3. For each of the following items, indicate whether it would be classified as either an (0) operating activity, an ( 1) investing activity, a ( F ) financial activity, or a (N ) noncash financing and investing activity. Purchased a warehouse in exchange for shares of the purchasing company's stock. Converted bonds payable for shares of the company's stock. Paid an account payable for the purchase of merchandise. 1. O Cash sales. 2. I Sale of stock of another company. 3. F Purchased supplies for 4. N cash. Sold treasury stock. Purchased delivery equipment for cash. Paid interest on a note payable. Borrowed money by signing a note payable. > > >

3. For each of the following items, indicate whether it would be classified as either an (0) operating activity, an ( 1) investing activity, a ( F ) financial activity, or a (N ) noncash financing and investing activity. Purchased a warehouse in exchange for shares of the purchasing company's stock. Converted bonds payable for shares of the company's stock. Paid an account payable for the purchase of merchandise. 1. O Cash sales. 2. I Sale of stock of another company. 3. F Purchased supplies for 4. N cash. Sold treasury stock. Purchased delivery equipment for cash. Paid interest on a note payable. Borrowed money by signing a note payable. > > >

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Indicate if the following transactions increase or decrease cash and classify the transactions as Operating, Investing or Financing Activities Enter I For increase and D for decrease. Enter O for Operating, I for Investing, and F for Financing. 1. Pay taxes D O 2. Collect cash from customers I O 3. Issue common stock F 4. Take out a loan from a bank 5. Purchase stock in another company I 6. Sell government debt security 7. Buy a patent 8. Retire a bonds payable 9. Pay dividends 10. Pay insurance 11. Pay interest on a loan 12. Pay principal on a loan 13. Pay salaries 14. Repurchase treasury stock 15. Sell a copyright to another firm 16. Pay suppliers for inventory 17. Dividend payments received from stock investment. 18. Interest payments received from investment in government debt securities.
The comparative statements of financial position for Judy Inc. are presented below: JUDY INC. Comparative Statements of Financial Position Assets Cash. Accounts receivable. Inventory. Prepaid expenses. Investments.. Property, plant, and equipment.. Accumulated depreciation..... Total..... Accounts payable. Accrued expenses payable Bonds payable.. Common shares. Retained earnings. Total..... Sales Expenses Cost of goods sold. Operating expenses (excluding depreciation).. Depreciation expense Income tax expense. Net income..... Liabilities and Shareholders' Equity Interest expense Loss on sale of property, plant, and equipment.. Income before income tax.. 2022 $ 68,000 97,000 180,000 5,000 30,000 448,000 (100,000) $728.000 JUDY CORPORATION Statement of Income Year Ended December 31, 2022 $ 76,000 20,000 260,000 100,000 272,000 $728.000 5. Accrued expenses pertain to operating expenses. 6. The bonds were originally issued at face value. $580,000 180,000 30,000 18,000 8,000 2021 $ 36,000…
For each of the items indicate type of activity as per cash flows:
Suppose your company sells services of $180 in exchange for $110 cash and $70 on account. Required: 1. Prepare the journal entry to record this transaction. 2. Identify the amount that should be reported as net cash flow from operating activities. 3. Identify the amount that would be included in net income. 4. Show how the indirect method would convert net income (requirement 3) to net cash flow from operating activities (requirement 2).
Find the type of activity as Operating, investing, financing as per cash flow: 1.Salaries paid to employees 2.Dividend payment 3.Common shares issued 4.Bank loan repaid 5.Machinery purchase
Which of the following should be recorded in Accounts Receivable? Group of answer choices Receivables from subsidiaries resulting to a loan made to a subsidiary. Sale of goods on to a customer receiving cash and a promissory note. Receivables from officers who availed services in normal course of business. Dividend receivable as a result of cash dividends declared.
Which financial statement shows the financial position of the company?A. balance sheetB. statement of owner’s equityC. statement of cash flowsD. income statement
On the statement of cash flows, the investing activities section would include a. cash paid for dividends Ob. cash paid for retirement of bonds payable Oc. cash received from the issuance of capital stock Od. cash received from the sale of investments
Solve this question with steps please. The subject is fundamental of financial accounting.
Which of the following is the amount of revenue reported on the income statement of a retail company? Cash sales for the period and collections from customers. Both cash and credit sales for the period. Cash sales and stockholders' investments. The cash collected from customers during the current period.
Statement of Cash , select the false statement a.The cash received from the sale of goods is a cash inflow b.Dividends paid to shareholders are recorded as a cash outflow c.Proceeds from the sale of bonds are recorded as a cash outflow d.A sale of a fixed asset is recorded as a cash inflow
MAKE UP PRINCIPLES OF ACCOUNTI.. -> ? Which of the following is a fixed asset .3 )2 نقطة( Sum of money borrowed from the bank Marketable securities Shares Fixtures Which of the following situations .4 ? represents an increase in an asset )2 نقطة( Paid cash to a customer Receipt of equity shares Receipt of cash from a customer Payment of dividend to shareholders