ZuoTi.Pro
Question

Cral el. 43. A corporation originally 3 Prs S13 per share. Record the entry 38 par value common stock for s10 per share. In a
business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

4-2 294000 4000 To Csmman Stock A/c(y14oV1 To paid n o pay 96Cr0 Shsu 70 Shared 아 Sale ó 910 Ho To paid-in- Caita 44. Answe -

Explanation- to 44.

Financing activity involves cash inflows or outflows involved in source of finance that is long term liability and equity. i.e (B).

Explanation- to 45.

Collection from customer and payment to supplier also the part of operating activity but in the case of cash flow by direct method. Interest received a part of financing activity. Since we are asked about operating section of cash flow by indirect method therefore it is only the increase or decrease in the current liability. i.e. (D).

0 0
Add a comment
Know the answer?
Add Answer to:
Cral el. 43. A corporation originally 3 Prs S13 per share. Record the entry 38 par...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • The following information can be obtained by examining a company's balance sheet and income statement information:...

    The following information can be obtained by examining a company's balance sheet and income statement information: a. Increases in current asset account balances, other than cash. b. Decreases in current asset account balances, other than cash. c. Cash outflows to purchase long-term assets. d. Decreases in current liability account balances. e. Cash outflows to repay long-term debt. f. Gains recognized on the sale of long-term assets. g. Noncash expenses (e.g., depreciation). h. Cash outflows to purchase treasury stock. i. Increases...

  • Burns Corporation's net income last year was $95,600. Changes in the company's balance sheet accounts for...

    Burns Corporation's net income last year was $95,600. Changes in the company's balance sheet accounts for the year appear below: Increases (Decreases) Asset and Contra-Asset Accounts: Cash and cash equivalents $ 20,500 Accounts receivable $ 13,700 Inventory $ (16,500 ) Prepaid expenses $ 4,400 Long-term investments $ 10,400 Property, plant, and equipment $ 74,200 Accumulated depreciation $ 34,100 Liability and Equity Accounts: Accounts payable $ (19,600 ) Accrued liabilities $ 16,800 Income taxes payable $ 4,300 Bonds payable $ (61,800...

  • 1.2. 3. Hardware Suppliers reports net income of $157,000. Included in net income is a gain on the sale of land of $16,...

    1.2. 3. Hardware Suppliers reports net income of $157,000. Included in net income is a gain on the sale of land of $16,000. A comparison of this year's and last year's balance sheets reveals an increase in accounts receivable of $27,000, an increase in inventory of $16,000, and a decrease in accounts payable of $47,000. Required: Prepare the operating activities section of the statement of cash flows using the indirect method. (List cash outflows and any decrease in cash as...

  • Burns Corporation's net income last year was $97,400. Changes in the company's balance sheet accounts for...

    Burns Corporation's net income last year was $97,400. Changes in the company's balance sheet accounts for the year appear below Increases (Decreases) Asset and Contra-Asset Accounts: $ 18,800 $ 13,800 $ (17,600) $ 4,400 $ 10,900 $75,600 $ 32,900 Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Long-term investments Property, plant, and equipment Accumulated depreciation Liability and Equity Accounts: Accounts payable $ (18,700) 17,100 $ 4,200 $ (64,200) $ 41,600 $ 93,000 Accrued 1iabilities Income taxes payable Bonds payable...

  • On my final check for this question, please help with finishing! Thank you! Homework: Homework 3...

    On my final check for this question, please help with finishing! Thank you! Homework: Homework 3 Save 4 of 5 (5 complete) HW Score: 70.88%, 7.09 of 10 pts Score: 1.08 of 2 pts Bookmatch 3-14 (book/static) Question Help (Working with a statement of cash flows) Prepare a statement of cash flows from the scrambled list of items in the popup window, Complete the operating activities part of the statement of cash flows. (Round to the nearest dollar. NOTE: Input...

  • Burns Corporation's net income last year was $94,600. Changes in the company's balance sheet accounts for...

    Burns Corporation's net income last year was $94,600. Changes in the company's balance sheet accounts for the year appear below Increases (Decreases) Asset and Contra-Asset ccounts Cash and cash 18,400 equivalents Accounts receivable $14,300 (16,600) 4,200 $10,500 Inventory Prepaid expеnses Long-term investments Property, Plant, and equipment Accumulated depreciation Liability and Equity ccount5 Accounts payable Accrued liabilities 71,400 32,600 $(19,400) 16,800 4,100 Income taxes payable Bonds payable (63,000) 40,800 $90,300 Common stock Retained earnings The company did not disposse of any...

  • can you please show me how to arrive at the correct answer. thanks so much Burns...

    can you please show me how to arrive at the correct answer. thanks so much Burns Corporation's net income last year was $93,700. Changes in the company's balance sheet accounts for the year appear below: Increases (Decreases) Asset and Contra-Asset Accounts: Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Long-term investments Property, plant, and equipment Accumulated depreciation Liability and Equity Accounts: Accounts payable Accrued liabilities Income taxes payable Bonds payable Common stock Retained earnings $ 18,100 $ 13,800 $(16,800)...

  • Calculate Netflix Inc. [NFLX] cash flow ratios as presented below. Demonstrate your calculations in your post,...

    Calculate Netflix Inc. [NFLX] cash flow ratios as presented below. Demonstrate your calculations in your post, and explain what the cash flow ratios indicate about the company. Start with net income for the period, found on the income statement. Adjust net income for non-cash expenses (typically depreciation and amortization). Since depreciation and amortization expenses decrease net income, but do not use cash, they are added back to net income in the conversion. Add back losses or subtract out gains that...

  • Skysong, Inc. issued 16400 shares of $1 par common stock for $40 per share during 2022....

    Skysong, Inc. issued 16400 shares of $1 par common stock for $40 per share during 2022. The company paid dividends of $39000 and issued long-term notes payable of $361000 during the year. What amount of cash flows from financing activities will be reported on the statement of cash flows?

  • LION CORPORATION INCOME STATEMENT-12-31-20xX 1. SALES 2. COST OF GOODS SOLD 3. GROSS PROFIT 4. SELLING,GENERAL&ADMINISTRATIVE...

    LION CORPORATION INCOME STATEMENT-12-31-20xX 1. SALES 2. COST OF GOODS SOLD 3. GROSS PROFIT 4. SELLING,GENERAL&ADMINISTRATIVE 5. RESEARCH & DEVELOPMENT X 6. DEPREIATION &AMORTIZATION X S 736,447 (462,000) S 274,447 S (198,000) S (20,000) (18,000) 7. OPERATING INCOME (OPERATING PROFIT) 38,447 S (4,000) 9.EARNINGS BEFORE INTEREST & TAXES (EBIT) S 34,447 (3,000) 8. OTHER INCOME (EXPENSE) 12 13 14 - 10. INTEREST INCOME (EXPENSE) 1. EARNINGS BEFORE TAXES (EBT) [PRETAX INCON S 31,447 12. TAXES 13. EARNINGS AFTER TAXES (EAT)...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT