Homework Answers
7 A- Declaration and distribution of stock dividend
8 A- Addition of net income
9 B- Stock Dividend Recieved
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7. Which of the following would be classified as a financing activity on a statement of...
QUESTION 23 Which of the following would be classified as a financing activity on a statement...
QUESTION 23 Which of the following would be classified as a financing activity on a statement of cash flows? Declaration and distribution of a stock dividend Sale of equipment O Payment of interest to a creditor Payment of a bond payable QUESTION 24 Net cash flow from operating activities for 2021 for Light Corporation was $990,000. The following items are reported on the financial statements for 2021: Depreciation and amortization Cash dividends paid on common stock $ 60,000 36,000 Increase...
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...
on- The major classifications of activities reported in the statement of cash flows are operating, investing,...
on- The major classifications of activities reported in the statement of cash flows are operating, investing, and financing. Classify each of the transactions listed below as: 1. Operating activity-add to net income. 2. Operating activity-deduct from net income. port 3. Investing activity. 4. Financing activity. 5. Reported as significant noncash activity The transactions are as follows. Transactions Classifications of Activities Issuance of common stock (b) Purchase of land and building Redemption of bonds. (d) Sale of equipment. le) Depreciation of...
A statement of Cash Flows contains the following sections: Cash Flows from Operating Activities Cash Flows...
A statement of Cash Flows contains the following sections: Cash Flows from Operating Activities Cash Flows from Investing Activities Cash Flows from Financing Activities Investing and Financing Activities NOT affecting cash A list of items that appear on the Cash Flows Statement appear below: Using the letters (A-D), indicate in which section(s) of the statement of cash flows (or accompanying schedule) the preceding items would most likely be classified A Investing and Financing Activities NOT affecting cash B. Cash Flows...
Exercise 17-7 Identify each of the following transactions as an operating activity (O), an investing activity...
Exercise 17-7 Identify each of the following transactions as an operating activity (O), an investing activity (1), a financing activity (F), a non-cash investing and financing activity (NIF), or a trans- action that is not reported on the cash flow statement (N). For each cash flow, indicate whether the item increases (+) or decreases (-) cash. Assume the direct method is used to report cash flows from operating activities. for the cash w statement a. NIF e.I- g.O+ Activity (+)/)...
CES Exercise 5-13 The major classifications of activities reported in the statement of cash flows are...
CES Exercise 5-13 The major classifications of activities reported in the statement of cash flows are operating, investing, and financing. Classify each of the transactions listed below as: Operating activity-add to net income. Operating activity-deduct from net income. Investing activity Financing activity. Reported as significant noncash activity 1. 2. 3. 5. The transactions are as follows. Classifications of Activities > ndy << Transactions (a) Issuance of common stock. (b) Purchase of land and building. (c) Redemption of bonds. (d) Sale...
19. When preparing a statement of cash preparing a statement of cash loan (indirect methodl, which...
19. When preparing a statement of cash preparing a statement of cash loan (indirect methodl, which of the following is Hot an adjustm adjustment to reconcile net income to be cash vided by operating activities A) A change in income taxes payable B) A change in interest payable C) A change in dividends payable D) All of these are adjustments 20. When using the indirect method to prepare the operating section of a statement of cash llows, which of the...
Current Attempt in Progress The major classifications of activities reported in the statement of cash flows...
Current Attempt in Progress The major classifications of activities reported in the statement of cash flows are operating, investing, and financing. Classify each of the transactions listed below as: 1. Operating activity-add to net income. 2. Operating activity-deduct from net income. 3. Investing activity. Financing activity. 4. 5. Reported as significant noncash activity The transactions are as follows. Transactions Classifications of Activities (a) Issuance of common stock. Purchase of land and building. Redemption of bonds. Sale of equipment. (e) Depreciation...
QUESTION 7 The appropriate section in the statement of cash flows for reporting the net income...
QUESTION 7 The appropriate section in the statement of cash flows for reporting the net income is: o Operating activities, O Financing activities. O Investing activities. O Schedule of noncash investing or financing activity O This is not reported on the statement of cash flows. QUESTION 8 The appropriate section in the statement of cash flows for reporting the issuance of common stock for cash is Operating activities. O Financing activities. O Investing activities. Schedule of noncash investing or financing...
Exercise 12-2 An analysis of comparative balance sheets, the current year's income statement, and the general...
Exercise 12-2 An analysis of comparative balance sheets, the current year's income statement, and the general ledger accounts of Wellman Corp. uncovered the following items. Assume all items involve cash unless there is information to the contrary. Indicate how each item should be classified in the statement of cash flows indirect method) using these four major classifications: operating activity (that is, the item would be listed among the adjustments to net income to determine net cash provided by operating activities...
QUESTION 23 Which of the following would be classified as a financing activity on a statement of cash flows? Declaration and distribution of a stock dividend Sale of equipment O Payment of interest to a creditor Payment of a bond payable QUESTION 24 Net cash flow from operating activities for 2021 for Light Corporation was $990,000. The following items are reported on the financial statements for 2021: Depreciation and amortization Cash dividends paid on common stock $ 60,000 36,000 Increase...
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...
on- The major classifications of activities reported in the statement of cash flows are operating, investing, and financing. Classify each of the transactions listed below as: 1. Operating activity-add to net income. 2. Operating activity-deduct from net income. port 3. Investing activity. 4. Financing activity. 5. Reported as significant noncash activity The transactions are as follows. Transactions Classifications of Activities Issuance of common stock (b) Purchase of land and building Redemption of bonds. (d) Sale of equipment. le) Depreciation of...
A statement of Cash Flows contains the following sections: Cash Flows from Operating Activities Cash Flows from Investing Activities Cash Flows from Financing Activities Investing and Financing Activities NOT affecting cash A list of items that appear on the Cash Flows Statement appear below: Using the letters (A-D), indicate in which section(s) of the statement of cash flows (or accompanying schedule) the preceding items would most likely be classified A Investing and Financing Activities NOT affecting cash B. Cash Flows...
Exercise 17-7 Identify each of the following transactions as an operating activity (O), an investing activity (1), a financing activity (F), a non-cash investing and financing activity (NIF), or a trans- action that is not reported on the cash flow statement (N). For each cash flow, indicate whether the item increases (+) or decreases (-) cash. Assume the direct method is used to report cash flows from operating activities. for the cash w statement a. NIF e.I- g.O+ Activity (+)/)...
CES Exercise 5-13 The major classifications of activities reported in the statement of cash flows are operating, investing, and financing. Classify each of the transactions listed below as: Operating activity-add to net income. Operating activity-deduct from net income. Investing activity Financing activity. Reported as significant noncash activity 1. 2. 3. 5. The transactions are as follows. Classifications of Activities > ndy << Transactions (a) Issuance of common stock. (b) Purchase of land and building. (c) Redemption of bonds. (d) Sale...
19. When preparing a statement of cash preparing a statement of cash loan (indirect methodl, which of the following is Hot an adjustm adjustment to reconcile net income to be cash vided by operating activities A) A change in income taxes payable B) A change in interest payable C) A change in dividends payable D) All of these are adjustments 20. When using the indirect method to prepare the operating section of a statement of cash llows, which of the...
Current Attempt in Progress The major classifications of activities reported in the statement of cash flows are operating, investing, and financing. Classify each of the transactions listed below as: 1. Operating activity-add to net income. 2. Operating activity-deduct from net income. 3. Investing activity. Financing activity. 4. 5. Reported as significant noncash activity The transactions are as follows. Transactions Classifications of Activities (a) Issuance of common stock. Purchase of land and building. Redemption of bonds. Sale of equipment. (e) Depreciation...
QUESTION 7 The appropriate section in the statement of cash flows for reporting the net income is: o Operating activities, O Financing activities. O Investing activities. O Schedule of noncash investing or financing activity O This is not reported on the statement of cash flows. QUESTION 8 The appropriate section in the statement of cash flows for reporting the issuance of common stock for cash is Operating activities. O Financing activities. O Investing activities. Schedule of noncash investing or financing...
Exercise 12-2 An analysis of comparative balance sheets, the current year's income statement, and the general ledger accounts of Wellman Corp. uncovered the following items. Assume all items involve cash unless there is information to the contrary. Indicate how each item should be classified in the statement of cash flows indirect method) using these four major classifications: operating activity (that is, the item would be listed among the adjustments to net income to determine net cash provided by operating activities...
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