing activities (I)
cash flowfrom financing activities (f) or it is not on the
statement of cash flows (x)
*** Section on the Positive (+) or negative (-) cash flow statement of cash flows Transaction The business received cash from the owner in exchange for a. capital. b. Paid cash on accounts payable for...
Problem 23-2 The comparative balance sheets for Concord Corporation show the following information. Cash Accounts receivable Inventory Available-for-sale debt investments Buildings Equipment Patents December 31 2017 2016 $33,400 $13,100 12,300 10,000 12,200 9,100 -0 2,900 -0 29,500 45,400 20,200 5,000 6,200 $108,300 $91,000 Allowance for doubtful accounts Accumulated depreciation equipment Accumulated depreciation-building Accounts payable Dividends payable Notes payable, short-term (nontrade) Long-term notes payable Common stock Retained earnings $3,000 2,000 -0- 5,000 -0- 3,000 31,000 43,000 21,300 $108,300 $4,500 4,600 6,100...
Help ASAP pleasee!!
Common stock transactions on the statement of cash flows Jones Industries received $800,000 from issuing shares of its common stock and $700,000 from issuing bonds. During the year, Jones Industries also paid dividends of $90,000. How are the effects of these transactions reported on the statement of cash flows? Use the minus sign to indicate cash out flows, cash payments, decreases in cash and for any adjustments, if required. If a transaction has no effect on the...
Indicate the effect each separate transaction has on investing cash flows. (Amounts to be deducted should be indicated with a minus sign.) a. Sold a truck costing $40,000, with $22,000 of accumulated depreciation, for $8.000 cash. The sale results in a $10,000 loss. b. Sold a machine costing $10,000, with $8,000 of accumulated depreciation, for $5,000 cash. The sale results in a $3,000 gain. c. Purchased stock investments for $16,000 cash. The purchaser believes the stock is worth at least...
Cash and cash equivalents balance, December 31, 2016 Cash and cash equivalents balance, December 31, 2017 Cash received as interest Cash paid for salaries Bonds payable retired by issuing common stock (no gain or loss on retirement) Cash paid to retire long-term notes payable Cash received from sale of equipment Cash received in exchange for six-month note payable Land purchased by issuing long-term note payable Cash paid for store equipment Cash dividends paid Cash paid for other expenses Cash received...
Solve problem 13-2B using working papers or pencil/paper and then answer quiz questions based on your work. Question 1 (60 points) Match items that appear on the statement of cash flows for the year ended 12/31/20Y4 with the appropriate presentation on the statement. Decrease in salaries payable Increase in accounts receivable 1. added inflow in the operating activities section 2. subtracted outflow in the operating activities section Net income Cash paid for dividends 3. added inflow in the investing activities...
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