ACC2363_Assignment 8_Q #10 Sale of Building

review the picture below and correct any lines that involve formulas and add any lines that arent highlighted that need formulas by adding forumlas where they are needed

1. The direct capitalization and discounted cash flow models are used primarily in income-producing commercial properties. Explain what net operating income is and what types of expenses are removed when calculating net operating income. Discuss the theoretical basis for the direct capitalization approach. Discuss the theoretical basis for the discounted cash flow basis.   2. What are two key takeaways you have from the chapters covered in this exam? Explain each takeaway and why you found it particularly interesting or insightful.

Cash flows relating to asset held for rental to others are classified asA. OperatingB. FinancingC. InvestingD. Either Investing or Operating

8. If a FVTPL financial asset is bought, the investment account is Multiple-Choice O A. Debited for the cost of the financial asset NOT including any extra expenditures required in making t he purchase O B. Debited for the cost of the financial asset including any extra expenditures required in making the pu rchase O C. Credited for the cost of the financial asset including any extra expenditures required in making the p urchase D. Credited for the cost of the financial asset NOT including any extra expenditures required in making the purchase

Indicate where the event purchased land and a building with a mortgage would appear, if at all, on the indirect statement of cash flows. Select one: a. Investing activities section O b. Does not represent a cash flow c Financing activities section O d.Operating activities section

5.-In the inflows and outflows method, the following are considered exceptional inflows: A) Interest earned on investments and sales of non-current assets. B) Sales of non-current assets and sale of merchandise. C) Sale of merchandise and capital contributions. D) Sale of services and interest earned on investments.   (Choose an option)

Instructions: Match the cash expenditures given below with the appropriate accounting treatment. An individual classification may be used more than once, or not at all.   Treatments   A. Record the expenditure as an asset and depreciate it. B. Record the expenditure as an asset and amortize it. C. Record the expenditure as an asset and deplete it. D. Record the expenditure as an asset but do not systematically allocate it to expense. E. Record the expenditure as an expense in the current period. F. None of the above is appropriate.   Expenditures   ____ 1. Acquired a truck.   ____ 2. Purchased a copyright from an author.   ____ 3. Paid for minor repairs to a building.   ____ 4. Purchased a producing silver mine.   ____ 5. Paid attorney's fees in acquiring land.   ____ 6. Paid attorney's fees to defend a patent.   ____ 7. Paid prior owner’s real estate taxes in acquiring land.   ____ 8. Paid insurance to transport new equipment to your plant.   ____ 9. Purchased timberlands to establish…

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Select all that are true with respect to depreciation. Group of answer choices Depreciation is a cash flow outflow at the time it is recorded in the financial statements Depreciation itself is not a cash flow Accounting depreciation impacts cash flow, Tax depreciation does not Accounting depreciation does not impact cash flow, Tax depreciation does impact cash flow The depreciation tax shield is a relevant cash flow for decision making

please answer the following 2 questions: 1. If there is any Depreciation, Amortization, or Depletion expense it should be ... a) added to the net income because they are cash activities b) deducted from the net income because they are cash activities c) added to the net income because they are non-cash activities d) deducted from the net income because they are non-cash activities 2. Any Gain in the income statement should be: a) deducted from the net income because they are non-cash activities b) added to the net income because they are cash activities c) deducted from the net income because they are cash activities d) added to the net income because they are non-cash activities

Which of the following shows how paying cash to purchase suppites will affect a company's financial statements? Multiple Choice Assets Assets Balance Sheet Llab, + NA Assets Balance Sheet Liab. + Equity NA Balance Sheet Assets - Llab -10 NA Equity NA Balance Sheet Llab. NA Equity NA Equity Rev NA Rev. NA Rev NA Rev. NA Income Statement Exp NA Net Inc. NA Income Statement - Exp. Net Inc. Income Statement Exp NA -Net Inc. NA Income Statement Exp NA Net Inc. NA Statement of Cash Flows - OA Statement of Cash Flows NA Statement of Cash Flows NA Statement of Cash Flows

The purchase of equipment financed by a long-term notes payable is an example of ________. A non-cash investing and financing activity B investing activity C operating activity D financing activity

Concord Limited, a public company that follows IFRS and has a calendar year end, made the following purchases of investments in 2023. Concord intends to sell these investments to earn short-term profits from appreciation in their prices and accounts for the investments using the FV-NI model. This is the first year in which Concord invested in equity securities: 1. 2. On March 20, purchased 5,400 shares of Wu Inc. common shares at $29 per share plus commission of $450. On August 15, purchased 3,100 shares of Xi Inc. common shares at $27 per share plus commission of $400. On June 30, Concord sold 3,240 shares of Wu Inc. at $31 less commission of $660. The December 31, 2023 market value of the Wu shares was $32 and of the Xi shares was $26.

Match each of the following term with the corresponding description.  Not all descriptions will be used._____ Operating activities_____ Indirect method_____ Cash equivalent_____ Investing activities_____ Direct method_____ Financing activitiesA. Measures the percent of net income that comes from high-margin products.B. Includes such events as the receipt of dividends and interest on investment assets.C. Includes assets that are very liquid and have original maturities of three months or less.D. The percent of total debt represented by a company's cash account.E. These activities include only purchases made with borrowed funds.F. Where cash flows from operating activities are calculated by converting each revenue and expense item from an accrual to a cash basis.G. This ratio multiplies net income by the average rate of interest the company receives on its investments.H. This ratio uses net income instead of operating cash flow to Analysis a company's ability to finance the cost of its…

What is correct answer for this financial accounting mcq?