Homework Answers
Answer
--Requirements, as asked
| Amount | Effect | |
| Notes Payable | ($16,000) | Decrease, as cash is repaid |
| Dividends | ($1,000) | Decrease, as Dividend is paid out in cash |
| Machinery | $ 200000 or $ 0 | No effect, as it is a non cash activity |
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Indicate which of the following has an effect on financing cash flows. (Amounts that decrease cash...
7 QS 16-14 Computing financing cash flows LO P3 Indicate which of the following has an...
7 QS 16-14 Computing financing cash flows LO P3 Indicate which of the following has an effect on financing cash flows. (Amounts that decrease cash should be indicated with a minus sign.) 0.43 points a. Notes payable with a carrying value of $15,000 are retired for $16,000 cash, resulting in a $1,000 loss. b. Paid cash dividends of $11,000 to common stockholders. c. Acquired $20,000 worth of machinery in exchange for common stock. eBook References Effect on financing Items Amount...
Indicate which of the following has an effect on financing cash flows. Notes payable with a...
Indicate which of the following
has an effect on financing cash flows. Notes payable with a
carrying value of $19,000 are retired for $22,000 cash, resulting
in a $3,000 loss. Paid cash dividends of $15,000 to common
stockholders. Acquired $24,000 worth of machinery in exchange for
common stock.
Ch 12 Homework Ai Saved QS 12-14 Computing financing cash flows LO P3 20 Indicate which of the following has an effect on financing cash flows. points a. Notes payable with a...
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....
Identify the effect it has...what did I do wrong and what's correct? For each of the...
Identify the effect it has...what did I do wrong and what's
correct?
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...
For each of the following separate transactions: 1. Sold a building costing $35,500, with $22,200 of...
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Indicate the effect each separate transaction has on investing cash flows. (Amounts to be deducted should...
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Squirrel Tree Services reports the following amounts on December 31. Assets Cash Supplies Prepaid insurance Building...
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7 QS 16-14 Computing financing cash flows LO P3 Indicate which of the following has an effect on financing cash flows. (Amounts that decrease cash should be indicated with a minus sign.) 0.43 points a. Notes payable with a carrying value of $15,000 are retired for $16,000 cash, resulting in a $1,000 loss. b. Paid cash dividends of $11,000 to common stockholders. c. Acquired $20,000 worth of machinery in exchange for common stock. eBook References Effect on financing Items Amount...
Indicate which of the following
has an effect on financing cash flows. Notes payable with a
carrying value of $19,000 are retired for $22,000 cash, resulting
in a $3,000 loss. Paid cash dividends of $15,000 to common
stockholders. Acquired $24,000 worth of machinery in exchange for
common stock.
Ch 12 Homework Ai Saved QS 12-14 Computing financing cash flows LO P3 20 Indicate which of the following has an effect on financing cash flows. points a. Notes payable with a...
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....
Identify the effect it has...what did I do wrong and what's
correct?
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...
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...
Financing Activities on the Statement of Cash Flows Takaki Inc. reported net income of $53,000 for 20Y7. The liability and equity accounts from the company's comparative balance sheet are as follows: Dec. 31, 2047 Dec. 31, 2016 Accounts payable $31,900 $28,400 Dividends payable 5,000 3,000 Common stock, $5 par value 80,000 75,000 Paid-in capital in excess of par-common stock 37,000 30,000 Retained earnings 130,600 81,600 During the year, the company declared dividends of $4,000 and issued 1,000 shares of common...
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...
P 10-2 Cash Flows Classification Operating Investing Financing Effect on Cash Activity Activity Activity Increase Decrease Data a. Net income b. Paid cash dividend c. Increase in receivables d. Retirement of debt-paying cash Purchase of treasury stock Purchase of equipment e. f. Cash Flows Classification Operating Investing Financing Noncash Effect on Cash Trans- Decrease actions Data Activity Activity Activity Increase Sale of equipment Decrease in inventory Acquisition of land, using common stock Retired bonds, using common stock Decrease in accounts...
Problem 5-6 Lansbury Inc. had the following balance sheet at December 31, 2016 LANSBURY INC. BALANCE SHEET DECEMBER 31, 2016 $20,000 Accounts payable Cash Accounts receivable Investments Plant assets (net) Land $30,000 41,000 100,000 23,200 $194,200 21,200 Notes payable (long-term) 32,000 Common stock 81,000 Retained earnings 40,000 $194,200 During 2017, the following occurred 1. Lansbury Inc. sold part of its investment portfolio for $15,000. This transaction resulted in a gain of $3,400 for the firm. The company classifies its investments...
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