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Astoria Company had the following transactions during the month of August Year 1: (1) Cash received...
Astoria Co. had the following transactions during the month of August 2018: * Cash received from...
Astoria Co. had the following transactions during the month of August 2018: * Cash received from bank loans was $22,000. * Dividends of $9,700 were paid to stockholders in cash. Revenues earned and received in cash amounted to $35,500 Expenses incurred and paid were $27,000. For the month of August, net cash flows from operating activities for Astoria were:
6) If cash flows from operating activities is a positive amount, then: A) The company must...
6) If cash flows from operating activities is a positive amount, then: A) The company must have paid off more debts than it earned during the year B) The company may still have a decrease in the total amount of cash for the period. c) The company must have had a net profit for the year. D) The amount will be shown on the statement of cash flows in parentheses 7) Which of the following best defines an asset? A)...
Required information [The following information applies to the questions displayed below.) Waldorf Co. had the following...
Required information [The following information applies to the questions displayed below.) Waldorf Co. had the following transactions during the month of October 2018: (1) Cash received from bank loans was $60,000. (2) Dividends of $18,500 were paid to stockholders in cash. (3) Revenues earned and received in cash amounted to $100,500. (4) Expenses incurred and paid were $78,000. What amount of net income will be reported on an income statement for the month of October? $100,500. $ 78,000. o o...
Jiminez, Inc., had the following transactions during the month of March, current year. Prepare an income...
Jiminez, Inc., had the following transactions during the month of March, current year. Prepare an income statement based on this information, being careful to include only those items that should appear in that financial statement. Cash received from bank loans was $10,000. Revenues earned and received in cash were $9,000. Dividends of $4,000 were paid to stockholders. Expenses incurred and paid were $5,600. JIMINEZ, INC. Income Statement For the Month Ended March 31, Current Year Revenues $0
ea systems entered into the following transactions during the month of august: 1. received $6,350 for...
ea systems entered into the following transactions during the month of august: 1. received $6,350 for services performed during august. 2. purchased $1,200 of supplies on account. 3. paid employee salaries of $3,280 for the first week of august. 4. paid $900 towards the previous purchase of supplies. required indicate whether each transaction increases, de- creases, or has no effect on assets, liabilities, and eq- uity. if a transaction affects equity, indicate whether the transaction affects revenues or expenses.
Significant Technologies Corporation had the following transactions in the month of August. Significant Technologies received $100,000...
Significant Technologies Corporation had the following transactions in the month of August. Significant Technologies received $100,000 cash in exchange for shares of Significant Technologies' common stock. Purchased store equipment for $11,000 cash. Provided services for cash of $9,000. Provided services on credit for $20,000. Received bill and paid utilities of $5,000. Paid sales salaries of $8,000. Ignore withholding and related payroll taxes. Incurred legal fees of $6,000 to be paid later. Declared and paid dividends to stockholders of $2,000. Collected...
Required information The following information applies to the questions displayed below.) During the month of August,...
Required information The following information applies to the questions displayed below.) During the month of August, Boyce Company had the following transactions: (1)Revenues of $120,000 were earned and received in cash. (2)Bank loans of $18,000 were paid off. (3)Equipment of $40,000 was purchased with cash. (4)Expenses of $73,600 were paid. (5)Stockholders purchased additional shares for $44,000 cash. A statement of cash flows for August, would report net cash flows from operating activities of Multiple Choice $46,400. $40,000 $32.400 $26.000 A...
Below are the transactions occurred during August: Date Transactions Aug 1 Started the business with cash...
Below are the transactions occurred during August: Date Transactions Aug 1 Started the business with cash at bank RM120,000 and cash in hand RM130,000. 2 Bought goods on credit from XXX Sdn. Bhd. amounted to RM11,000. 4 Bought computer amounted to RM8,000 by cash. 8 Sold goods to AAA Trading amounted to RM8,000 with credit term 2/10,n/30. 9 Sold furniture of RM14,000 and received a cheque from Harry. 12 AAA Trading returned the goods due to damage amounted to RM800....
8 pt X Company, a merchandising company, had the following transactions during the year: 1. Received...
8 pt X Company, a merchandising company, had the following transactions during the year: 1. Received $8,425 in cash contributions from the owners 2. Purchased $8,463 worth of merchandise on account from suppliers. 3. Sold merchandise on account to customers for $12,148; the merchandise cost X Company $8,504 4. Paid $3,520 to suppliers for merchandise that X Company had previously purchased on account 5. Collected $3,100 from customers who had previously purchased merchandise on account 6. Bought equipment for $9,480...
On August 1, 2018, the beginning of its current fiscal year, the following opening account balances,...
On August 1, 2018, the beginning of its current fiscal year,
the following opening account balances, listed in alphabetical
order, were reported by Tobique Ltd.
Accounts payable
$2,500
Interest receivable
20
Accounts receivable
4,740
Note receivable, due October 31, 2018
4,000
Accumulated depreciation—equipment
2,030
Retained earnings
6,040
Cash
5,520
Salaries payable
1,460
Common shares
12,000
Supplies
1,030
Equipment
10,100
Unearned revenue
1,380
During August, the following summary transactions were
completed.
Aug. 1
Paid $440 cash for advertising in local newspapers....
Astoria Co. had the following transactions during the month of August 2018: * Cash received from bank loans was $22,000. * Dividends of $9,700 were paid to stockholders in cash. Revenues earned and received in cash amounted to $35,500 Expenses incurred and paid were $27,000. For the month of August, net cash flows from operating activities for Astoria were:
6) If cash flows from operating activities is a positive amount, then: A) The company must have paid off more debts than it earned during the year B) The company may still have a decrease in the total amount of cash for the period. c) The company must have had a net profit for the year. D) The amount will be shown on the statement of cash flows in parentheses 7) Which of the following best defines an asset? A)...
Required information [The following information applies to the questions displayed below.) Waldorf Co. had the following transactions during the month of October 2018: (1) Cash received from bank loans was $60,000. (2) Dividends of $18,500 were paid to stockholders in cash. (3) Revenues earned and received in cash amounted to $100,500. (4) Expenses incurred and paid were $78,000. What amount of net income will be reported on an income statement for the month of October? $100,500. $ 78,000. o o...
Required information The following information applies to the questions displayed below.) During the month of August, Boyce Company had the following transactions: (1)Revenues of $120,000 were earned and received in cash. (2)Bank loans of $18,000 were paid off. (3)Equipment of $40,000 was purchased with cash. (4)Expenses of $73,600 were paid. (5)Stockholders purchased additional shares for $44,000 cash. A statement of cash flows for August, would report net cash flows from operating activities of Multiple Choice $46,400. $40,000 $32.400 $26.000 A...
8 pt X Company, a merchandising company, had the following transactions during the year: 1. Received $8,425 in cash contributions from the owners 2. Purchased $8,463 worth of merchandise on account from suppliers. 3. Sold merchandise on account to customers for $12,148; the merchandise cost X Company $8,504 4. Paid $3,520 to suppliers for merchandise that X Company had previously purchased on account 5. Collected $3,100 from customers who had previously purchased merchandise on account 6. Bought equipment for $9,480...
On August 1, 2018, the beginning of its current fiscal year,
the following opening account balances, listed in alphabetical
order, were reported by Tobique Ltd.
Accounts payable
$2,500
Interest receivable
20
Accounts receivable
4,740
Note receivable, due October 31, 2018
4,000
Accumulated depreciation—equipment
2,030
Retained earnings
6,040
Cash
5,520
Salaries payable
1,460
Common shares
12,000
Supplies
1,030
Equipment
10,100
Unearned revenue
1,380
During August, the following summary transactions were
completed.
Aug. 1
Paid $440 cash for advertising in local newspapers....
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