Which of the following is an operating activity?a) Issuing stockb) Paying interest on a loanc) Purchasing a buildingd) Selling equipment

Explanation of Operating Activity:Operating activities include the core business activities that…

Answered: Which of the following is an operating…

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter4: Journalizing And Posting Transactions

Section: Chapter Questions

Problem 3MC: To purchase an asset such as office equipment on account, you would credit which account? (a) Cash...

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Topic: Investment
Fair value is used to value which of the following balance sheet accounts? a. Prepaid expenses; patents; property, plant, and equipment b. Capital lease obligations, bonds payable c. Receivables net of allowance for doubtful accounts d. Debtsecurities available for sale, trading securities
Which of the following should be classified as financial instrument? Inventories C. Patents B. Land and building D. Trade accounts receivable
Which of the following should be disclosed in the Summary ofSignificant Accounting Policies?a. rent expense amount b. maturity dates of long-term debtc. methods of amortizing intangiblesd. composition of plant assets
Advances from customers are classified as a(n) a. b. C. d. Select one: a. current asset. b. current liability. С. expense. d. revenue.
Classifying balance sheet accounts For each account listed, identify the category that it would appear on a classified balance sheet. Use the following categories: Current Assets, Long-term Investments, Plant Assets, Intangible Assets, Current Liabilities, Long-term Liabilities, and Stockholders’ Equity. If the item does not belong on the classified balance sheet, put an X. a. Land (used in operations) b. Accumulated Depreciation—Equipment c. Common Stock d. Service Revenue e. Investment in Starbucks Corporation (to be held long-term) f. Accounts Receivable g. Equipment h. Buildings i. Notes Payable (due in 10 years) j. Unearned Revenue k. Cash l. Accounts Payable m. Prepaid Rent n.Dividends o. Land (held for investment purposes) p. Depreciation Expense
Are the following assets real or financial?a.Patentsb.Lease obligationsc.Customer goodwilld.A college educatione.A $5 bill
Which of the following accounts would be classified as a fixed (property, plant and equipment asset)? cash accounts receivable accounts payable equipment
Which of the following would be classified as an operating activity? Payment of interest. Sale of equipment. Payment of a cash dividend. Making a loan to another entity.
Which of the following would not be classified as a current asset? Prepaid expenses Plant, property and equipment Marketable securities Inventory
To purchase an asset such as office equipment on account, you would credit which account? (a) Cash (c) Accounts Payable (b) Accounts Receivable (d) Capital
Which of the following would be part of a financial manager's investment decision? *a. Collecting receivables from customersb. Paying loansc. Allocating funds for permanent current assetsd. Paying dividends to shareholders

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Which of the following is an operating activity? a) Issuing stock b) Paying interest on a loan c) Purchasing a building d) Selling equipment