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Identify the effect it has..
For each of the following separate transactions: 1. Sold a building...
Identify the effect it has...what did I do wrong and what's correct? For each of the...
Identify the effect it has...what did I do wrong and what's
correct?
For each of the following separate transactions: 1. Sold a building costing $30,000, with $20,000 of accumulated depreciation, for $8,000 cash, resulting in a $2,000 loss. 2. Acquired machinery worth $10,000 by issuing $10,000 in notes payable. 3. Issued 1,000 shares of common stock at par for $2 per share. 4. Note payables with a carrying value of $40,000 were retired for $47,000 cash, resulting in a $7,000...
For each of the following separate transactions: 1. Sold a building costing $35,500, with $22,200 of...
For each of the following separate transactions: 1. Sold a building costing $35,500, with $22,200 of accumulated depreciation, for $10,200 cash, resulting in a $3,100 loss. 2. Acquired machinery worth $12,200 by issuing $12,200 in notes payable. 3. Issued 1,220 shares of common stock at par for $2 per share. 4. Note payables with a carrying value of $41,100 were retired for $49,200 cash, resulting in a $8,100 loss. (a) Prepare the reconstructed journal entry. (b) Identify the effect it...
Indicate the effect each separate transaction has on investing cash flows. (Amounts to be deducted should...
Indicate the effect each separate transaction has on investing cash flows. (Amounts to be deducted should be indicated with a minus sign.) a. Sold a truck costing $40,000, with $22,000 of accumulated depreciation, for $8.000 cash. The sale results in a $10,000 loss. b. Sold a machine costing $10,000, with $8,000 of accumulated depreciation, for $5,000 cash. The sale results in a $3,000 gain. c. Purchased stock investments for $16,000 cash. The purchaser believes the stock is worth at least...
The following are summary cash transactions that occurred during the year for Hilliard Healthcare Co. (HHC):...
The following are summary cash transactions that occurred during the year for Hilliard Healthcare Co. (HHC): Cash received from: Customers Interest on notes receivable Collection of notes receivable Sale of land Issuance of common stock Cash paid for: Interest on notes payable Purchase of equipment Operating expenses Dividends to shareholders $660,000 12,000 100,000 40,000 200,000 18,000 120,000 440,000 30,000 Prepare the cash flows from operating activities section of HHC's statement of cash flows using the direct method. (Amounts to be...
Help ASAP pleasee!! Common stock transactions on the statement of cash flows Jones Industries received $800,000...
Help ASAP pleasee!!
Common stock transactions on the statement of cash flows Jones Industries received $800,000 from issuing shares of its common stock and $700,000 from issuing bonds. During the year, Jones Industries also paid dividends of $90,000. How are the effects of these transactions reported on the statement of cash flows? Use the minus sign to indicate cash out flows, cash payments, decreases in cash and for any adjustments, if required. If a transaction has no effect on the...
Identify how each of the following separate transactions 1 through 10 affects financial statements. For increases,...
Identify how each of the following separate transactions 1 through 10 affects financial statements. For increases, place a "+"and the dollar amount in the column or columns. For decreases, place a "and the dollar amount in the column or columns. Some cells may contain both an increase (+) and a decrease () along with the dollar amounts. The first transaction is completed as an example Required a. For the balance sheet, identify how each transaction affects total assets, total liabilities,...
Required Information [The following information applies to the questions displayed below.] Mark's Consulting experienced the following...
Required Information [The following information applies to the questions displayed below.] Mark's Consulting experienced the following transactions for 2018, Its first year of operations, and 2019. Assume that all transactions involve the receipt or payment of cash. Transactions for 2018 1. Acquired $80,000 by Issuing common stock. 2. Received $130,000 cash for providing services to customers. 3. Borrowed $21,000 cash from creditors. 4. Pald expenses amounting to $54,000. 5. Purchased land for $40,000 cash. Transactions for 2019 Beginning account balances...
The following are summary cash transactions that occurred during the year for Hiliard Healthcare Co. (HHC):...
The following are summary cash transactions that occurred during the year for Hiliard Healthcare Co. (HHC): Cash received from: Customers Interest on notes receivable Collection of notes receivable Sale of land Issuance of common stock Cash paid for : Interest on notes payable Purchase of equipment Operating expenses Dividends to shareholders $820,000 28,000 260,000 56,000 360,00 t nces 34,000 200,000 520, eee 46, Bee Prepare the cash flows from investing and financing activities sections of HHC's statement of cash flows....
Common stock transactions on the statement of cash flows Jones Industries received $800,000 from issuing shares...
Common stock transactions on the statement of cash flows Jones Industries received $800,000 from issuing shares of its common stock and $700,000 from issuing bonds. During the year, Jones Industries also paid dividends of $90,000. How are the effects of these transactions reported on the statement of cash flows? Use the minus sign to indicate cash out flows, cash payments, decreases in cash and for any adjustments, if required. If a transaction has no effect on the statement of cash...
Identify how each of the following separate transactions through 10 affects financial statements. For increases, place...
Identify how each of the following separate transactions through 10 affects financial statements. For increases, place a ""and the dollar amount in the column or columns. For decreases, place a '- and the dollar amount in the column or columns. Some cells may contain both an increase (+) and a decrease ( along with the dollar amounts. The first transaction is completed as an example. Required: a. For the balance sheet, identify how each transaction affects total assets, total liabilities,...
Identify the effect it has...what did I do wrong and what's
correct?
For each of the following separate transactions: 1. Sold a building costing $30,000, with $20,000 of accumulated depreciation, for $8,000 cash, resulting in a $2,000 loss. 2. Acquired machinery worth $10,000 by issuing $10,000 in notes payable. 3. Issued 1,000 shares of common stock at par for $2 per share. 4. Note payables with a carrying value of $40,000 were retired for $47,000 cash, resulting in a $7,000...
For each of the following separate transactions: 1. Sold a building costing $35,500, with $22,200 of accumulated depreciation, for $10,200 cash, resulting in a $3,100 loss. 2. Acquired machinery worth $12,200 by issuing $12,200 in notes payable. 3. Issued 1,220 shares of common stock at par for $2 per share. 4. Note payables with a carrying value of $41,100 were retired for $49,200 cash, resulting in a $8,100 loss. (a) Prepare the reconstructed journal entry. (b) Identify the effect it...
Indicate the effect each separate transaction has on investing cash flows. (Amounts to be deducted should be indicated with a minus sign.) a. Sold a truck costing $40,000, with $22,000 of accumulated depreciation, for $8.000 cash. The sale results in a $10,000 loss. b. Sold a machine costing $10,000, with $8,000 of accumulated depreciation, for $5,000 cash. The sale results in a $3,000 gain. c. Purchased stock investments for $16,000 cash. The purchaser believes the stock is worth at least...
The following are summary cash transactions that occurred during the year for Hilliard Healthcare Co. (HHC): Cash received from: Customers Interest on notes receivable Collection of notes receivable Sale of land Issuance of common stock Cash paid for: Interest on notes payable Purchase of equipment Operating expenses Dividends to shareholders $660,000 12,000 100,000 40,000 200,000 18,000 120,000 440,000 30,000 Prepare the cash flows from operating activities section of HHC's statement of cash flows using the direct method. (Amounts to be...
Help ASAP pleasee!!
Common stock transactions on the statement of cash flows Jones Industries received $800,000 from issuing shares of its common stock and $700,000 from issuing bonds. During the year, Jones Industries also paid dividends of $90,000. How are the effects of these transactions reported on the statement of cash flows? Use the minus sign to indicate cash out flows, cash payments, decreases in cash and for any adjustments, if required. If a transaction has no effect on the...
Identify how each of the following separate transactions 1 through 10 affects financial statements. For increases, place a "+"and the dollar amount in the column or columns. For decreases, place a "and the dollar amount in the column or columns. Some cells may contain both an increase (+) and a decrease () along with the dollar amounts. The first transaction is completed as an example Required a. For the balance sheet, identify how each transaction affects total assets, total liabilities,...
Required Information [The following information applies to the questions displayed below.] Mark's Consulting experienced the following transactions for 2018, Its first year of operations, and 2019. Assume that all transactions involve the receipt or payment of cash. Transactions for 2018 1. Acquired $80,000 by Issuing common stock. 2. Received $130,000 cash for providing services to customers. 3. Borrowed $21,000 cash from creditors. 4. Pald expenses amounting to $54,000. 5. Purchased land for $40,000 cash. Transactions for 2019 Beginning account balances...
The following are summary cash transactions that occurred during the year for Hiliard Healthcare Co. (HHC): Cash received from: Customers Interest on notes receivable Collection of notes receivable Sale of land Issuance of common stock Cash paid for : Interest on notes payable Purchase of equipment Operating expenses Dividends to shareholders $820,000 28,000 260,000 56,000 360,00 t nces 34,000 200,000 520, eee 46, Bee Prepare the cash flows from investing and financing activities sections of HHC's statement of cash flows....
Identify how each of the following separate transactions through 10 affects financial statements. For increases, place a ""and the dollar amount in the column or columns. For decreases, place a '- and the dollar amount in the column or columns. Some cells may contain both an increase (+) and a decrease ( along with the dollar amounts. The first transaction is completed as an example. Required: a. For the balance sheet, identify how each transaction affects total assets, total liabilities,...
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