State the section(s) of the statement of cash flows prepared by the indirect method (operating activities, investing activities, financing activities, or not reported) and the amount that would be reported for each of the following tra Note: Only consider the cash component of each transaction. Use the minus sign to indicate amounts that are cash out flows, cash payments, decreases in cash, or any negative adjustments. If your answer is not reported in an amount box does not require an entry, leave it blank or enter "0". a. Received $120,000 from the sale of land costing $70,000. b. Purchased investments for $75,000. c. Declared $35,000 cash dividends on stock. $5,000 dividends were payable at the beginning of the year, and $6,000 were payable at the end of the year. d. Acquired equipment for $64,000 cash. e. Declared and issued 100 shares of $20 par common stock as a stock dividend, when the market price of the stock was $32 a share. f. Recognized depreciation for the year, $37,000. g. Issued 85,000 shares of $10 par common stock for $25 a share, receiving cash. h. Issued $500,000 of 20-year, 10% bonds payable at 99. i. Borrowed $43,000 from Regional Bank, issuing a 5-year, 8% note for that amount.

State the section(s) of the statement of cash flows prepared by the indirect method (operating activities, investing activities, financing activities, or not reported) and the amount that would be reported for each of the following tra Note: Only consider the cash component of each transaction. Use the minus sign to indicate amounts that are cash out flows, cash payments, decreases in cash, or any negative adjustments. If your answer is not reported in an amount box does not require an entry, leave it blank or enter "0". a. Received $120,000 from the sale of land costing $70,000. b. Purchased investments for $75,000. c. Declared $35,000 cash dividends on stock. $5,000 dividends were payable at the beginning of the year, and $6,000 were payable at the end of the year. d. Acquired equipment for $64,000 cash. e. Declared and issued 100 shares of $20 par common stock as a stock dividend, when the market price of the stock was $32 a share. f. Recognized depreciation for the year, $37,000. g. Issued 85,000 shares of $10 par common stock for $25 a share, receiving cash. h. Issued $500,000 of 20-year, 10% bonds payable at 99. i. Borrowed $43,000 from Regional Bank, issuing a 5-year, 8% note for that amount.

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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Which of the following is not an operating activity shown on the Statement of Cash Flows? Cash received from customers for cash sales Cash payment for equipment Cash received for payment on an accounts receivable Cash payments for insurance
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Graves Construction is journalizing two transactions related to uncollectible accounts. The first transaction does not affect cash flows. but the second transaction does affect cash flows. If Graves Construction uses the allowance method to account for uncollectibles, which of the following scenarios may pertain to these transactions? O The first transaction is to record the sale of uncollectible accounts to a factor, and the second transaction is to record the write-off of an uncollectible account. O The first transaction is to record the recovery of a previously written off collectible account, and the second transaction is to record the estimate of uncollectible accounts. The first transaction is to record the write-off of an uncollectible account, and the second transaction is to record the recovery of a previously written off uncollectible account. O The first transaction is to record the write-off of an uncollectible account, and the second transaction is to record the estimate…
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If the cash on hand is greater than the total of the change fund amount plus the cash sales per the cash register, then cash is over. cash is short. miscellaneous expense is recorded. Cash Over and Short is debited.
The is intended to reconcile changes in the balance sheet cash accounts. accounting statement of income accounting statement of changes in equity O capital budgeting cash flow calculation O accounting statement of cash flows Save for Later Attempts: 0 of 3 used Submit Answer
The primary purpose of the statement of cash flows is to provide information about the investing and financing activities during a period. facilitate banking relationships. provide information about the cash receipts and cash payments during a period. prove that revenues exceed expenses if there is a net income.
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Which of the following statements correctly describes the reporting of cash ?
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