Indicate whether each transaction of Company W is disclosed as operating (O), investing (I) or financing activity (F) section of the statement of cash flows or use (NA) if the item does not appear on the statement by using direct method.

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Chapter 12, Problem 12.3E

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Indicate whether each transaction of Company W is disclosed as operating (O), investing (I) or financing activity (F) section of the statement of cash flows or use (NA) if the item does not appear on the statement by using direct method.

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The following transactions of Weber Company occurred during the current year: The company acquired a tract of land in exchange for 1,000 shares of $10 par value common stock. The stock was traded on the New York Stock Exchange at $24 on the date of exchange. The land had a book value on the selling company’s records of $5,000, and it was believed to be worth “anything up to $30,000.” An engine on a truck was replaced. When the truck was purchased 3 years ago, it cost $10,000 and was being depreciated at $2,000 per year. The engine cost $1,000 to replace. The company acquired a tract of land that was believed to have mineral deposits by issuing 500 shares of preferred stock of $50 par value. The preferred stock was rarely traded. The last transaction was 2 months earlier, when 50 shares were sold at $75 per share. The owner of the land was willing to accept cash of $55,000, and an appraisal had shown a value of $60,000. The company purchased a machine with a list price of $8,500 by…

What should Davidson record as the cost of the new van on these general accounting question?

Answer 2

Question

Chapter 12, Problem 12.3E

To determine

Indicate whether each transaction of Company W is disclosed as operating (O), investing (I) or financing activity (F) section of the statement of cash flows or use (NA) if the item does not appear on the statement by using direct method.

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Answer 3

Question

Chapter 12, Problem 12.3E

To determine

Indicate whether each transaction of Company W is disclosed as operating (O), investing (I) or financing activity (F) section of the statement of cash flows or use (NA) if the item does not appear on the statement by using direct method.

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Answer 4

Question

Chapter 12, Problem 12.3E

To determine

Indicate whether each transaction of Company W is disclosed as operating (O), investing (I) or financing activity (F) section of the statement of cash flows or use (NA) if the item does not appear on the statement by using direct method.

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Answer 5

Chapter 12, Problem 12.3E

To determine

Indicate whether each transaction of Company W is disclosed as operating (O), investing (I) or financing activity (F) section of the statement of cash flows or use (NA) if the item does not appear on the statement by using direct method.

Answer 6

Chapter 12, Problem 12.3E

To determine

Indicate whether each transaction of Company W is disclosed as operating (O), investing (I) or financing activity (F) section of the statement of cash flows or use (NA) if the item does not appear on the statement by using direct method.

Answer 7

Chapter 12, Problem 12.3E

To determine

Indicate whether each transaction of Company W is disclosed as operating (O), investing (I) or financing activity (F) section of the statement of cash flows or use (NA) if the item does not appear on the statement by using direct method.

Answer 8

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Answer 11

Ch. 12 - Prob. 1Q Ch. 12 - Prob. 2Q Ch. 12 - Prob. 3Q Ch. 12 - What are the major categories of business...Ch. 12 - Prob. 5Q Ch. 12 - Prob. 6Q Ch. 12 - Prob. 7Q Ch. 12 - Prob. 8Q Ch. 12 - Compare the two methods of reporting cash flows...Ch. 12 - Prob. 10Q

Indicate whether each transaction of Company W is disclosed as operating (O), investing (I) or financing activity (F) section of the statement of cash flows or use (NA) if the item does not appear on the statement by using direct method.

Solution Summary: The author explains that Company W's transactions are disclosed as operating, investing, or financing activity, if the item does not appear on the statement by using direct method.

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Indicate whether each transaction of Company W is disclosed as operating (O), investing (I) or financing activity (F) section of the statement of cash flows or use (NA) if the item does not appear on the statement by using direct method.

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