Cypress Corp. went into business on October 1, 2020. Following are some of Cypress's transactions during October, November, and December, 2020: • Oct. 1 - Issued a total of 20 shares of stock to two stockholders for a total of $6,000. • Oct. 1 - Borrowed $20,000 from the bank. No payments will be made on this loan until October 1, 2022, when $24,000 will be due. • Oct. 12 - Purchased land for $8,000 in cash. • Nov. 1 - Purchased equipment for $12,000 in cash. The equipment is expected to last for four years with no salvage value. Dec. 12 - Sold one-half of land for $5,000 in cash. What are Cypress's net investing cash flows for Cypress during 2020? O ($14,000) O ($15,000) O ($20,000) ($3,000) None of the above

Cypress Corp. went into business on October 1, 2020. Following are some of Cypress's transactions during October, November, and December, 2020: • Oct. 1 - Issued a total of 20 shares of stock to two stockholders for a total of $6,000. • Oct. 1 - Borrowed $20,000 from the bank. No payments will be made on this loan until October 1, 2022, when $24,000 will be due. • Oct. 12 - Purchased land for $8,000 in cash. • Nov. 1 - Purchased equipment for $12,000 in cash. The equipment is expected to last for four years with no salvage value. Dec. 12 - Sold one-half of land for $5,000 in cash. What are Cypress's net investing cash flows for Cypress during 2020? O ($14,000) O ($15,000) O ($20,000) ($3,000) None of the above

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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On December 31, 2018, L Inc. had a $1,600,000 note payable outstanding, due July 31, 2019. L borrowed the money to finance construction of a new plant. L planned to refinance the note by issuing long-term bonds. Because L temporarily had excess cash, it prepaid $510,000 of the note on January 23, 2019. In February 2019, L completed a $3,100,000 bond offering. L will use the bond offering proceeds to repay the note payable at its maturity and to pay construction costs during 2019. On March 13, 2019, L issued its 2018 financial statements. What amount of the note payable should L include in the current liabilities section of its December 31, 2018, balance sheet? Multiple Choice $1,090,000. $1,600,000. $510,000. $0. Please don't provide answer in image format thank you
Cypress Corp. went into business on October 1, 2020. Cypress had the following transactions during 2020: Oct. 1 - Issued a total of 20 shares of stock to two stockholders for a total of $6,00O. • Oct. 1 - Borrowed $20,000 from the bank. No payments will be made on this loan until October 1, 2022, when $24,000 will be due. Oct. 12 - Purchased land for $8,000 in cash. • Nov. 1 - Purchased equipment for $12,000 in cash. The equipment is expected to last for four years with no salvage value. • Nov. 15 - Purchased $5,000 inventory, half in cash and half on account. • Dec. 1 - Purchased six months of insurance for $1,200. Dec. 10 - Sold $2,000 of inventory for $4,500 in cash. • Dec. 12 - Sold one-half of land for $5,000 in cash. Dec. 13 - Paid balance owed on accounts payable. Dec. 18 - Sold $1,500 of inventory for $2,500 on account. • Dec. 31 - Paid $1,000 in dividends. What were the net operating cash flows for Cypress during 2020? O $3,300 $800 O ($600) O ($1,700) None of the above
Accounting question - thank you for your help
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Meman
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