Question 13 1. Borrowed money from Chase Bank 2. Distributed a stock dividend 3. Depreciation for the year 4. Amortization of Bond Discount 5. Issued common stock over par 6. Sold a building for $200,000 that cost $250,000 7. Paid cash dividend 8. Bought a car paying cash for down payment and issued a note for the remainder REQUIRED: Using Indirect Method, state which section the above would go: Operating (O), Investing (1), Financing (F), or Non Cash (NC)

Question 13 1. Borrowed money from Chase Bank 2. Distributed a stock dividend 3. Depreciation for the year 4. Amortization of Bond Discount 5. Issued common stock over par 6. Sold a building for $200,000 that cost $250,000 7. Paid cash dividend 8. Bought a car paying cash for down payment and issued a note for the remainder REQUIRED: Using Indirect Method, state which section the above would go: Operating (O), Investing (1), Financing (F), or Non Cash (NC)

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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es Assume the following excerpts from a company's balance sheet: Beginning Balance $ 700,000 $ 950,000 Ending Balance $ 950,000 $950,000 $ 475,000 $ 490,000 Bonds payable Common stock Retained earnings During the year, the company's net income was $220,000 and it did not retire any bonds or issue or repurchase any common stock. Required: Calculate the net cash provided by (used in) financing activities. Net cash provided by financing activities $ (235,000)
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2When a company retires its bonds, which of the following is the correct reporting on the statement of cash flows? Gain or loss in operating section, amount of cash paid in investing section Gain or loss in financing section, amount of cash received in operating section Gain or loss in operating section, amount of cash paid in financing section Gain or loss in investing section, amount of cash received in operating section
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1. The following accounts appeared on the partial Balance Sheet of Brandy Inc.: Accounts Payable Accounts Receivable $ 5,500 2,300 2,820 3,000 8,140 18,560 18,760 100 Bank Loan Cash Common Stock Inventory Long-term debt Machinery What is the total amount of all assets (rounded to the nearest dollar)?
e. Paid the cash dividends declared in (d). Description Debit Credit Cash Dividends Payable v 70,000 Cash v 300,150 X f. Purchased 4% bonds issued by Solstice Corp. as an available-for-sale investment for $300,150. Description Debit Credit Available-for-Sale Investments-Solstice Corp. Bonds 264,000 x Cash 264,000 x
QUESTION 4 Based on the following information,. Purchase of investments $ 390 Dividends paid 262 Interest paid 85 Additional borrowing from bank 570 The cash flows from financing activities under GAAP would $
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