Kindly provide correct answer Anisha Company had a transaction that caused a $30,000 increase inboth assets and liabilities. This transaction could have been a(n):a. Purchase of office equipment for $44,000, paying $14,000 cash andissuing a note payable for the balance.b. Investment of $30,000 cash in the business by the stockholders.c. Repayment of a $30,000 bank loan.d. Purchase of office equipment for $30,000 cash.

Accounting equation: Assets = Liabilities + Equity Option A is correct The purchase of office…

Answered: Anisha Company had a transaction that…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter16: Statement Of Cash Flows

Section: Chapter Questions

Problem 1EB: Provide journal entries to record each of the following transactions. For each, identify whether the...

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A company settles a long-term note payable plus interest by paying $68,000 cash toward the principal amount and $5,440 cash for interest. The amount reported as a use of cash under cash flows from financing activities is:
Subject: General Accounting
24. A company acquired a building, paying a portion of the purchase price in cash and issuing a mortgage note payable to the seller for the balance.In a statement of cash flows, what amount is included in investing activities for the above transaction? Zero Acquisition price Mortgage amount Cash payment
On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $82,650 in assets in exchange for its common stock to launch the business. On December 31, the company's records show the following items and amounts. Cash Accounts receivable office supplies office equipment Land Accounts payable Common stock $ 15,200 Cash dividends 12,410 1,770 16,450 Consulting revenue Rent expense Salaries expense 46,080 Telephone expense 6,060 Miscellaneous expenses 82,650 $ 460 12,410 2,140 5,300 750 560
Determine the effects of the following transactions on Current assets, Current liabilities, and Working Capital. Write “Inc” for an Increase, “Dec” for a Decrease, or “NE” if there is No Effect. Write your answers in the blanks provided. Current Asset Current Liability Net Working Capital 1. Sale of merchandise on account 2. Acquired shares of ABS CBN for cash 3. Pays the long-term debt of P150,000 4. Sells old machine for P10,000 cash 5. Issued shares of stock to cash investors 6. Declared cash dividends 7. Payment of advance rentals (asset method) 8. One year loan from a bank 9. Issued shares of stock to pay short term loan 10. Collection of receivables 11. Cash redemption of bonded debt 12. Six months interest received in advance(liability method is used) 13. Issued stock dividends 14. Payment of cash dividends declared in #6 15. Sell of equipment for P50,000;…
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Starry Company purchased equipment by borrowing money from a bank for $50,000. Which of the following would reflect this transaction? a. It would decrease liabilities by $50,000 b. It would decrease retained earnings by $50,000 c. It would increase assets by $50,000 d. It would decrease cash by $50,000
Yokum Company had the following transactions for 20X1. o Payments of dividends - $11,250 o Depreciation expense - $22,500 o Income taxes paid - $27,000 o Proceeds received from sale of equipment - $225,000 o Utilities paid - $6,750 o Interest paid on note to local bank - $5,625 o Proceeds from issuance of common stock - $56,250 o Collections on accounts receivable - $337,500 o Payments on inventory - $168,750 o Payments for wages and salaries - $78,750 Using the transactions above, compute the net cash flow from operating activities. negative $523,125 Opositive $225,000 positive $523,125 negative $225,000 O negative $50,625 positive $50,625
The Tom Smith Corporation has the following items: Cash, $5,000; Machinery, $50,000; Building, $150,000; Note payable bank, $10,000; Savings, $10,000; Long-term debt, $50,000; Accounts payable, $30,000; Taxes payable, $5,000; Accounts receivable, $30,000; Inventory, $10,000; Depreciation Building, $35,000; Depreciation Machinery, $25,000; Land $50,000. Fixed assets for this Corporation are $45,000. $55,000. $95,000. $155,000. $190,000.
Use the information below for Harding Company to answer the question that follow. Harding Company Accounts payable $38,576 Accounts receivable 62,104 Accrued liabilities 6,548 Cash 15,575 Intangible assets 39,083 Inventory 71,044 Long-term investments 90,442 Long-term liabilities 74,452 Marketable securities 38,270 Notes payable (short-term) 24,003 Property, plant, and equipment 652,967 Prepaid expenses 2,137 Based on the data for Harding Company, what is the amount of quick assets?
Use the information provided for Harding Company to answer the question that follow. Harding Company Accounts payable $26,136 Accounts receivable 71,999 Accrued liabilities 6,575 Cash 16,008 Intangible assets 40,514 Inventory 77,552 Long-term investments 102,623 Long-term liabilities 70,943 Notes payable (short-term) 25,456 Property, plant, and equipment 674,580 Prepaid expenses 2,265 Temporary investments 32,175 Based on the data for Harding Company, what is the amount of quick assets? a.$120,182 b.$48,183 c.$800,315 d.$1,618,032
Strawbale, Incorporated purchases a $329,800 building, paying $228,000 in cash and signing a $101,800 promissory note. What will be reported on the statement of cash flows as a result of this transaction? Multiple Choice A $228,000 cash outflow from investing activities and a $101,800 noncash transaction A $329,800 cash outflow from investing activities A $228,000 cash outflow from investing activities and a $101,800 cash inflow from financing activities A $329,800 cash outflow from investing activities and a $101,800 cash inflow from financing activities

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