Identify a SOURCE of cash: Bank loan is repaid Dividend is paid Accounts Payable goes down...
Identify a SOURCE of cash:
Bank loan is repaid
Dividend is paid
Accounts Payable goes down
Machinery is sold
Accounts Receivable goes up
Homework Answers
D. Machinery is sold
When machinery is sold for cash, it is a source of cash.
Add Answer to:
Identify a SOURCE of cash:
Bank loan is repaid
Dividend is paid
Accounts Payable goes down...
Identify a SOURCE of cash: (select only one alternative) Group of answer choices Dividend is paid...
Identify a SOURCE of cash: (select only one alternative) Group of answer choices Dividend is paid Accounts Receivablle goes up Accounts Payable goes down Machinery is sold Bank loan is repaid
Identify a SOURCE of cash: (select only one alternative) Group of answer choices Long-term Debt is...
Identify a SOURCE of cash: (select only one alternative) Group of answer choices Long-term Debt is retired Dividends are paid Accounts Payable goes down Accounts Receivable goes down Inventory is purchased
Identify a USE of cash: (select only one alternative) Inventory is sold Long-term Debt is issued...
Identify a USE of cash: (select only one alternative) Inventory is sold Long-term Debt is issued Machinery is sold Accounts Receivable goes up Accounts Payable goes up
Which of the following statements is incorrect? Cash goes up with a debit. Accounts receivable goes...
Which of the following statements is incorrect? Cash goes up with a debit. Accounts receivable goes up with a debit. Accounts Payable goes up with a debit. Rent Expense goes up with a debit
Paid $400 cash on accounts payable. Made a cash purchase of land for a building site...
Paid $400 cash on accounts payable. Made a cash purchase of land for a building site for the business, $89,000. Sold land and received cash of $69,000 (the land was carried on the company's books at $69,000). a. b. C. Received $15,400 cash from customers on account. d. Purchased medical equipment and signed a $90,000 promissory note in e. payment. f. Purchased a flat-screen TV for Smith's home. Paid Smith a cash dividend of 4,000. g. h. Purchased office supplies...
Prepare a classified statement of financial position. Assume that $10,880 of the bank loan payable will...
Prepare a classified statement of financial position. Assume
that $10,880 of the bank loan payable will be paid in 2019.
(List Property, plant and equipment in order of land,
buildings and equipment. List Current Assets in order of
liquidity.)
Buildings $84.640 Accounts receivable 10.080 Prepaid insurance 3,744 Cash 9,472 Equipment 65,920 Land 48,960 Office expense 464 Income tax expense 160 Depreciation expense 4,240 Interest expense 2,080 Common shares Retained earnings (January 1, 2018) Accumulated depreciation-building 49.600 32,000 36,480 Accounts payable...
Moon Inc. assigns $4,500,000 of its accounts receivables as collateral for a $3 million loan with a bank. The bank a...
Moon Inc. assigns $4,500,000 of its accounts receivables as collateral for a $3 million loan with a bank. The bank assesses a 3% finance charge on the loan amount and charges interest on the note at 6%. What would be the journal entry to record this transaction? Answers: A. Debit Cash for $1,940,000, debit Interest Expense for $90,000, debit Due from Bank for $1,500,000, and credit Accounts Receivable for $4,500,000. B. Debit Cash for $2,730,000, debit Interest Expense for $270,000,...
Indicate the effect of the following on the cash cycle: Accounts payable turnover goes up Group...
Indicate the effect of the following on the cash cycle: Accounts payable turnover goes up Group of answer choices No change Increase Decrease
You are given the following information for Thrice Corp: Decrease in inventory Decrease in accounts payable...
You are given the following information for Thrice Corp: Decrease in inventory Decrease in accounts payable Increase in notes payable Increase in accounts receivable $ 480 190 175 205 Did cash go up or down? By how much? Cash by Classify each event as a source or use of cash. Classify each event as a source or use of cash. A decrease in inventory is a A decrease in accounts payable is a An increase in notes payable isa An...
Cash flows from financing activities do not include: Multiple Choice repayment of a bank loan. cash...
Cash flows from financing activities do not include: Multiple Choice repayment of a bank loan. cash received from issuing preferred stock. declaration of a cash dividend. cash paid for treasury stock. Sales revenue for Hy Marx Tutoring was $320,000. The following data are from the accounting records of Marx: Accounts receivable, January 1 $ 76,000 Accounts receivable, December 31 60,000 The cash received from customers was: Multiple Choice $260,000. $304,000. $320,000. $336,000. Cash equivalents have each of the following characteristics...
Which of the following statements is incorrect? Cash goes up with a debit. Accounts receivable goes up with a debit. Accounts Payable goes up with a debit. Rent Expense goes up with a debit
Paid $400 cash on accounts payable. Made a cash purchase of land for a building site for the business, $89,000. Sold land and received cash of $69,000 (the land was carried on the company's books at $69,000). a. b. C. Received $15,400 cash from customers on account. d. Purchased medical equipment and signed a $90,000 promissory note in e. payment. f. Purchased a flat-screen TV for Smith's home. Paid Smith a cash dividend of 4,000. g. h. Purchased office supplies...
Prepare a classified statement of financial position. Assume
that $10,880 of the bank loan payable will be paid in 2019.
(List Property, plant and equipment in order of land,
buildings and equipment. List Current Assets in order of
liquidity.)
Buildings $84.640 Accounts receivable 10.080 Prepaid insurance 3,744 Cash 9,472 Equipment 65,920 Land 48,960 Office expense 464 Income tax expense 160 Depreciation expense 4,240 Interest expense 2,080 Common shares Retained earnings (January 1, 2018) Accumulated depreciation-building 49.600 32,000 36,480 Accounts payable...
You are given the following information for Thrice Corp: Decrease in inventory Decrease in accounts payable Increase in notes payable Increase in accounts receivable $ 480 190 175 205 Did cash go up or down? By how much? Cash by Classify each event as a source or use of cash. Classify each event as a source or use of cash. A decrease in inventory is a A decrease in accounts payable is a An increase in notes payable isa An...
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