Homework Answers
Land and building purchased on mortgage will be classified as investment activitiy on Cash flow statement.
Any increase or decrease in fixed assets (i.e., purchase or sale) will be adjusted in cashflow statement as investment activitiy, irrespective of mode of purchase.
Ans - Investing activities session.
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Multiple Choice Question 66 Assume that the E-Zip Corporation uses the indirect method to depict cash...
Assume that the Ecuyer Company uses the indirect method to depict cash flows. Indicate where, if...
Assume that the Ecuyer Company uses the indirect method to depict cash flows. Indicate where, if at all, stock issued for equipment would be classified on the statement of cash flows. O Financing activities section. O Investing activities section. o Operating activities section. O Does not represent a cash flow.
Assume that Company A uses indirect method to depict cash flows. Indicate where, if at all,...
Assume that Company A uses indirect method to depict cash flows. Indicate where, if at all, a stock issued for purchasing a patent would be classified on the statement of cash flows. a. Operating activities section b. Investing activities section c. Financing activities section d. Does not represent a cash flow
Saved Ingles Corporation purchased land and building, indicate where, if at all, it would be classified...
Saved Ingles Corporation purchased land and building, indicate where, if at all, it would be classified on the statement of cash flows Question 14 options: 1) operating activities section 2) investing activities section 3) financing activities section 4) does not represent a cash flow Question 15 (1 point) Saved Ingles Corporation experienced a decrease in accounts receivable, indicate where, if at all, it would be classified on the statement of cash flows. Question 15 options: 1) operating activities section. 2)...
Utah Corp. uses the indirect method to prepare the statement of cash flows. Refer to the...
Utah Corp. uses the indirect method to prepare the statement of cash flows. Refer to the following section of the comparative balance sheet: Utah Corp Comparative Balance Sheet December 31, 2018 and 2017 Cash Accounts Receivable Merchandise Inventory Total Assets 2018 $45,000 48,000 180.000 $273,000 2017 Increase/(Decrease) $27,000 $18,000 45,000 3,000 132.000 48.000 $204,000 $69,000 How will the change in Merchandise Inventory be shown on the statement of cash flows? O A. addition to net income under the operating activities...
Utah Corp. uses the indirect method to prepare the statement of cash flows. Refer to the...
Utah Corp. uses the indirect method to prepare the statement of cash flows. Refer to the following section of the comparative balance sheet Utah Corp Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Increase/(Decrease) Cash $45,000 $27,000 $18,000 Accounts Receivable 48,000 45,000 3,000 Merchandise Inventory 180,000 132.000 48 000 Total Assets $273,000 $204,000 $69,000 How will the change in Merchandise Inventory be shown on the statement of cash flows? O A negative cash flow under the investing activities...
Statement of Cash Flows (Indirect Method) Use the following information regarding the Newcastle Corporation to prepare...
Statement of Cash Flows (Indirect Method)
Use the following information regarding the Newcastle Corporation
to prepare a statement of cash flows using the indirect method:
Remember to use negative signs with answers when
appropriate.
Accounts payable decrease Accounts receivable increase Wages payable decrease Amortization expense Cash balance, January 1 Cash balance, December 31 Cash paid as dividends Cash paid to purchase land Cash paid to retire bonds payable at par Cash received from issuance of common stock Cash received from...
Statement of Cash Flows-Indirect Method The comparative balance sheet of Harris Industries Inc. at December 31,...
Statement of Cash Flows-Indirect Method The comparative balance sheet of Harris Industries Inc. at December 31, 2014 and 2043, is as follows: Dec. 31, Dec. 31, 2014 2013 Assets Cash Accounts receivable (net) Inventories Prepaid expenses $443,240 665,280 887,880 $360,920 592,200 1,022,560 31,640 25,200 Land 302,400 302,400 Buildings 1,713,600 (466,200) 1,134,000 (414,540) Accumulated depreciation-buildings Machinery and equipment Accumulated depreciation-machinery and equipment 781,200 (214,200) 106,960 $4,251,800 781,200 (191,520) 112,000 $3,724,420 Patents Total assets $837,480 32,760 Liabilities and Stockholders' Equity Accounts payable...
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...
Statement of Cash Flows (Indirect Method) Use the following information regarding the Newcastle Corporation to prepare...
Statement of Cash Flows (Indirect Method) Use the following information regarding the Newcastle Corporation to prepare a statement of cash flows using the indirect method: Accounts payable decrease $7,000 Accounts receivable increase 9,800 Wages payable decrease 4,200 Amortization expense 22.400 Cash balance, January 1 42,000 Cash balance, December 31 9,800 Cash paid as dividends 8,400 Cash paid to purchase land 140,000 Cash paid to retire bonds payable at par 105,000 Cash received from issuance of common stock 63,000 Cash received...
Statement of Cash Flows (Indirect Method) Use the following information regarding the Fremantle Corporation to prepare...
Statement of Cash Flows (Indirect Method) Use the following information regarding the Fremantle Corporation to prepare a statement of cash flows using the indirect method Accounts payable increase Accounts receivable increase Accrued liabilities decrease Amortization expense Cash balance, January 1 Cash balance, December 31 Cash paid as dividends Cash paid to purchase land Cash paid to retire bonds payable at par Cash received from issuance of common stock 75,000 Cash received from sale of equipment Depreciation expense Gain on sale...
Assume that the Ecuyer Company uses the indirect method to depict cash flows. Indicate where, if at all, stock issued for equipment would be classified on the statement of cash flows. O Financing activities section. O Investing activities section. o Operating activities section. O Does not represent a cash flow.
Utah Corp. uses the indirect method to prepare the statement of cash flows. Refer to the following section of the comparative balance sheet: Utah Corp Comparative Balance Sheet December 31, 2018 and 2017 Cash Accounts Receivable Merchandise Inventory Total Assets 2018 $45,000 48,000 180.000 $273,000 2017 Increase/(Decrease) $27,000 $18,000 45,000 3,000 132.000 48.000 $204,000 $69,000 How will the change in Merchandise Inventory be shown on the statement of cash flows? O A. addition to net income under the operating activities...
Utah Corp. uses the indirect method to prepare the statement of cash flows. Refer to the following section of the comparative balance sheet Utah Corp Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Increase/(Decrease) Cash $45,000 $27,000 $18,000 Accounts Receivable 48,000 45,000 3,000 Merchandise Inventory 180,000 132.000 48 000 Total Assets $273,000 $204,000 $69,000 How will the change in Merchandise Inventory be shown on the statement of cash flows? O A negative cash flow under the investing activities...
Statement of Cash Flows (Indirect Method)
Use the following information regarding the Newcastle Corporation
to prepare a statement of cash flows using the indirect method:
Remember to use negative signs with answers when
appropriate.
Accounts payable decrease Accounts receivable increase Wages payable decrease Amortization expense Cash balance, January 1 Cash balance, December 31 Cash paid as dividends Cash paid to purchase land Cash paid to retire bonds payable at par Cash received from issuance of common stock Cash received from...
Statement of Cash Flows-Indirect Method The comparative balance sheet of Harris Industries Inc. at December 31, 2014 and 2043, is as follows: Dec. 31, Dec. 31, 2014 2013 Assets Cash Accounts receivable (net) Inventories Prepaid expenses $443,240 665,280 887,880 $360,920 592,200 1,022,560 31,640 25,200 Land 302,400 302,400 Buildings 1,713,600 (466,200) 1,134,000 (414,540) Accumulated depreciation-buildings Machinery and equipment Accumulated depreciation-machinery and equipment 781,200 (214,200) 106,960 $4,251,800 781,200 (191,520) 112,000 $3,724,420 Patents Total assets $837,480 32,760 Liabilities and Stockholders' Equity Accounts payable...
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...
Statement of Cash Flows (Indirect Method) Use the following information regarding the Newcastle Corporation to prepare a statement of cash flows using the indirect method: Accounts payable decrease $7,000 Accounts receivable increase 9,800 Wages payable decrease 4,200 Amortization expense 22.400 Cash balance, January 1 42,000 Cash balance, December 31 9,800 Cash paid as dividends 8,400 Cash paid to purchase land 140,000 Cash paid to retire bonds payable at par 105,000 Cash received from issuance of common stock 63,000 Cash received...
Statement of Cash Flows (Indirect Method) Use the following information regarding the Fremantle Corporation to prepare a statement of cash flows using the indirect method Accounts payable increase Accounts receivable increase Accrued liabilities decrease Amortization expense Cash balance, January 1 Cash balance, December 31 Cash paid as dividends Cash paid to purchase land Cash paid to retire bonds payable at par Cash received from issuance of common stock 75,000 Cash received from sale of equipment Depreciation expense Gain on sale...
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