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Classify transactions by activity. Indicate impact on cash and profit. (LOI) AP (b) P17-1B You are...
omit transaction#14; ignore reference to IFRS TIUUIMTE P17-1B You are provided with the following transactions that...
omit transaction#14; ignore reference to IFRS
TIUUIMTE P17-1B You are provided with the following transactions that took place during a recent fiscal year: (a) Classification Transaction 1. Paid telephone bill for the month. 2. Sold land for cash, at a gain. 3. Acquired land by issuing common shares. 4. Paid a cash dividend to preferred shareholders. 5. Performed services for cash. 6. Performed services on account. 7. Purchased inventory for cash. 8. Purchased inventory on account. 9. Paid income tax....
a recent fiscal year: Problems: Set B (a) Classification PI7-18 You are provided with the following transactions t...
a recent fiscal year: Problems: Set B (a) Classification PI7-18 You are provided with the following transactions that took place during a recent fis impact on 01) AP ons by Transaction 1. Paid telephone bill for the month. 2. Sold land for cash, at a gain. 3. Acquired land by issuing common shares. 4. Paid a cash dividend to preferred shareholders. 5. Performed services for cash. 6. Performed services on account. 7. Purchased inventory for cash. 8. Purchased inventory on...
SI56 Cash provided by operating Chwed by Chord Dud a) Calle the fresh flow for each...
SI56 Cash provided by operating Chwed by Chord Dud a) Calle the fresh flow for each company ( Which m e ans to be in a financial position TAKING IT FURTHER ly comparing the companies' cash flow can you tell which company Problems: Set B Prepaid are proded with the following transactions that took place during a recent fiscal Accedi Interest Classification w ing! using the TAKING is determi PE LODA Transaction telephone bill for the month Sladoch again. Acquired...
For each of the following transactions, indicate whether it will result in an increase, decrease, or...
For each of the following transactions, indicate whether it will result in an increase, decrease, or have no effect on cash flows: (a) Decrease Repayment of mortgage payable (b) Decrease Payment of interest on mortgage (c) No Effect Purchase of land in exchange for common shares (d) Increase Issue of preferred shares for cash X Payment for the purchase of a held for trading investment that is not a cash equivalent (e) No Effect Collection of accounts receivable (f) Increase...
Shareholders’ equity accounts are affected by a number of transactions and events, and, in many instances,...
Shareholders’ equity accounts are affected by a number of
transactions and events, and, in many instances, there will be more
than one account affected for one transaction or event.
For the following list of transactions and events, indicate from
the drop-down menus which shareholders’ equity account(s) will be
affected, and how they will be affected (Increased, Decreased, or
Not Applicable). If the transaction or event does not affect a
shareholders’ equity account, indicate that by selecting "Not
Applicable." Where required,...
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...
Classify tr flow activi DO IT! 12.1 (LO 1) Ragsdell Corporation had the following transactions. 1....
Classify tr flow activi DO IT! 12.1 (LO 1) Ragsdell Corporation had the following transactions. 1. Issued $200,000 of bonds payable. i d smoo no smopn meo 2. Paid utilities expense. 3. Issued 500 shares of preferred stock for $45,000. 4. Sold land and a building for $250,000. 5. Lent $30,000 to Tegtmeier Corporation, receiving Tegtmeier's 1-year, 12% note. noitiooln lnnoibbA Classify each of these transactions by type of cash flow activity (operating, investing, or financing).
TRANSACTIONS 1. Paid $2,100 for utilities. 2. Performed services for $10,500 on account 3. Received $6,500...
TRANSACTIONS 1. Paid $2,100 for utilities. 2. Performed services for $10,500 on account 3. Received $6,500 from charge account customers 4. Paid salaries of $4,500 to employees 5. Paid $8,000 to a creditor on account. 6. Owner invested $90,000 in the business. 7. Purchased $26,700 of supplies on account. 8. Purchased equipment for $21,000 cash 9. Paid $6,000 for rent (in advance). 10. Performed services for $7,800 cash. Indicate the impact of each of the transactions below on the fundamental...
Presented below are a number of economic events, Using the format shown after the transactions, indicate...
Presented below are a number of economic events, Using the format shown after the transactions, indicate whether the event (including its amount) increased (+), decreased (-), or had no effect (NE) on each element of the accounting equation 1. Purchased supplies on account, $240 2. Provided a service on account, $480. 3. Paid salaries expense, $330. 4. Issued common shares in exchange for cash, $4,840 5. Declared and pald $90 of divldends to shareholders. 6. Received cash from a customer...
Hart, Attorney at Law, experienced the following transactions in Year 1, the first year of operations:...
Hart, Attorney at Law, experienced the following transactions in Year 1, the first year of operations: 1. Accepted $19,200 on April 1. Year 1, as a retainer for services to be performed evenly over the next 12 months. 2. Also performed legal services for cash of $62,000. 3. Purchased $1,050 of office supplies on account. 4. Paid $945 of the amount due on accounts payable. 5. Paid a cash dividend to the stockholders of $5,000. 6. Paid cash for operating...
omit transaction#14; ignore reference to IFRS
TIUUIMTE P17-1B You are provided with the following transactions that took place during a recent fiscal year: (a) Classification Transaction 1. Paid telephone bill for the month. 2. Sold land for cash, at a gain. 3. Acquired land by issuing common shares. 4. Paid a cash dividend to preferred shareholders. 5. Performed services for cash. 6. Performed services on account. 7. Purchased inventory for cash. 8. Purchased inventory on account. 9. Paid income tax....
a recent fiscal year: Problems: Set B (a) Classification PI7-18 You are provided with the following transactions that took place during a recent fis impact on 01) AP ons by Transaction 1. Paid telephone bill for the month. 2. Sold land for cash, at a gain. 3. Acquired land by issuing common shares. 4. Paid a cash dividend to preferred shareholders. 5. Performed services for cash. 6. Performed services on account. 7. Purchased inventory for cash. 8. Purchased inventory on...
SI56 Cash provided by operating Chwed by Chord Dud a) Calle the fresh flow for each company ( Which m e ans to be in a financial position TAKING IT FURTHER ly comparing the companies' cash flow can you tell which company Problems: Set B Prepaid are proded with the following transactions that took place during a recent fiscal Accedi Interest Classification w ing! using the TAKING is determi PE LODA Transaction telephone bill for the month Sladoch again. Acquired...
For each of the following transactions, indicate whether it will result in an increase, decrease, or have no effect on cash flows: (a) Decrease Repayment of mortgage payable (b) Decrease Payment of interest on mortgage (c) No Effect Purchase of land in exchange for common shares (d) Increase Issue of preferred shares for cash X Payment for the purchase of a held for trading investment that is not a cash equivalent (e) No Effect Collection of accounts receivable (f) Increase...
Shareholders’ equity accounts are affected by a number of
transactions and events, and, in many instances, there will be more
than one account affected for one transaction or event.
For the following list of transactions and events, indicate from
the drop-down menus which shareholders’ equity account(s) will be
affected, and how they will be affected (Increased, Decreased, or
Not Applicable). If the transaction or event does not affect a
shareholders’ equity account, indicate that by selecting "Not
Applicable." Where required,...
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...
Classify tr flow activi DO IT! 12.1 (LO 1) Ragsdell Corporation had the following transactions. 1. Issued $200,000 of bonds payable. i d smoo no smopn meo 2. Paid utilities expense. 3. Issued 500 shares of preferred stock for $45,000. 4. Sold land and a building for $250,000. 5. Lent $30,000 to Tegtmeier Corporation, receiving Tegtmeier's 1-year, 12% note. noitiooln lnnoibbA Classify each of these transactions by type of cash flow activity (operating, investing, or financing).
TRANSACTIONS 1. Paid $2,100 for utilities. 2. Performed services for $10,500 on account 3. Received $6,500 from charge account customers 4. Paid salaries of $4,500 to employees 5. Paid $8,000 to a creditor on account. 6. Owner invested $90,000 in the business. 7. Purchased $26,700 of supplies on account. 8. Purchased equipment for $21,000 cash 9. Paid $6,000 for rent (in advance). 10. Performed services for $7,800 cash. Indicate the impact of each of the transactions below on the fundamental...
Presented below are a number of economic events, Using the format shown after the transactions, indicate whether the event (including its amount) increased (+), decreased (-), or had no effect (NE) on each element of the accounting equation 1. Purchased supplies on account, $240 2. Provided a service on account, $480. 3. Paid salaries expense, $330. 4. Issued common shares in exchange for cash, $4,840 5. Declared and pald $90 of divldends to shareholders. 6. Received cash from a customer...
Hart, Attorney at Law, experienced the following transactions in Year 1, the first year of operations: 1. Accepted $19,200 on April 1. Year 1, as a retainer for services to be performed evenly over the next 12 months. 2. Also performed legal services for cash of $62,000. 3. Purchased $1,050 of office supplies on account. 4. Paid $945 of the amount due on accounts payable. 5. Paid a cash dividend to the stockholders of $5,000. 6. Paid cash for operating...
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